Lamaane News Network – Somalia & Global News

Business

Turkish drillship Çağrı Bey arrives in Somali waters to launch the Curad-1 offshore oil project.

Somalia to Launch Historic Offshore Oil Exploration Project

05/04/2026 - 20:12:06
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451
Waeis Amin
Mogadishu (Diplomat.so) – Türkiye's ultra-deepwater drilling vessel, Çağrı Bey, arrived in Somali waters off Mogadishu on Sunday, April 5, to begin the country's first offshore oil drilling campaign at the Curad-1 well. The project marks a key milestone in bilateral energy cooperation…
Smallholder farmers harvest cassava in Ogun State, Nigeria, as part of efforts to boost agricultural productivity and market access under new development initiatives.

World Bank Approves $500M Loan for Nigeria Agriculture

03/04/2026 - 23:15:23
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485
Guled Abdi
Abuja, Nigeria (Diplomat.so) – The World Bank has approved a $500 million low-interest credit, to support Nigeria's agricultural sector through the Nigeria Sustainable Agricultural Value-Chains for Growth Project (AGROW), targeting smallholder farmers, agro-processing, and market linkages.
Fresh tomatoes displayed at a local market in Accra, Ghana, as traders respond to renewed cross-border supply flows from Burkina Faso.

Ghana Welcomes Burkina Faso Tomato Export Lift

03/04/2026 - 20:03:56
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259
Guled Abdi
Accra (Diplomat.so) - Ghana's Ministry of the Interior confirmed on Thursday, that Burkina Faso has lifted its suspension on fresh tomato exports, a move expected to ease supply constraints and stabilise prices in Ghanaian markets.
Tehran skyline erupts as explosions rock the city following reported US-Israel airstrikes.

UN: War Threatens Middle East Economic Stability

01/04/2026 - 17:17:35
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561
Aden Abdi
Tehan (Diplomat.so) - The United Nations Development Programme warned Tuesday, that one month of war in the Middle East could erase last year's economic growth across Arab countries and trigger a sharp contraction in Iran.
One of the world's most critical energy chokepoints, the Strait of Hormuz carries a large share of global oil and gas trade. (EPA Images pic).

Malaysia Ships Granted Free Passage Through Hormuz Strait

01/04/2026 - 15:42:49
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617
Jalajed Aden
Kuala Lumpur (Diplomat.so) - The Government of Malaysia confirmed on Wednesday, April 1, that Malaysian vessels awaiting passage through the Strait of Hormuz will transit without paying fees to Iranian authorities, Communications Minister Fahmi Fadzil, who also serves as government spokesperson, said…
Officials from Afreximbank and Dangote Industries meet in Cairo.

Afreximbank Backs Dangote Refinery with $2.5B Loan

01/04/2026 - 02:05:35
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811
Guled Abdi
Cairo (Diplomat.so) – African Export-Import Bank (Afreximbank) has underwritten US$2.5 billion of a US$4-billion senior syndicated term loan in favor of Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) on Tuesday, strengthening the refinery's financial base and supporting its long-term…
Reserve Bank of India (RBI)

Indian Rupee Rebounds After RBI Limits Bank Trading

31/03/2026 - 21:57:41
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269
Jalajed Aden
New Delhi (Diplomat.so) – The Reserve Bank of India (RBI) triggered a sharp rebound in the Indian rupee on Tuesday, by capping banks' net open foreign-exchange positions at $100 million per day, marking its most decisive currency intervention in over a decade.
Sun King, the world's largest off-grid solar provider, begins major investment in Ethiopia.

Ethiopia Secures $13B in Investment Deals

29/03/2026 - 17:44:10
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1440
Guled Abdi
Addis Ababa (Diplomat.so) - The Ethiopia Investment Commission said it secured $13 billion in investment commitments during a national conference in Addis Ababa that concluded Friday, drawing foreign investors into manufacturing, energy, and agriculture sectors, according to Reuters.
Vladimir Putin, President of Russia.

Russia Bans Export of Gold Bars Over 100g

27/03/2026 - 08:58:23
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2048
Hared Abdalla
Moscow (Diplomat.so) – The Russian government has issued a decree prohibiting the export of refined gold bars weighing more than 100 grams from the country, effective May 1, 2026, President Vladimir Putin announced on Thursday.
The Sierra Leone-flagged Sara Sky, which is carrying crude oil from Russia, is seen anchored at Limay port, Bataan province on March 26, 2026. A ship carrying more than 700,000 barrels of Russian crude oil has arrived in the Philippines, a source with knowledge of the matter told AFP on March 26, days after the country declared a national energy emergency over the Middle East war. TED ALJIBE / AFP

Philippines Receives First Russian Oil in Five Years

27/03/2026 - 06:22:37
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487
Jalajed Aden
Manila (Diplomat.so) – Petron Corporation received a shipment of over 700,000 barrels of Russian crude oil at the Limay port near Manila, marking the first direct import from Russia to the Philippines in five years, sources told AFP on Thursday.
U.S. President Donald Trump.

