South Africa’s Department of Energy announced that as of early October the retail price of petrol 93 octane will increase by $0.44/L and that of 95 octane by $0.43/L.
Madagascar Oil has announced the first use of the Tsimiroro heavy fuel oil on the Mandroseza power plant, operated by US’s Symbion Power in Antananarivo.
Algeria’s Sonatrach has signed a cooperation agreement with the Indonesian state-owned oil and gas giant Pertamina to increase production from overseas oil and gas fields.
OPEC agreed to reduce its oil output to 32.5mb/d from the current production levels of around 33.24mb/d, with global prices of oil jumping by more than 5% in response to the agreement.
Iran's Persian Gulf Petrochemical Industries Company (PGPIC) is reported to inject over $11b in it's business with more than $1b coming from two agreements with Japan's Marubeni.