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Business May 12, 2026

Dangote Targets Mombasa for $15‑17bn Oil Refinery: Implications for Africa’s Energy Future

Aliko Dangote, Africa’s richest man, is eyeing a $15‑17 billion oil refinery in Mombasa, Kenya afte…
Lead: Dangote’s Next Mega‑Refinery in East AfricaAliko Dangote announced plans to build a new oil refinery in Mombasa, Kenya, following the successful launch of his 650,000 bpd Lagos facility in early 2026. The move comes as African nations scramble for energy security after the Iran‑related closure of the Strait of Hormuz.Dangote’s Plan for a Mombasa RefineryIn an interview with the Financial Times, Dangote said he prefers Kenya over Tanzania because Mombasa offers a larger, deeper port and a bigger domestic market. He indicated that the final decision rests with President William Ruto, who has been championing a joint East African refinery at Tanzania’s Tanga port.Location: Mombasa, Kenya – deep‑water port with higher throughput capacity.Projected start‑up: mid‑2028 (based on typical 2‑year construction timeline for similar projects).Strategic partner: still under discussion; potential involvement of regional governments and private investors.Financial Scale and Capacity MetricsConstruction cost: estimated between $15 bn and $17 bn.Processing capacity: expected to mirror Lagos’s 650,000 bpd, making it one of the largest single‑train refineries on the continent.Regional demand: East Africa currently imports the majority of its refined products; Kenya alone imported 40 million barrels in 2025.Refining gap: Africa refines only about 44 % of its oil consumption, leaving a heavy reliance on Middle‑East imports.Strategic Impact on African Energy SecurityThe Mombasa refinery would reduce East Africa’s vulnerability to geopolitical shocks such as the Hormuz closure, which disrupts roughly 20 % of global oil and gas shipments. Local refining could lower fuel prices, cut transport costs, and provide by‑products like fertilisers and petrochemicals, boosting agriculture and manufacturing.Analysts note that while Dangote’s Lagos plant has already begun exporting jet fuel and diesel to neighboring countries, the East African market presents a more fragmented political landscape that could test the scalability of his model.Outlook: How the Project Could Reshape Regional RefiningIf completed on schedule, the Mombasa refinery could position Kenya as a net exporter of refined products, encouraging similar investments in Uganda, Tanzania and the broader Horn of Africa. Competing projects, such as Angola’s $470 m Cabinda refinery and Uganda’s planned 60,000 bpd plant, suggest a continent‑wide shift toward self‑sufficiency.Ultimately, the success of Dangote’s East African venture will hinge on government policy, financing structures, and the ability to navigate cross‑border logistics. A functional Mombasa refinery could set a precedent that accelerates Africa’s transition from oil importer to regional energy hub.
#Aliko Dangote #Kenya #Mombasa
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Music May 12, 2026

Remembering Cesária Évora: The Cape Verdean Singer Who Brought African Music to the World

Cesária Évora, a renowned Cape Verdean singer, rose to global fame with her album 'Miss Perfumado' …
The Legacy of Cesária Évora Cape Verde, an archipelago off the coast of Senegal, is home to around 800,000 people. For decades, the country's music was little known beyond its borders. That changed in 1992 when Cesária Évora released her album 'Miss Perfumado', which became a crossover hit across Europe, selling 500,000 copies in France alone. In the US, Évora became the biggest-selling African artist of the 20th century. The Rise to Fame Évora's music career began with performances in bars in her early teens. She recorded music in the 1960s, but it wasn't until 1985, when she was discovered by José da Silva, a Paris-based Cape Verdean musician, that her career took off. Da Silva founded the Lusafrica label specifically for her, and her album 'Mar Azul' (Blue Sea) in 1991 marked a turning point in her career, leading to her international fame. The Impact of Her Music Évora's music introduced the world to traditional Cape Verdean mornas, mournful ballads sung in the Kriolu language. She collaborated with top Cuban and Brazilian musicians, and famous fans like Caetano Veloso and Bonnie Raitt made guest appearances on her albums. Évora's influence can be detected in later artists, including Madonna, who requested Évora to sing at her wedding. The Personal Story Évora's life was marked by hardship and struggle. Raised in poverty, she was placed in an orphanage at 10. She struggled with alcoholism and depression but found solace in her music. Despite her international fame, Évora remained humble and dedicated to her homeland. The Future of Her Legacy Évora's legacy continues to inspire new generations of musicians. A concert at London's Barbican will celebrate her music with mornas performed by rising Cape Verdean singers. Her impact on African music and global culture is undeniable, and her name will continue to be celebrated for years to come.
#Cesária Évora #Cape Verde #African Music
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Politics May 12, 2026

