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CHINA OVERTAKES OPEC+ AS THE WORLD’S MAIN OIL PRICE MAKER.
China has quietly emerged as the most powerful force shaping global oil prices, overtaking traditional producers such as OPEC+. Rather than adjusting output, Beijing has used its position as the world’s largest crude importer to influence prices by ramping oil purchases into storage when prices fall and cutting back when prices rise. As OPEC+ holds production steady amid fears of an oil glut, markets are increasingly looking to China’s stockpiling behavior as the key factor determining where crude prices settle in 2026 and beyond.
- 5 months, 1 week
UGANDA SEEKS STAKE IN KENYA OIL PIPELINE VIA $2 BILLION VITOL-BACKED LOAN.
Uganda plans to use part of a $2 billion Vitol-backed loan to acquire a stake in the Kenya Pipeline Company as Kenya prepares to privatise up to 60% of the operator through an IPO. The move aims to secure Uganda’s fuel supply and strengthen regional energy cooperation, with KPC currently handling about 90% of Uganda’s petroleum imports.
- 5 months, 1 week
TANZANIA ENVISIONS GENERATING 8,000 MW OF ELECTRICITY BY 2030.
Tanzania plans to generate 8,000 MW of electricity by 2030 through new and diversified power generation projects aimed at ensuring energy reliability. The government is also prioritizing clean cooking energy adoption and ethical public service to support sustainable economic development.
- 5 months, 2 weeks
VITOL DEAL REVIVES UGANDA’S $4 BILLION REFINERY AMBITIONS.
Vitol’s $2 billion loan provides Uganda with a crucial financing boost for its oil refinery and related energy infrastructure, reviving a project that previously struggled to secure funding. The deal strengthens progress on the EACOP project, positioning Uganda to advance toward large-scale oil production and export.
- 5 months, 2 weeks
OIL JUMPS 1.5% AS TRUMP’S VENEZUELA BLOCKADE RATTLES MARKETS.
Global oil prices climbed more than 1% after U.S. President Donald Trump ordered what he called a “total and complete” blockade of all sanctioned oil tankers entering and leaving Venezuela. The move injected fresh geopolitical risk into oil markets that had been trading near five-year lows amid fragile demand and hopes of easing Russia-related sanctions. While traders remain cautious about the durability of the rally, Trump’s escalation against Venezuela has revived uncertainty around supply flows, shipping risks, and enforcement of U.S. sanctions.
- 5 months, 2 weeks
US PREPARING MORE TANKER SEIZURES OFF VENEZUELA AFTER FIRST SHIP INTERCEPTED.
The United States is escalating its pressure campaign on Venezuela, preparing to seize additional oil tankers after intercepting the first vessel earlier this week. The move signals a sharp intensification of Washington’s sanctions enforcement, sending shockwaves through global shipping networks and putting owners, operators, and oil traders on high alert. With a military buildup underway in the southern Caribbean and heightened scrutiny of vessels involved with sanctioned crude, the U.S. is now targeting the “shadow fleet” that moves Venezuelan, Iranian, and Russian oil—creating mounting uncertainty across the energy and maritime sectors.
- 5 months, 2 weeks
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