Tanzania aims to achieve its goal of becoming a middle-income, industrialized economy by focusing on reliable, affordable, and sustainable energy. The country recognizes that without sufficient electricity to support industries, businesses, and household needs, economic transformation will be limited. Consequently, energy development has been prioritized as a strategic national objective, according to Daily News.

Seven OPEC+ members have decided to raise oil production quotas once more as the situation in the Middle East stabilizes following recent conflicts. This decision comes amidst ongoing challenges faced by Gulf countries due to the war in the region, according to Vanguard.

The Energy and Petroleum Regulatory Authority (EPRA) has stated that motorists in Kenya will have to wait 30 to 45 days for the recent decline in global oil prices to be reflected in local pump prices. EPRA Petroleum and Gas Director Edward Kinyua noted that global fuel prices are influenced by geopolitical events, citing the recent Middle East crisis as a factor that increased fuel costs.

According to FAO Economist Monica Tothova, the ongoing energy crisis linked to the conflict in the Middle East has not yet impacted global food prices due to existing agricultural reserves. Despite worries regarding energy costs, fertilizer prices, and freight disruptions, the global food commodity market remains stable for the time being.

In July, Tanzanian motorists and households will benefit from a slight decrease in fuel prices, attributed to a ceasefire in the Middle East. However, despite this reduction, fuel costs remain considerably higher than levels recorded before the crisis, according to The Chanzo.

TotalEnergies Marketing Nigeria Plc announced it will not pay a dividend for the financial year ending December 31, 2025, due to significant challenges in the downstream petroleum industry. The company reported a loss after tax of N13.853 billion, a reversal from a profit of N27.496 billion in the previous year, attributed to the ongoing petrol price war.