Pakistan Struggles to Save US-Iran Ceasefire as Diplomatic Tensions Mount

Pakistan faces diplomatic challenges as it mediates between the US and Iran, with the fragile cease…
The Fragile Ceasefire at Risk Islamabad has rejected allegations that it sheltered Iranian military aircraft from potential US strikes as the fragile ceasefire it helped broker between Washington and Tehran appears increasingly at risk. The diplomatic tensions come as US President Donald Trump dismissed Iran's latest peace proposal as "a piece of garbage" that he had not even finished reading, describing the month-old truce as being "on massive life support." Pakistan's Diplomatic Dilemma The Ministry of Foreign Affairs in Pakistan called the CBS News report about Iranian aircraft being moved to Pakistan Air Force Base Nur Khan "misleading and sensationalised," stating the aircraft had arrived as part of diplomatic logistics for talks in Islamabad between US and Iranian officials on April 11. Pakistan emphasized that both Iranian and US aircraft used the base during the ceasefire period, and any significant foreign military presence at the base would be impossible to hide. "The Iranian aircraft currently parked in Pakistan arrived during the ceasefire period and bear no linkage whatsoever to any military contingency or preservation arrangement," the ministry said, adding that Pakistan had "consistently acted as an impartial, constructive and responsible facilitator" throughout the process. Washington's Growing Skepticism Despite Pakistan's denials, concerns in Washington have grown. A CNN report suggested some Trump administration officials believe Pakistan has been sharing "a more positive version of the Iranian position with the US than what reflects reality" while questioning whether Islamabad was "aggressively conveying Trump's displeasure." US Senator Lindsey Graham, a Trump ally, called for "a complete reevaluation" of Pakistan's mediator role. However, analysts suggest the controversy is unlikely to significantly damage Islamabad's position. "Pakistan has done more than many had expected. Delivering a ceasefire in an environment marred by sheer distrust was no mean feat," said Syed Ali Zia Jaffery, deputy director at the Centre for Security, Strategy and Policy Research at the University of Lahore. Deadlock in Peace Negotiations The immediate trigger for the latest tensions was Washington's rejection of an Iranian peace proposal delivered through Pakistan on Sunday. Iranian state media said Tehran's terms included US war reparations, full Iranian sovereignty over the Strait of Hormuz, an end to sanctions, and the release of frozen assets, while insisting nuclear negotiations be deferred. "I would say the ceasefire is on massive life support," Trump said in the Oval Office, describing the situation as one "where the doctor walks in and says, 'Sir, your loved one has approximately a 1 percent chance of living.'" Iranian officials rejected this characterization, calling their proposal "reasonable and generous" and insisting they had demanded "only Iran's legitimate rights." Regional and International Ramifications The core disagreements between Washington and Tehran remain unchanged. The US wants Iran to explicitly abandon its nuclear program and surrender its stockpile of uranium enriched to 60 percent, while Tehran insists nuclear negotiations can only follow the lifting of sanctions and the end of the US naval blockade imposed on its ports. Since the Islamabad talks ended without an agreement on April 12, Pakistan has continued to act as an intermediary, carrying proposals between the two sides. Qatar has also backed the mediation effort, with US Secretary of State Marco Rubio meeting Qatari Prime Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani in Miami, Florida. Path Forward Amid Uncertainty Trump is expected to discuss the Iran crisis with Chinese President Xi Jinping during a visit to Beijing this week, as Washington hopes Beijing could use its influence with Tehran. China is Iran's biggest economic and strategic partner, and Iranian Foreign Minister Abbas Araghchi met Chinese Foreign Minister Wang Yi in Beijing last week. The Iranian foreign minister is also expected to attend a meeting of BRICS foreign ministers in India, alongside top diplomats from Saudi Arabia and Egypt. "For the ceasefire, this is actually stabilising. More parties with skin in the game raise the cost of collapse for everyone," said analyst Mohanad Seloom. Meanwhile, Israeli Prime Minister Benjamin Netanyahu indicated that if Iran's nuclear material could not be removed through negotiations, Israel and the US agreed "we can re-engage them militarily." Former Qatari Prime Minister Sheikh Hamad bin Jassim Al Thani warned that the weaponisation of the Strait of Hormuz was "the most dangerous outcome" of the conflict, suggesting the crisis would outlast any ceasefire.
#Pakistan #US-Iran Relations #Ceasefire
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Environment May 12, 2026

