Business

Saudi Aramco shut its 400,000-barrel-per-day Jazan refinery on July 27 after a Houthi attack damaged the facility, according to an IIR note seen by Reuters. IIR said the strike damaged the refinery’s Integrated Gasification Combined Cycle complex and tank farm. […]

The UAE is still exporting liquefied natural gas, despite the threat of strikes in the Strait of Hormuz. According to a Bloomberg report, an ADNOC LNG tanker appeared in the Persian Gulf earlier today, successfully exiting the Strait of Hormuz, […]

Oil prices rose more than US$3 a barrel on Wednesday after joint strikes in Iraq by the US and Saudi Arabia, and the interception of Iran’s ballistic missiles aimed at US forces in the Middle East, while US crude inventories […]

The funding, approved by Parliament, transfers responsibility for financing the government’s domestic gold purchase programme from the Bank of Ghana to the state, with the newly established Ghana Gold Board (GoldBod) taking charge of the programme. The change is intended […]

Japan is planning to join the rush to diversify oil export routes away from the Strait of Hormuz by investing in pipeline projects abroad, notably in the Middle East.   Citing a document produced by the country’s economy ministry, Bloomberg […]

As Africa’s second-largest copper producer, Zambia wants to process its own minerals at home rather than shipping raw materials directly to foreign factories. Zambian officials are negotiating with major international industrial firms, including China’s Wuxi Jiangnan Cable, to build local […]

The Houthi threats to shipping in the Red Sea and its chokepoint, the Bab el-Mandeb Strait, have forced at least one oil tanker carrying Saudi crude to Asia to choose the much longer route through the Suez Canal, the Mediterranean, […]

The Japanese government may approach foreign banks to help finance pledged investments in U.S. natural gas production that are part of Tokyo’s trade deal with the Trump administration, agreed last year.   “If financing from foreign banks materialises, it should […]

Shipping in the Strait of Hormuz has plunged following Iran’s announcement that it has closed the waterway once again over Israel’s strikes on Lebanon, according to ship tracking data. A total of 12 vessels crossed the strait on Sunday, down […]

New data show that tanker traffic around the Cape of Good Hope reached a record 24 million deadweight tonnes in the week of 13 April, highlighting what industry analysts describe as a deepening structural shift in global shipping patterns. The […]