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The Department of Mineral Resources and Energy announces the adjustment of fuel prices based on current local and international factors with effect from the 4th of July 2024. South Africa’s fuel prices are adjusted monthly, informed by international and local factors. International factors include the fact that South Africa imports both crude oil and finished products at a price set at the international level, including importation costs, e.g., shipping costs. https://lnkd.in/dArsmqRp

Excited to share my latest analysis on the Ghanaian fuel market! 📈 After deep diving into oil price trends and insights from Ghana's chamber of bulk oil distributors, indications point towards a very likely increase in fuel prices in the second quarter of the year. Check out my latest article for an in-depth look at what's driving this potential shift and what it means for consumers and businesses in Ghana. https://lnkd.in/d48pewye

In 2024, Nigeria maintained its status as one of Africa’s leading crude oil exporters, supplying its high-quality crude to a variety of countries across the globe. Despite fluctuations in global oil prices and shifting energy policies worldwide, Nigeria’s crude oil remained in high demand. Here are the 10 biggest buyers of Nigerian crude oil this year, according to recent trade figures by the National Bureau of Statistics (NBS).

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Uzbekistan transitioned into a net gas importer status in 2023. We have analyzed in detail the reasons for that phenomenon elsewhere, stressing the strong structural underpinnings of this transition, but the full trade data for the first half of the year allows us to evaluate the evolution of net gas imports since last year. The data shows that the trade deficit in natural gas has grown significantly in 1H. It widened to US$567.7mn, thus tripling relative to the whole of 2023. Moreover, gas imports alone amounted to US$ 809mn, which is 4 times more than that posted in the first half of 2023, when the value of deliveries were only US$200mn. This also exceeds the gas imports for the whole of 2023 (US$694.9mn). The external picture, therefore, remains challenging for Uzbekistan, although other factors, including lower gold exports, have also made a contribution. At the same time, stronger than expected remittances and higher gold prices have boosted FX reserves, rendering Uzbekistan the country with the largest improvement in FX reserves in our universe of coverage in the first half of the year.

Kenya Extends Oil Deal with Gulf Firms: Ensuring Stability in Fuel Supply and Economic Growth The Cabinet of Kenya approved the extension of a significant Government-to-Government \(G-to-G\) arrangement for the import of refined petroleum products. This decision will see Kenya continuing to source its refi... [...] #Cabinet #Fuel #Oil Read more... https://lnkd.in/dgqk5HE7

Business News. Nigeria’s Dangote Oil Refinery Ramps Up Production With US Crude Nigeria’s new mega Dangote oil refinery is slowly grinding into gear, with analysts and traders watching its ramp up closely to try to understand when it will start pouring gasoline into the market. https://lnkd.in/dPfGEqGb Data shows CBN not defending naira with FX reserves Data showing the Central Bank of Nigeria’s (CBN) scant interventions in the foreign exchange market prove that it is not defending the naira with its foreign reserves. https://lnkd.in/dFBg9k3n World Bank, AfDB Partner To Provide 300m Africans With Electricity The World Bank Group and African Development Bank Group are partnering to provide at least 300 million people in Africa with electricity access by 2030. This is as it urged for more clarity in the electricity tariff reforms in Nigeria. https://lnkd.in/dZr-atBx NPA unveils new export trucks window to tackle congestion Determined to reduce congestion and encourage timely movement of export cargo into Lagos Ports, the Nigerian Ports Authority has opened a 72-hour window for all export trucks to access various terminals. https://lnkd.in/dahxGNXc Nigeria’s Economy, Once Africa’s Biggest, Slips to Fourth Place Nigeria’s economy, which ranked as Africa’s largest in 2022, is set to slip to fourth place this year and Egypt, which held the top position in 2023, is projected to fall to second behind South Africa after a series of currency devaluations, International Monetary Fund forecasts show. https://lnkd.in/dsDSQ4iM Lydia Amobi-Offor Damilola Hassan Ola Belgore ACIArb Michael Abiodun Thomas

India's total oil import bill surged to $13.25 billion in February, marking a 10% increase from $12.04 billion in the previous month, despite a slight dip in domestic consumption, according to data from the ministry of commerce and industry. Story by: Saurav Anand Rahul Kalantri| Petroleum Planning and Analysis Cell(PPAC), MoPNG| #IndiaOilImportBill #FebruaryDataAnalysis #MinistryCommerceIndustry #DomesticConsumptionTrend #EnergyMarketInsights

📊 Pakistan’s Oil Import Bill Grows Marginally in FY25 H1 🚛 Crude oil rises, petroleum product costs drop, and machinery imports boost overall growth. Read More at: https://lnkd.in/disX7Fud #PakistanEconomy #TradeTrends #Imports

U.S. crude oil imports from Canada rose last week to the highest on record ahead of incoming U.S. President-elect Donald Trump’s plans to impose a 25% tariff on Canadian imports. Data from the U.S. Energy Information Administration (EIA) showed that U.S. crude oil imports from Canada rose by 689,000 barrels a day in the week ended January 3 to 4.42 million barrels per day (bpd), the highest in records that date back to June 2010. Read more: https://lnkd.in/dnEciy7k #UnitedStates #Canada #Oil #Import #EnergyNews