North Africa

Investors remained cautious about inflation and growth risk stemming from the U.S./Israeli war on?Iran. According to the Pentagon and Iranian sources, the U.S. launched the most intense airstrikes in the war. Global markets were still betting that Donald Trump would try to end the conflict soon. The Strait of Hormuz has been effectively closed by the war. It is a major route used for approximately one-fifth of all global oil and gas shipments. Producers have had to stop production as their storage tanks fill up, and energy prices are now higher. Dubai's main stock index fell 2.4%. Blue-chip developer Emaar...

Oil prices rose more than 15% on fears of long-term Strait of 'Hormuz shipping interruptions and supply cuts, while most Gulf markets fell in early trading Monday. Donald Trump, the U.S. president, said on Saturday that he is not interested in negotiations and that the war will end when Iran's military or government cease to function. Iran's decision to name Mojtaba Khamenei supreme leader, to succeed his father Ali Khamenei on Monday, further dampens hopes for peace. Brent crude rose $14.73 or 15.8% to $107.39 per barrel around 0800 GMT, on course for its largest-ever single-day jump. The energy markets...

The U.S. Department of Justice's documents reveal that embattled financier Jeffrey Epstein attempted to create a powerful network of political figures and regional business leaders. DP World announced that Sultan Ahmed Bin Sulayem resigned from his position as chairman and chief executive. Two sources who have direct knowledge of the situation said that the decision was made after Bin Sulayem’s name appeared on the Epstein files and his relationship with the deceased convicted sex offender came under increased scrutiny. Bin Sulayem and Epstein exchanged emails in which they discussed sexual relationships between Bin Sulayem and women Epstein had helped him...

The U.S. Department of Justice's documents reveal that embattled financier Jeffrey Epstein attempted to create a network of powerful political figures and businessmen in the Middle East. DP World announced that Sultan Ahmed Bin Sulayem resigned from his position as chairman and chief executive. Two sources who have direct knowledge of the matter said that the decision was made after Bin Sulayem’s name appeared on the Epstein files and his relationship with a late convicted sex offender came under increased scrutiny. Bin Sulayem and Epstein exchanged emails in which they discussed sexual relationships between Bin Sulayem and women Epstein had...

Qatar's stock index rose after announcing a positive year-end earnings report. Oil prices, a major factor in the Gulf's financial market, fell as traders assessed the possibility of supply disruptions following U.S. guidelines for vessels transiting Strait of Hormuz. Iran, along with fellow OPEC member?Saudi Arabia and the United Arab Emirates as well as Kuwait, Iraq, and Kuwait export the majority of their crude oil via the Strait to Asia. Saudi Arabia's benchmark stock index fell 0.1% due to a 0.8% drop in the?Al Rajhi Bank. Two people with knowledge of the situation said that the $925 billion Public Investment...

Mohd Edrees The stock markets of the United Arab Emirates ended slightly higher on February 6, as investors awaited the latest news from Iran, and the high-stakes talks between the United States and Iran regarding Tehran's nuclear program. Dubai's main market has now gained for the fifth consecutive session, with a 0.2% increase to its highest level in early 2006. Oman, as the mediator between Iran and America, began negotiations on Friday. Both sides have shown willingness to negotiate. revive diplomacy Washington wants to extend the talks with Iran to cover its?nuclear dispute?with the West. Ballistic missiles U.S. Secretary Of...

Due to a limited global supply of liquefied petroleum gas, Saudi Arabia's Aramco and Algeria's Sonatrach raised their official'selling prices' for the product in February between 1% and 5,3%. Saudi Aramco’s February OSP?increased $20 per metric ton, to $545?per ton For propane, the price has increased by $20 per ton. Butane LPG comes in two types: butane and propane. They have different boiling points. LPG is used primarily as a fuel for cars and heating, as well as a feedstock to make other petrochemicals. Sonatrach has increased its February OSP for propane from $500 to $25 per ton. For?butane, the...

The doors of the blue-and white trams creak as they rattle into the large square at the center of Alexandria. Many passengers can recite each stop off by heart. But the clatter of single and double-deck trams along this century-and-a-half-old ?line - a source of civic pride and transport alike for tens of thousands of daily commuters ?in Egypt's ?second city - is soon to be stopped. Next week, the authorities will begin a major renovation to replace the trams that have been in service for nearly 14 kilometers (9 miles) with a light rail system controlled digitally. This is...

