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Iran warns against wider war as Trump urges allies to escort ships

Iran has warned foreign countries not to join a proposed naval coalition to escort oil tankers through the Strait of Hormuz, saying wider involvement could escalate the ongoing conflict into a broader war.The warning came after US President Donald Trump called on allies and major energy importers to send warships to protect vessels in the strategic waterway. In a phone call with French Foreign Minister Jean-Noel Barrot, Iranian Foreign Minister Abbas Araghchi urged France and other nations to refrain from any action that might expand the fighting.He cautioned that further militarisation of the Gulf could push the region toward a confrontation that would be difficult to control. Iran has previously said it is prepared for a prolonged conflict with the United States and Israel and warned that such a war could severely damage or even “destroy” the global economy.The country […]

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Ghana to import fuel from Dangote refinery

The Government of Ghana has pledged to start importing petroleum products from the Dangote Petroleum Refinery in Lagos, Nigeria, as part of plans to strengthen energy security and cut costs.​ Ghana’s Energy Minister, Matthew Opoku Prempeh, gave the assurance during a visit to the 650,000 barrels per day refinery, where he inspected facilities and held talks with the management team. He said Accra is committed to making the refinery a key source of fuel supply once commercial terms are finalised.​ Prempeh noted that buying refined products from Nigeria is expected to be cheaper than relying on distant imports from Europe. He added that shorter shipping distances and regional cooperation should help reduce freight charges and ease pressure on Ghana’s foreign reserves. Officials in both countries say the move will deepen economic ties between Ghana and Nigeria and support West Africa’s […]

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Trump’s Iran tariff threat risks reopening China rift

US President Donald Trump’s threat to impose a 25 percent tariff on any country that trades with Iran is raising fears of a renewed rift with China, Tehran’s biggest commercial partner. Analysts say the move could drag Beijing back into a trade confrontation with Washington just as both sides were trying to stabilise ties.​ Trump announced on Monday that his administration is preparing the new tariffs as part of efforts to punish Iran over its crackdown on protests and to choke off the country’s oil revenues. The proposed measure would hit major buyers of Iranian crude and goods, including China, India and several countries in Asia.​ China has repeatedly criticised unilateral US sanctions and defended its energy and trade links with Iran as legitimate under international law. Beijing is also a key player in Iran’s oil, infrastructure and technology sectors […]

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Dangote Refinery denies shutdown rumours, says petrol output remains strong

Dangote Petroleum Refinery has rejected claims that it shut down its petrol processing operations, insisting the plant is running at scale and able to supply between 40 million and 50 million litres of petrol daily. The company said recent routine maintenance on some units did not halt overall production and accused some marketers of spreading rumours to justify higher pump and gantry prices.​ According to refinery officials and a formal company statement, the facility recently delivered about 43.3 million litres of petrol to the Nigerian market in a single day, with output on January 4 reaching 50 million litres and 48 million litres evacuated via its gantry. Dangote added that current stock levels are enough to cover more than 20 days of national consumption, saying this should calm fears about shortages or a production halt.​ The refinery noted that while […]

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Dangote refinery price cut triggers brutal petrol war, heavy losses for importers and marketers

Nigeria’s downstream petroleum sector is in the middle of what operators describe as an intense price war following the decision by the Dangote Petroleum Refinery to sharply reduce its gantry price for Premium Motor Spirit from N828 to N699 per litre. The move has forced fuel importers, depot owners and retail marketers to cut prices aggressively, even as the refinery admits it is also losing money under the new price regime.​ Estimates based on consumption and supply data suggest that petrol importers could lose about N102.48bn every month if they match Dangote’s prices. With the refinery now selling N129 per litre cheaper than the prevailing import landing cost, analysts say depot owners who offload cargo at Dangote-level prices would be taking a loss of about N129 on every litre sold, amounting to roughly N3.41bn daily. Dangote Refinery itself is projected […]

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Putin offers India uninterrupted fuel despite US pressure