Green Bridges: UK's Innovative Solution to Wildlife Motorway Crossings

The UK is implementing green bridges to reconnect fragmented wildlife habitats divided by motorways…
The Wildlife Crisis on UK MotorwaysWhen James Herd moved near Wisley Common 17 years ago, the heathland nature reserve was teeming with wildlife. "I'd take the dog around the common in spring and summer, and every few hundred metres I'd hear the rustle of a lizard in the undergrowth – and I'd see adders," he recalls.Over the past decade, however, the Surrey Wildlife Trust's director of reserves management has witnessed a significant depletion of wildlife. "There was a period, eight or nine years ago, when I'd get home and think: 'God, I didn't see or hear any evidence of reptiles.'"The culprit is the A3, a main arterial road into London that carries hundreds of thousands of vehicles daily. "It has fragmented the habitat, disconnected the ecological permeability of the site," Herd explains. "So species on this side of the common can't get to that side of the common because there's six lanes of tarmac and vehicles doing 70mph in the way."The Cockrow Bridge: A Green SolutionFrom the rubble of the £317m M25 improvement scheme, which widened the A3 at the Wisley interchange, emerged an innovative solution: the Cockrow Bridge. This "green bridge" serves as a wildlife crossing connecting the fragmented reserves, giving biodiversity a chance to recover."This isn't just about big, charismatic species – it's about reconnecting entire communities of insects," Herd emphasizes. The bridge allows a range of animals and insects to move between habitats and thrive despite the major infrastructure project.The bridge itself is a floating patch of nature reserve; its contents were excavated and transplanted from the heathland on either side. Heather, the tough wiry shrub that defines heathland, is already springing up in purples and yellows above the A3's roar, supporting the area's insects and reptiles."They can feed here, get cover, they can bask, they can breed," says Herd. Ground-nesting birds, such as nightjars, woodlarks and Dartford warblers, will also benefit from the newly connected landscape. Piles of sand have been added to provide breeding habitat for the highly threatened sand lizard, while logs line the back of the bridge for cooling and predator cover.Environmental Impact and Cost AnalysisAccording to the UK's State of Nature report, average abundance of 753 terrestrial and freshwater species has fallen by about 19% since 1970. Of more than 10,000 species assessed in Great Britain, 16.1% – nearly 1,500 species – are threatened with extinction.While there is no definitive data on the specific impact of roads, experts say the links between infrastructure and biodiversity loss are clear. "It is based around genetic isolation," Herd explains. "They will breed and breed and breed, but the gene pool becomes tighter and tighter and tighter, and that's not a good thing."The result is fragmented populations, weakened gene pools and less space for species to adapt to climate crisis. The Cockrow Bridge represents a significant investment in environmental infrastructure, though the exact cost of this specific crossing isn't detailed in the article.Changing Conservation Approaches in InfrastructureThe Cockrow Bridge signals a shift in how major infrastructure projects approach environmental considerations. Rather than simply mitigating damage, the project actively seeks to restore and enhance ecological connectivity."Herd, who advised National Highways on the project, says the Cockrow Bridge 'changes how the ecosystem functionality can evolve and function better, in a landscape where species can interact more freely.' By building a link, 'we've removed a barrier.'"While the bridge is not yet officially open, wildlife has already begun using it. Foxes, roe deer and adders have been spotted on the crossing, demonstrating the immediate benefits of reconnecting habitats.The Future of Wildlife Crossings in the UKThe Cockrow Bridge could serve as a model for future infrastructure projects across the UK and beyond. As biodiversity continues to decline, innovative solutions that integrate conservation with development will become increasingly important."The bridge will allow a range of animals and insects to move between habitats and thrive despite the major infrastructure project," the article notes, suggesting that such crossings could become standard features in road planning.As climate change accelerates, the ability of species to migrate and adapt will be crucial for their survival. Wildlife crossings like the Cockrow Bridge may provide essential corridors that allow species to shift their ranges in response to changing environmental conditions.
#Wildlife Crossings #Cockrow Bridge #Sand Lizard
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Entertainment May 12, 2026