The royal palace announced on Wednesday that Morocco would begin operating Nador West 'Med, its second Mediterranean deepwater port in the fourth quarter of this year. It aims to duplicate the success of Tanger Med - the Mediterranean and Africa’s largest port. The palace announced after a meeting presided over by King Mohammed VI that the $5.6 billion facility would open with a?annual capacity? of 5 million containers. This could be expanded to 12 million, according to the palace. It said that the new facility included 5.4 km breakwaters, four km of quays, and four power plants. The terminal was...

The majority of Gulf stock markets fell in early trading on Monday, due to a mixture of 'geopolitical concerns and policy worries. These range from U.S. and NATO tensions over Greenland as well as uncertainty surrounding tariffs and 'growing questions about the independence of the U.S. Federal Reserve. Donald Trump, the U.S. president, warned that he would impose a tariff of 100% on Canada if Canada went ahead with its trade agreement with China. He 'has also threatened to impose a 200% tariff on French wines & champagnes, presumably to pressure French President Emmanuel Macron into signing on?to the Board...

Libya will sign on Sunday a strategic partnership to develop and expand the Misurata Free Zone with international firms, attracting estimated $2.7 billion in investment. The project would generate an estimated $500 million in operating revenue annually if the agreements were signed with Qatari companies and Italian, Swiss, and Swiss firms. Dbeibah stated that "this project will not only boost Libya's ranking among the?largest port in terms of capacity and size, but also relies on direct foreign investments within a comprehensive partnership". Dbeibah stated that this partnership reflects "the government's commitment to attracting a productive external financing in order to...

The differential between Urals and Brent oil was stable on Thursday despite a low trading volume, but the discount for CPC Blend oil continued to widen when compared with Brent oil, traders reported. Urals cargoes were slow to load in January and many tankers had already been on the water?without a destination?, traders reported. Demand for 'the volumes in Asia wasn't high due to?the availability of alternatives? CPC Blend Oil values are under pressure due to recent attacks on tankers heading for the CPC terminal and the instability of the grade's oil exports. PLATTS WINDOW * ExxonMobil has offered to...

The Moroccan energy ministry announced on Monday that it had suspended a tender launched last month to build a gas pipeline, but did not provide any details as to the reasons. The tender was for the construction of a pipeline connecting a future terminal at the Nador West Med Port on the Mediterranean?to an existing pipe that allows Morocco to import?LNG via Spanish terminals?and supply two power plants? The section would also connect the existing pipe to industrial zones on the Atlantic, in Mohammedia and Kenitra. The ministry issued a statement saying that "due to new parameters and assumptions relating...

Gridworks, an?investor owned by the British government in Africa's electric networks, signed agreements on Monday to 'develop and invest' in transmission projects valued at around $400 million, during a visit by Britain's Foreign Minister. Yvette's Cooper's visit to Ethiopia is part of the UK government's efforts to create jobs in order to curb the rising number of migrants seeking to enter the United Kingdom from the Horn of Africa. These two projects are the first public/private partnerships in Ethiopia’s transmission network. Prime Minister Abiy Ahmad's government is slowly opening up Ethiopia’s state-dominated economy for more private investment. One project 'connects...

The central bank reported that Egypt's deficit on its current account decreased to $3.2 billion between July and September 2025. This is compared to $5.9 billion for the same period one year ago. The 'bank attributed this to an increase in remittances by Egyptians who work abroad, which reached $10.8 Billion in the first quarter, up from $8.3 Billion a year earlier. The Suez Canal's revenues also increased to $1.05billion from July to September of 2025, up from $931.2mil the previous year. Revenues from the canal were hit by attacks?by Yemeni Houthis, who are aligned with Iran, against shipping routes...

Market sources reported that the differential between Urals crude and CPC Blend remained unchanged on Monday. However, export volumes of CPC Blend remained uncertain due to?repairs continuing on single-point mooring units (SPMs)?at CPC Terminal. CPC is loading oil into SPM-1. SPM-2 has been taken out of service due to a drone attack by Ukraine, and SPM-3 undergoes scheduled maintenance. Oil prices rose on Monday, after the U.S. Coast Guard attempted to intercept an oil-tanker in international waters near Venezuela, a day earlier. Ukraine also damaged two vessels in Russia and their piers, increasing the risk of disruptions in oil supplies....

