Kazakhstan, recognized as the world’s leading uranium producer, has entered into a strategic cooperation agreement with Rwanda, allowing it to import beryllium a vital mineral widely used in nuclear energy.
Two leading energy companies from the United Arab Emirates, Mubadala Investment Company and TAQA, have finalized the acquisition of a key gas-fired power plant in Uzbekistan.
Shell has announced that it will acquire TotalEnergies’ 12.5% non-operated stake in the deepwater Bonga oilfield located offshore Nigeria.
Tanzania and Japan signed six MoUs to boost cooperation in key sectors including oil, gas, energy, and health. The agreements aim to strengthen investment ties and accelerate Tanzania’s economic growth.
Uganda has shifted its oil production timeline to June 2026 due to delays in key infrastructure like the refinery and crude oil pipeline. While field development is progressing, the refinery may not be ready by the time oil starts flowing, meaning crude exports will begin before local processing.
Oil markets saw a notable uptick as Brent and WTI crude prices jumped over $1 per barrel following a U.S. court decision to block most of Trump-era tariffs, easing global trade tension and boosting investor confidence. However, the market remains alert to looming risks, including possible new sanctions on Russian crude, Chevron’s exit from Venezuela, and wildfire-related supply disruptions in Canada. With OPEC+ considering a July output hike, all eyes are on how production dynamics and geopolitical tensions will shape oil’s next move.