Artist Sung Tieu Recreates Childhood Home as Monument to Immigrant Workers at Venice Biennale

Artist Sung Tieu has recreated the Berlin housing complex where she lived as a child at the Venice …
The Artist's Monument to Forgotten WorkersAn air of civilisational wipeout hangs over the Gehrenseestrasse complex, an abandoned housing estate on the north-eastern outskirts of Berlin, where the city still looks shabby without the chic. The insides of the nine prefabricated blocks have long been gutted; six floors of empty window frames stare hollow-eyed over multi-lane carriageways. In the courtyard, paintballers have left behind wooden barricades from when they played at World War III.Yet in one of the second-floor rooms of Berlin's largest ruin, artist Sung Tieu is waltzing across the concrete floor and reliving scenes from her childhood. "Here was the single bed I shared with my mother for three years," she says, pointing into a corner of the small room. "Two metres by 90cm, can you believe it?" There in the corridor is where her neighbours used to make bánh bao dumplings on camping stoves, for lack of private kitchens. "I still remember the smell." Here was the door through which she used to entertain her best friend when his mother locked him in during working hours. "We played cards through the gaps," she recalls with glee.But she also still remembers where neo-Nazis tried to throw molotov cocktails into the building: "They eventually set up a net because the windows kept on getting smashed".The Mosaic Recreation of a Lost CommunityThese days, few people have heard of the Gehrenseestrasse complex, whose last tenants left in 2002. But if Tieu had her say, it would be as essential a stop on the tourist trail as the Brandenburg Gate, the Reichstag or Checkpoint Charlie. There is, in her view, no place that better tells the story of the Vertragsarbeiter generation – the oft-forgotten workers who were hired on fixed-term contracts from socialist "brother states" in Vietnam, Mozambique, Angola or Cuba to boost the East German economy. "To me, this place is a monument," says Tieu.By the end of this summer, many more people in Germany – and art enthusiasts around the globe – will know about her childhood home. For this year's Venice Biennale, Tieu has clad the German pavilion with a like-for-like replica of the complex's facade, recreating the grey concrete and smudges of graffiti with three million mosaic stones made in Ravenna. She conceived the pavilion in tandem with the artist Henrike Naumann, who died in February from cancer aged only 41.Bureaucracy as Artistic MediumThe woman I meet at a Vietnamese restaurant in Berlin's Lichtenberg district is the antithesis of that exoticised cliche: modest, dressed all in black, analytical in her answers to my questions. She talks me dispassionately through the more experimental food options on the menu, but comes alive when explaining bilateral treaties and labour regulation."I really try to avoid the pure post-migrant diaspora narratives. By focusing on individual experience you can lose sight of the bigger picture. Contracts, state treaties, floorplans – that's what I am interested in. There has to be a certain formal toughness."Looking through her catalogue raisonné you are reminded of Marcel Duchamp. You see an artist dedicating her career to seeking ever more