The jump to record highs in the cost of shipping oil in supertankers is squeezing profit margins for Asian oil refiners, who are heavily dependent on Middle Eastern crude, the International Energy Agency said in a monthly report.Asian oil refiners have faced the highest transportation costs as cargoes are moved through the Strait of Hormuz to secondary tankers for onward delivery, the IEA saidThe freight…
Construction begins on Wednesday of a $16 billion Kenyan oil refinery aimed at lowering East Africa's fuel costs and saving the region hard currency used to import refined products.Aliko Dangote and Kenyan President William Ruto broke ground on the site…
Angola's state oil company Sonangol is talking to Chinese financial institutions to secure a $4.8 billion loan to partly finance the construction of a new refinery in the Atlantic sea port of Lobito, it said on Wednesday.The financing, if completed…