Russian President Vladimir Putin has offered India “uninterrupted” supplies of fuel, promising to keep crude oil and other energy shipments flowing despite mounting pressure from the United States over New Delhi’s trade with Moscow.​ Putin made the pledge during a summit with Indian Prime Minister Narendra Modi in New Delhi, describing Russia as a reliable supplier of oil, gas and coal for India’s fast growing economy and stressing that Moscow is ready to continue steady deliveries.​ The offer comes as President Donald Trump’s administration has imposed steep tariffs on many Indian exports and targeted major Russian energy firms with sanctions, arguing that India’s purchases of discounted Russian oil help fund the war in Ukraine.​ India, now one of the world’s largest buyers of Russian crude, has slightly reduced its imports in recent months under US pressure but continues to defend […]

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EU seals deal to end Russian gas imports by autumn 2027

The European Union has reached a political deal to ban all imports of Russian natural gas by autumn 2027 as part of efforts to cut off a major source of funding for Moscow’s war in Ukraine.​ The agreement, struck between EU member states and the European Parliament, sets a binding timeline to phase out both pipeline gas and liquefied natural gas (LNG) from Russia after years of dependence on its supplies.​ Under the deal, long-term LNG contracts with Russian suppliers will be banned from January 1, 2027, while new long-term pipeline gas contracts will be prohibited from September 30, 2027, at the latest by November 1, 2027, depending on storage levels.​ Short-term contracts will be phased out earlier, with LNG contracts ending from April 25, 2026, and short-term pipeline gas deals stopping from June 17, 2026.​ EU Energy Commissioner Dan […]

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Dangote Refinery Assures Steady Fuel Supply as Output Surpasses Demand

The Dangote Petroleum Refinery has assured Nigerians of a steady fuel supply during the upcoming festive season, announcing that its daily output of petrol and diesel now exceeds the nation’s consumption levels. In a statement on Saturday, the Group Chief Branding and Communications Officer of Dangote Industries Limited, Anthony Chiejina, said the refinery currently produces over 45 million litres of petrol and 25 million litres of diesel per day. “Our production capacity surpasses national demand,” Chiejina said. “We are collaborating with regulators and distributors to ensure efficient delivery across the country. Dangote remains committed to powering Nigeria.” He explained that the refinery’s growing domestic refining capacity has helped stabilize the naira by reducing foreign exchange outflows and supporting local currency inflows. Backing the federal government’s newly introduced tariff policy on fuel imports, Chiejina described it as a vital measure to […]

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Africa Unites: Nigeria Spearheads Historic Launch of African Energy Bank to Fuel Continent’s Future

African Energy Bank: Nigeria Drives Continent-Wide Push for Energy Independence Nigeria is leading the charge to launch the African Energy Bank (AEB), a groundbreaking financial institution designed to fund transformative energy projects across the continent. With legal frameworks finalized and capital commitments secured, stakeholders confirm the bank’s debut is imminent. Why the AEB Matters Funding Gap: Africa faces a $200+ billion annual energy investment shortfall. Energy Poverty: Over 600 million Africans lack reliable electricity. Sustainable Growth: The AEB aims to balance fossil fuel development with renewables, ensuring affordable, scalable energy solutions. Key Developments from Abuja Meeting At a high-level review in Nigeria’s capital, Minister of State for Petroleum (Oil) Senator Heineken Lokpobiri announced: “Every milestone is on track. The AEB will be a game-changer, and Nigeria’s leadership reflects our hydrocarbon expertise.” Critical progress includes:✅ Legal & Governance Frameworks: Finalized to ensure operational clarity.✅ Capital Mobilization: […]

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Burkina Faso Invests $70 Million in Ghana Hydrocarbon Depot to Enhance Energy Security

Burkina Faso has made a strategic move to strengthen its energy security by acquiring the Tema Multi-Purpose Terminal hydrocarbon depot in Ghana for $70 million. This acquisition, involving the National Hydrocarbons Company (SONABHY), aims to expand the country’s storage capacity and ensure a reliable energy supply. The depot is already operational, providing Burkina Faso with a key storage facility outside its borders, offering a backup in case of disruptions in other supply routes. This move also reduces costs by decreasing dependence on third-party depots.

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