Egypt's Cabinet announced on Sunday that it had signed a deal with Qatar's Al Mana Holding to invest $200 million in the first phase of a project to produce sustainable aviation fuel from used cooking oils at Ain Sokhna's Economic Zone along the Suez Canal. The project, which will span 100,000 sqm in the Integrated Sokhna Zone along Egypt's Red Sea coast, will be developed over three phases. In a press release, the cabinet stated that the first phase would have an annual production capacity of approximately 200,000 tons. Egypt claimed that the deal marks the first Qatari investment in...

Industry sources reported on Thursday that premiums for Azeri BTC crude oil compared to Brent dated fell by 12% between November and October. According to the schedule, Azeri BTC crude exports to Turkey from Ceyhan have been set to 16.2 million barrels, down from 17.0 in December. The traders stated that the lower supply of grade "supported" the differentials. CPC, which is responsible for around 80% of Kazakhstan’s oil exports, suffered a drone attack on November 29th, causing severe damage to one of its three main exporting units. Sources said that exports fell last month from 1.52 million barrels a...

South Sudan's military chief said that troops were sent to the neighbouring Sudan on Thursday to guard the Heglig oilfield near the border. This was after the paramilitary Rapid Support Forces took control of the field. Heglig is home to the largest processing facility for South Sudanese crude oil, which accounts for the majority of South Sudanese public revenues. Heglig continues to receive some oil, but at a much reduced volume. Sources in the government said that the Sudanese forces and workers at the Heglig Oil Field withdrew on Sunday from the area to avoid fighting which could have damaged...

In an opaque market, the differentials between urals crude and other grades remained stable on Monday as participants assessed the impact of sanctions placed on Lukoil last month and Rosneft the previous month on the supply of this grade to India and Turkey. Sources in the trade said that two Indian state refiners bought 5 million barrels from spot markets as they continued to search for alternatives to Russian oil supplies. Sources said that Lukoil declared force majore at its Iraqi field of oil, while Bulgaria was preparing to seize the Burgas refinery as its international operations buckled due to...

The official gazette of Egypt announced that Egypt increased prices on a variety of fuel products Friday. This is the second price increase in this year. It's part the government's policy to reduce subsidies and alleviate a budgetary deficit. After a nearly 10% increase, the price of a variety of petroleum products has increased by 10.5% to 12.9%. Get 15% off in April . Egypt said recently that it hoped this would be the final major increase in fuel prices if global markets remain stable. Diesel, the most widely used fuel in Egypt, was raised from 15.50 Egyptian pounds to...

The differential between Brent and Urals crudes dated on Wednesday remained unchanged, but the Azeri BTC plan for exports from Turkey's Ceyhan Port in November was set at 15,3 million barrels compared to the 15.4 million barrels exported in October. Calculations showed that Azeri BTC crude exports would increase by approximately 3% per day in November compared to October. Alexander Novak, Deputy Premier of Russia, said that the country has gradually increased its oil production. It was very close to achieving the output quota set by OPEC+ last month. PLATTS WINDOW There were no bids or offerings reported on the...

The differentials between Urals crude and Brent for the date of February weakened on Monday due to rising shipping costs from Russia to India. This was driven by an increase in cargoes coming from Primorsk and Novorossiisk. Industry sources say that the current freight costs to transport Urals from the Baltic port of Primorsk to India for Aframax tanks rose from $6-6.5 millions for one-way trips in late August to middle September. The traders reported that the prices of Urals at western Indian ports remained constant. The exact plans for October remain unknown, but they expect Urals to continue exporting...

Kuwait's electricity minister announced on Saturday that the country will increase its power generation capacity to 14,05 gigawatts by 2031 in order to meet the rising demand. Kuwait, as a major oil-producing country, is struggling with power shortages due to rapid population growth, urbanization, high temperatures, and maintenance delays in certain plants. The government has had to implement planned power cuts since last year. Subaih Al-Mukhaizim said on X, the minister of electricity and water, as well as renewable energy, that the country managed to successfully manage the summer of 2025 despite some days reaching temperatures of 51 degrees Celsius....