Africa’s energy markets, as part of the global ecosystem, were impacted, in no small part by the closure of the Strait of Hormuz in Q1-Q2 2026, triggering a reshuffling of the global supply. African producers, once viewed as peripheral substitutes, are now taking centre stage in global buyer strategies. In Nigeria, the downstream market is experiencing fierce competitive dynamics between the Dangote Refinery and restored import licences, while upstream, the historic OPL 245 settlement and the CBN’s 100% FX repatriation reversal are clearing the path for vital IOC capital. Regionally, the transactional pace is accelerating, from European buyers deepening LNG ties in Algeria and navigating above-ground risks in Libya, to complex power and FLNG structuring across Angola, Equatorial Guinea, Gabon, and the Republic of Congo. This edition covers the full picture.