Africa

MRS Oil Reports Huge Earnings Increase

MRS Oil Reports Huge Earnings Increase

August 15, 2023

Nigerian blender MRS Oil Nigeria Plc reported a nearly six-fold jump in gross profit and an 18% increase in sales revenu ...

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New Ghana Refinery Will Make Base Oils

July 18, 2023

Sentuo Group is scheduled to begin commissioning its new refinery in Tema, Ghana, next month, bringing sub-Saharan Afric ...

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BP, Shell Will Not Repair Sapref

July 4, 2023

BP and Shell have decided not to repair their damaged Sapref joint venture, signaling that the Durban, South Africa, ref ...

European Grease Output Nearly Steady in 2022

European Grease Output Nearly Steady in 2022

June 27, 2023

European grease production declined slightly in 2022, dipping less than a third of one percent compared to the prior yea ...

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Algerian Distributor Opens Blending Plant

May 30, 2023

Aiming to serve what it describes as a vibrant Algerian transportation market, petroleum products distributor Petro Bara ...

Conoil Earnings Drop Despite Reduced Costs

Conoil Earnings Drop Despite Reduced Costs

May 30, 2023

Nigerian lubricants blender and marketer Conoil reported a 21% decline in gross profit and 51% less sales revenue for th ...

MRS Oil Profits Jump on Reduced Costs

MRS Oil Profits Jump on Reduced Costs

May 16, 2023

Gross profit for Nigerian blender MRS Oil’s lubricants segment skyrocketed more than 20 fold in the fourth quarter, on ...

Profits Down for MRS Oil Nigeria

Profits Down for MRS Oil Nigeria

April 11, 2023

MRS Oil Nigeria Plc reported that gross profit for its lubricant segment fell 64% in 2022 due to negative impacts of inf ...

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Vivo Lubes Profit Swells on Flat Volumes

March 21, 2023

Vivo Energy, a major distributor of lubricants to retail and commercial customers across Africa, reported a slight decre ...

Ardova Goes from Loss to Profit

Ardova Goes from Loss to Profit

February 21, 2023

Touting efforts to advance its lubricants business, Nigerian blender Ardova Plc reported strong rebounds in net profit f ...

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Vivo, Engen Merge African Operations

February 14, 2023

Engen and Vivo Energy will combine their respective African businesses to create one of Africa’s largest energy distri ...

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Ardova Chief Wants to Buy Out Minority Owners

February 14, 2023

The majority owner of Nigerian fuels and lubricant supplier Ardova plc has proposed to buy out other shareholders and to ...

Conoil Profits Take a Dive

Conoil Profits Take a Dive

January 31, 2023

Nigerian lubricants blender and marketer Conoil reported 63% less gross profit for the fourth quarter of 2022 and a 57% ...

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South Africa Auto Sales Jumped in 2022

January 10, 2023

Sales of new vehicles in South Africa rose by 14% in 2022 and were just 1% shy of pre-pandemic new vehicle sales in 2019 ...

Steep Drop in Profits for Ardova

Steep Drop in Profits for Ardova

December 6, 2022

Nigerian blender and distributor Ardova Plc reported an 83% drop in net profit and a 10% increase in sales revenue for i ...

Profits Drop for Nigeria’s Conoil

Profits Drop for Nigeria’s Conoil

November 29, 2022

Nigerian lubricants blender and marketer Conoil reported a 38% drop in gross profit and flat sales revenue for the quart ...

NNPC Buys OVH Downstream Business

NNPC Buys OVH Downstream Business

October 11, 2022

Nigerian National Petroleum Co. has acquired OVH Energy Marketing, operator of the Oando fuels and lubricants business a ...

In COVID’s Wake, Maximus Expands

In COVID’s Wake, Maximus Expands

September 23, 2022

Declaring that it sees encouraging signs of recovery from the COVID-19 pandemic, India-based Maximus International Ltd. ...