Cameroon has made headlines by becoming the first importer of petroleum products from the Dangote Refinery, Africa’s largest oil refinery, based in Nigeria. This milestone marks a significant step in the continent’s effort to strengthen intra-African trade and reduce reliance on foreign oil imports.
The Dangote Refinery, commissioned in 2023, is a multi-billion-dollar project led by…
In a strategic move that underscores its growing economic influence, Algeria has officially joined the BRICS Bank, now known as the New Development Bank (NDB). This milestone marks a significant expansion of the NDB’s reach and represents a new chapter in Algeria’s economic and geopolitical positioning.
The announcement was made at the BRICS summit in Johannesburg, where Algerian President…
Libya’s oil production has recently come to a halt amid a deepening power struggle involving the country’s central bank, highlighting the severe impact of political instability on one of Africa’s largest oil producers.
Background:
Libya has long been a significant player in the global oil market, with its vast reserves and production capacity playing a crucial role in the…
The Libyan Central Bank has resumed full operations following a dramatic turn of events involving the release of a high-profile hostage. The incident, which had previously disrupted the bank’s functions, has highlighted both the volatility of Libya’s political landscape and the critical role of financial institutions in maintaining national stability.
The hostage situation unfolded…
Africa’s largest oil refinery, located in Nigeria, has recently made headlines by seeking crude oil supplies from Libya. This move marks a strategic shift in the region’s energy dynamics and underscores the refinery’s efforts to diversify its crude oil sources amidst fluctuating global oil markets and geopolitical uncertainties.
The refinery in question is the Dangote…
In a significant development for South Africa’s energy sector, a major Russian bank has announced plans to invest in reviving the country’s defunct refinery infrastructure. This strategic move comes at a time when South Africa is grappling with energy shortages and a pressing need to enhance its refining capacity to meet domestic fuel demands.
The Russian bank in question…