minimalist ways to express the same idea, from Cubist painting to readymade to annotations of chess moves. And in Tieu's case, that big idea is bureaucracy. In 2015, she reprogrammed the scrolling LED displays at a shop inside the Dong Xuan Centre, Berlin's largest Asian market, to display the texts of immigration treaties. For a group show at Berlin's Haus der Kulturen der Welt in 2024, she transcribed by hand documents from the national archives on the East German porcelain industry, authenticating them with her own ornamental stamp. Her website, fittingly, is just a long index of file names and a deadpan biography section: "Sung Tieu is an artist."Childhood Trauma and Artistic Vision"I think it's also a childhood trauma," she says when I ask her where her interest in bureaucracy comes from. "I've had to fill out forms for my mother since I was five, since she didn't speak any German. And by the time I was seven my German was better than hers. Bureaucracy was part of my childhood – I studied politics and administration because I wanted to understand it."Born in 1987 in Hai Duong, northern Vietnam, Tieu moved with her mother to what was by then the formerly socialist East German regions in 1992. They were joining up with her father, who had moved to the GDR five years earlier via a bilateral agreement for factory workers from the socialist republic.Initially announced in the romantic spirit of ideological solidarity, the treaty between the two states soon became a more hard-nosed deal, addressing ongoing labour shortages in East Germany while helping to rebuild a war-ravaged Vietnam, which took a...The Legacy of Forgotten WorkersTechnically there was no racism in the GDR, because it wasn't documented. But of course it always existed. This is the uncomfortable truth that Tieu's installation confronts – the erasure of immigrant experiences in official narratives, even as these workers were essential to East Germany's economy.Through her art, Tieu transforms personal memory into collective history, giving voice to the thousands of contract workers who built East Germany but were never fully acknowledged as part of its society. The Venice Biennale installation, with its meticulous recreation of a housing complex that many would prefer to forget, serves as both memorial and critique – a reminder that the stories of immigrants are integral to understanding modern Germany.The Future of Migration Narratives in ArtAs Europe continues to grapple with questions of migration and identity, artists like Sung Tieu are pioneering new forms of expression that move beyond personal stories to examine the structures and systems that shape immigrant experiences. By focusing on bureaucracy, architecture, and official documents, Tieu creates art that is both deeply personal and universally relevant.The Venice Biennale platform ensures that these often-overlooked histories reach a global audience, challenging visitors to reconsider their understanding of migration, labor, and belonging. As Tieu continues her exploration of these themes, we can expect more installations that transform bureaucratic systems into powerful artistic statements, creating spaces where the voices of the marginalized can be heard and remembered.
#Sung Tieu #Venice Biennale #Berlin
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Sports May 12, 2026

