Nigeria’s state oil company entered wants Chinese firms to accelerate the overhaul and restart of the state-owned 210,000-bpd Port Harcourt and 125,000-bpd Warri refineries amid soaring oil prices.

Fuel prices in Morocco declined by around MAD 1 ($0.1) per litre in May, marking the first notable correction after weeks of consecutive increases that had pushed prices to record levels.

A cargo of Russian oil arrived in Japan for the first time since the closure of the Strait of Hormuz as pragmatism overtakes principles in Tokyo.

ABB Egypt, a subsidiary of the Swiss-Swedish multinational ABB (SIX: ABBN), plans to invest $5mn in clean energy solutions before the end of 2026.