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Dangote is expanding its energy business across Africa, putting local capital and cross-border infrastructure at the centre of the continent’s refining future. South Sudan’s small businesses turn to solar as unreliable electricity grid leaves entrepreneurs facing blackouts, rising costs and lost in
Dangote Petroleum Refinery and Petrochemicals FZE will list shares on the New York Stock Exchange after doubling the capacity of one of the world’s largest crude refining facilities, its billionaire founder said.
In Russia, voters are on the third and final day of casting ballots in the country's first wartime parliamentary election. Despite the voting however, Ukraine carried out what Moscow described as the "largest ever" drone attack on the Russian capital. Kyiv reportedly fired over 1.000 drones at the country, leaving two dead in the Moscow region and inflicting damage upon an oil refinery. Details by FRANCE 24 correspondent in Kyiv, Gulliver Cragg.
Nigerian billionaire Aliko Dangote launched the biggest-ever share sale on the African continent, listing 4.1 billion shares in his Lagos refinery on the stock exchange. He framed it as a "people's IPO" to give all Nigerians a chance to share the plant's wealth potentials. Trading is expected to start in November. Meanwhile, global oil prices continued to advance as attacks by Yemen's Houthi rebels forced Saudi Arabia to shut down its East-West oil pipeline.
Numaligarh Refinery Limited, a subsidiary of Oil India Limited, plans to commission its 9 MMTPA expansion project by March 2027
The Industrial Development Corporation says the Ndola refinery will cost US$1.2 billion, but the licensed value is US$1.1 billion. The project is already under construction. The post Zambia’s State Firm Puts Ndola Refinery at US$1.2 Billion appeared first on The Rio Times.