Gaborone Gold Rush: Botswana's Meteoric Rise to Men's Sprinting Dominance

Botswana has emerged as a powerhouse in men's sprinting, with recent victories at the World Athleti…
The Fairytale Victory in GaboroneIt was a fairytale ending to the World Athletics Relays in Gaborone. In the final strait, Collen Kebinatshipi surged past South Africa's Zakithi Nene to win the men's 4x400m relay for Botswana. The home crowd, a sea of light blue, went wild as the small African nation celebrated another remarkable achievement in their meteoric rise to sprinting dominance."It means so many things to us," Letsile Tebogo, 22, the reigning 200m Olympic champion, who ran the second leg, told reporters afterwards. "Not just the team … but for the people that always cheer for us behind the TV. Now they had that experience to see first-hand how much effort, how much pressure, how much we give for them."Botswana's Sprinting RevolutionBotswana, a country larger by area than Spain with a population of just 2.5 million, has had a meteoric rise to the top of men's sprinting. Tebogo's Olympic gold in Paris in 2024 was the country's first, and only its fourth medal of any colour. The men's 4x400m relay team took silver, improving on bronze from three years earlier. Then, at the world championships in Tokyo last year, Kebinatshipi won the 400m while the relay team he anchored also took home gold.The athletes are superstars in Botswana, their faces plastered on billboards advertising everything from mobile phone contracts to milk. "My life has changed a lot," Kebinatshipi told a press conference before the relays. The 22-year-old, who started running at school, said he now allowed half an hour for photos with fans when he went out shopping. "At first I was a bit nervous, because I wasn't used to it … Nowadays I'm used to it, so it's cool with me," he said.The Infrastructure Behind SuccessYears-long investment in young athletes is one of the biggest reasons for the southern African country's recent success, sports officials said. The Botswana Athletics Association's chief executive, Mabua Mabua, said: "I must thank the school sports programmes that we used to have, because basically all of the athletes that you are seeing, the youthful ones, are coming from that programme."He also highlighted the country's infrastructure. "All of the preparations for the team are done locally. Normally people say 'no, they should go to Europe, USA, for preparations'. It's local coaches, a local environment."The Botswana National Sports Commission runs programmes for 15 sports to spot and nurture talent. Re Ba Bona Ha, meaning "We See Them Here" in Setswana, is a coaching initiative for children aged five to 13 that was launched for football in 2002, with athletics added in 2008. Up to 300 children attend athletics sessions every year, said Frederick Kebadiretse, the BNSC's sports development manager.Then there are twice-yearly holiday camps to identify older students for eight centres of sports excellence, which were founded in 2011. The centres run weekday afternoon and weekend training sessions, with 30 to 40 students picked for athletics annually.The Gender Gap in Botswana AthleticsBotswana's female athletes have not yet matched the men's results. Oratile Nowe, the seventh fastest woman this year over 800m, is the current highest performer.The officials admitted more needed to be done to support women and girls. "We need to widen the pipeline so we can get more and more young women to join," Mokgwathi said. "The other thing, of course, is to encourage more and more women to become coaches and technical officials … And we need to protect young women coming into the sport, so that they stay."Preserving Botswana's Athletic LegacySports officials warned that without the school sports programme, which was suspended in 2019 due to a dispute between the government and teachers, Botswana's recent athletics success was at risk. "The pipeline is not there," said Martin Mokgwathi, who chaired the world relays organising committee. "[Performance] will dip unless something is done very, very quickly."The atmosphere at the World Athletics Relays was described by World Athletics president Sebastian Coe as one of the top three he had experienced in athletics. "I put that atmosphere in the top three that I've experienced live in athletics. The first was Cathy Freeman winning in Sydney. The second was Mo Farah hitting the front with a lap or so to go in the 10,000 in London, when the wall of noise was deafening … [This] comfortably sits in the top three for me."The Future of Botswana's Athletic DominanceAs Botswana celebrates its current success, the focus is on maintaining momentum and addressing challenges. The suspension of school sports programs remains a significant concern, with officials emphasizing the need to restore this vital talent pipeline. Additionally, there's a growing recognition of the need to develop women's athletics to match the men's success.With emerging talents like Resego Kelly Makwala, 15, the daughter of former Botswana sprint star Isaac Makwala, there are promising signs for the future. However, sustained investment in infrastructure, coaching, and youth programs will be crucial to ensure Botswana continues its remarkable rise in global athletics.
#Botswana #Letsile Tebogo #Collen Kebinatshipi
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Entertainment May 12, 2026

