According to pages 160 and 161 of the refinery’s prospectus reviewed by Business Insider Africa, the litigation schedule was last updated on 26 August 2026. Nine of the 14 pending cases met the company’s materiality threshold of N100 million. The nine cases relate to unpaid debts, outstanding contractual payments, regulatory disputes and alleged breaches of contractual […]
The railway operator received about $300 million in June and is using the funds to expand capacity, buy new wagons and containers, repair sections of the railway and improve coordination between Angola and the Democratic Republic of Congo, CEO Nicolas Fournier said. LAR expects to transport about 400,000 tons of international cargo this year. About […]
TotalEnergies has made a new discovery offshore Angola and has bought operated interest in two new exploration blocks close to operating hubs as the international majors are returning to exploration in Angola’s waters to take advantage of existing infrastructure. TotalEnergies on Thursday said that the Acacia-5 discovery in Block 17 would see first oil achieved […]
China and India are increasingly turning to Brazil to make up for lost oil supplies as the fallout from the US-Israel war on Iran continues to disrupt energy trade through the Strait of Hormuz. With oil harder to access and Russian supply largely constrained by sanctions, Asian buyers are scrambling for crude from suppliers seen […]
The U.S. national debt recently passed $40 trillion, hitting this monstrous milestone months ahead of Congressional Budget Office projections, in part due to tariff refunds increasing the total deficit. In March, the federal debt held by the public reached the size of U.S. annual gross domestic product, nearing its all-time peak from more than 80 […]
The Trump administration announced Friday that it has imposed sanctions on a Turkish financial institution as part of its latest effort to sever “critical financial lifelines” for the Iranian government. The actions against Golden Global Yatirim Bankasi Anonim Sirketi come after Treasury Secretary Scott Bessent last week launched “Operation Economic Outcast, ” Washington’s new effort […]
Argentina’s President Javier Milei threatened to impose sanctions on oil companies drilling near the Falkland Islands, after reiterating his claim that the territory under British control is Argentine. The Falklands are “historically and legally” Argentine, Milei said in a televised address, apparently emboldened by the recent hints from U.S. President Donald Trump that the U.S. […]
Crude oil prices extended their climb today and are set for a sharp weekly gain as the war in the Middle East continues with little chance of peace. At the time of writing, Brent crude was trading at $95.55 per barrel, and West Texas Intermediate was changing hands for $91.53 per barrel, as Iran and […]
Etu Energias agreed to acquire Chevron’s 31% operated interest in Angola’s Block 14 and its 15.5% non-operated interest in the adjoining Block 14K. The agreement carries a base cash price of $260 million and an economic effective date of January 1, 2026, according to the transaction terms reported by World Oil. The assets had initially […]
A U.S. oil company controlled by a Venezuelan business tycoon will replace Chinese and Russian operators of several Venezuelan oil fields, Reuters has reported, citing two unnamed U.S. officials. North American Blue Energy Partners, which is backed by the U.S. government, has been granted 14 oil deals by the Venezuelan government. The U.S. government will […]