Trump Says Iran Offered "Very Large" Energy Gesture

25/03/2026 - 16:29:07
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483
Amin Guled
Washington, D.C. (Diplomat.so) – U.S. President Donald Trump on Tuesday said the Iran had presented what he described as a "very large" gesture related to oil and gas, while confirming that the United States is maintaining communication with intermediaries in Iran amid efforts to pursue a…
Singapore's Foreign Minister Vivian Balakrishnan arrives to attend the 57th Association of Southeast Asian Nations (ASEAN) Foreign Ministers' Meeting in Vientiane, Laos on July 27, 2024. (PHOTO / AFP)

Singapore Flags Iran War Risk to Asia Economy

24/03/2026 - 05:02:14
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538
Jalajed Aden
Singapore (Diplomat.so) – Singapore's Minister of Foreign Affairs, Vivian Balakrishnan, warned on Monday, that escalating conflict involving Iran could trigger a severe economic crisis across Asia by disrupting critical energy supplies through the Strait of Hormuz.
Fatih Birol

IEA Warns Middle East Energy Damage Hits 40 Assets

23/03/2026 - 21:24:38
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375
Hared Abdalla
Paris (Diplomat.so) – International Energy Agency Executive Director Fatih Birol stated that more than 40 energy assets across nine Middle Eastern countries have suffered "severe or very severe" damage following the U.S.-Israeli war on Iran, during a recent speech in Canberra, Australia, on…
Iranian oil tanker.

US Treasury Authorizes Limited Iranian Oil Sales

21/03/2026 - 03:49:56
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536
Amin Guled
Washington, D.C. (Diplomat.so) - The United States Department of the Treasury on Friday authorized the sale and delivery of Iranian oil and petroleum products stored aboard tankers at sea until April 19, a targeted measure aimed at easing pressure on global energy prices amid disruptions linked to conflict…
Russian oil exports surge to Asia amid Middle East tensions, March 2026.

Russia Gains $150M Daily from Middle East Oil Surge

13/03/2026 - 13:01:25
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566
Hared Abdalla
Moscow (Diplomat.so) – Russia has emerged as a major financial beneficiary of the ongoing Middle East conflict, with new estimates indicating that Moscow is earning an additional $150 million per day from oil sales, stabilizing its previously strained budget, according to government and industry sources.
Nigeria's Foreign Minister Yusuf Tuggar.

Nigeria Urges Gulf States to Partner on Oil Supply

12/03/2026 - 14:05:52
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704
Guled Abdi
Abuja (Reuters + Diplomat.so) - Nigeria's Foreign Minister Yusuf Tuggar told Reuters on Thursday that Gulf oil and gas producers should view Nigeria as a strategic partner rather than a competitor, as escalating conflict in Iran threatens global energy supply chains.
People queue at a gas station to refuel vehicles in Bamako, the capital of Mali, Oct. 29, 2025. (Xinhua/Wang Yue)

Fuel Shortage Disrupts Transport in Mali's Capital

12/03/2026 - 12:51:11
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544
Guled Abdi
Bamako (Diplomat.so) - Drivers across Bamako faced a growing diesel shortage on Thursday after the Malian Oil Companies Association confirmed that limited fuel supplies were being redirected to the state power utility Énergie du Mali to support electricity generation during a period of rising outages.
Oil prices climb as Strait of Hormuz tensions continue, worrying global markets.

Global Oil Markets Hit by Strait of Hormuz Confusion

11/03/2026 - 13:06:45
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665
Aden Abdi
Tehran (Diplomat.so) - Iranian Parliament Speaker Mohammad Baqer Qalibaf sharply criticized the United States on Tuesday after US Energy Secretary Chris Wright posted—and then deleted—a claim that the US Navy had escorted an oil tanker through the Strait of Hormuz. The White House promptly denied…
Iran's IRGC spokesperson, Ali Mohammad Naeini.

Iran Threatens Oil Blockade if Attacks Persist

11/03/2026 - 12:29:28
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660
Aden Abdi
Tehran (Diplomat.so) - The Islamic Revolutionary Guard Corps (IRGC) announced on Tuesday, that it will block all oil exports from the Middle East if U.S. and Israeli military attacks on Iranian infrastructure persist, marking a sharp escalation in a conflict now entering its 10th day.
A view of Mogadishu, Somalia's capital, featuring the Ali Jimale Mosque and towering skyscrapers in the background.

Somalia Fuel Costs Climb as Iran War Hits Oil

10/03/2026 - 17:23:00
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546
Waeis Amin
Mogadishu (Diplomat.so) - Fuel retailers across Somalia sharply increased diesel and gasoline prices on Tuesday, as global energy markets tightened following supply disruptions linked to the ongoing conflict involving Iran in the Middle East.