Sailm nan Daoine Review: Reviving Gaelic Psalm Singing on the Big Screen

Jack Archer’s documentary follows Gaelic psalm singer Rob MacNeacail as he travels Scotland, the Ou…
Opening Snapshot: A Portrait of Rob MacNeacail’s QuestThe Guardian’s review highlights Rob MacNeacail, a charismatic Gaelic psalm singer, as the heart of Sailm nan Daoine (Psalms of the People). Directed by Jack Archer, the film follows MacNeacail from his home on the Scottish borders to remote singing communities, offering an intimate look at his mission to keep the tradition alive.Documenting a Living Tradition: The Film’s Journey Through Gaelic Psalm SingingArcher’s observational portrait captures MacNeacail’s travels to the Outer Hebrides, Skye, Belfast and County Cork, where he meets fellow singers and precentors. The documentary explains the communal structure of psalm singing—one precentor leads a line, the congregation replies in their own tempo, creating a layered, wave‑like sound without instrumental accompaniment.Release Details and Distribution FootprintRelease date: 15 May 2026Territories: United Kingdom and IrelandFormat: Theatrical cinema releaseWhy Gaelic Psalm Singing Matters: Cultural ImpactBeyond its religious roots, the practice is a cultural repository of the Scottish Gaelic language. MacNeacail, son of poet Aonghas MacNeacail, frames his singing as a form of decolonisation, noting how Gaelic phrasing can displace English translations in his mind. The film’s gentle exposure may encourage younger audiences to explore the language and its musical heritage.Future Outlook: Preserving Gaelic Musical HeritageIf the documentary reaches a broader audience, it could act as a catalyst for renewed community workshops and recordings, helping to safeguard a tradition that has survived centuries of linguistic suppression. Continued cinema screenings and potential streaming releases would further amplify its preservation impact.
#Sailm nan Daoine #Rob MacNeacail #Jack Archer
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Business May 12, 2026

Iran War Forces Japan's Calbee to Switch to Black-and-White Packaging

Japan's largest snack maker, Calbee, is switching to black-and-white packaging for 14 of its produc…
The Packaging Pivot Japan’s biggest snack maker, Calbee, has been forced to use black-and-white packaging for some flagship products because of ink ingredient shortages caused by the Strait of Hormuz blockade. Details of the Supply Chain Disruption Calbee, whose potato chip brands in particular are known for brightly coloured bag designs, said 14 of its products would switch to monochrome branding by the end of May. The move to black and white was forced on Calbee by disrupted supplies of naptha, an ink ingredient derived from petroleum. Impact on Business Operations Calbee said it was reacting to an unstable supply of “certain raw materials” due to the war. Japanese companies have lately sought to minimise the impact of rising costs and material shortages even as the government seeks to reassure the public and businesses over supplies. Government Response and Future Outlook A government spokesperson said domestic naphtha refining continued with the use of stockpiled crude oil, while imports from outside the Middle East have tripled in May compared with levels from before the Iran war broke out in late February. Kei Sato, a senior government spokesperson, assured the public that naptha shortages would not cause wider disruption.
#Calbee #Japan #Iran
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Economy May 12, 2026

US to Release 53.3 Million Barrels from Oil Stockpiles

The US has announced the release of 53.3 million barrels from its strategic petroleum reserve in co…
The US Oil Stockpile Release The United States has announced its latest release of emergency oil stockpiles in coordination with the International Energy Agency (IEA). The US Department of Energy said on Monday that it had begun transferring 53.3 million barrels from the strategic petroleum reserve after awarding contracts to nine companies under its emergency exchange programme. Contract Details Trafigura Trading LLC, a Texas-based commodities trading company, was granted the biggest haul of nearly 13 million barrels, with Marathon Petroleum Corporation and ExxonMobil set to receive 12.4 million barrels and 11.4 million barrels, respectively. Macquarie Commodities Trading US, Atlantic Trading & Marketing, BP Products North America, Energy Transfer Crude Marketing, Mercuria Energy America and Phillips 66 will receive between 1.05 million and 6.55 million barrels each, according to the Energy Department. The Impact on Oil Prices The transfer comes after US President Donald Trump's administration agreed in March to release 172 million barrels of crude as part of the IEA's coordination of the largest unloading of global stockpiles in history. Oil prices have surged since the US and Israel launched their war on Iran in late February, with Tehran's retaliatory blockade of the Strait of Hormuz paralysing one of the world's most important trade routes. The Future Outlook Oil prices continued to edge higher on Monday after Trump dismissed Iran's latest peace proposal and warned that the ceasefire between the sides was "on life support", dampening hopes for a quick resolution to the conflict. Facing growing public discontent over rising fuel prices, Trump on Monday also pledged to waive the 18.4 cents-per-gallon federal tax on petrol, though taxation is the purview of the US Congress. Futures for Brent crude, the international benchmark, were up about 1 percent in Asia on Tuesday morning, topping $105 a barrel.
#US Department of Energy #International Energy Agency #IEA
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