Minister of State for Petroleum Resources, Chief Timipre Sylva, has assured that Nigeria would meet the three million barrels per day quota allocated to the country by the Organisation of Continue Reading
Oil prices are expected to reach $100 a barrel, yet, as the rates go up, Nigeria will spend more on fuel importation, frittering its market advantage. Despite oil price rally, Continue Reading
Israel, Egypt holding talks on new onshore pipeline -ministry New pipeline expected to cost $200 mln -industry sources Pipeline will boost exports by 3 to 5 bcm/year -industry sources LONDON, Continue Reading
Libya’s National Oil Corporation has reported monthly revenues of $1.796 billion for September from oil and related product sales. The amount is a record for the company, the result of Continue Reading
The 2021 Production Gap Report, by leading research institutes and the UN Environment Programme (UNEP), finds that despite increased climate ambitions and net-zero commitments, governments still plan to produce more Continue Reading
Highlights Sanalla still working despite suspension, sources say Minister Oun says Sanalla under investigation for trips Ministry, NOC battling to control Libya’s energy policy Libyan oil minister Mohamed Oun has Continue Reading
Egypt issues tenders for 17 new desalination plants Eyes adding 2.8 mln cubic metres’ daily desalting capacity To buy water from private plants for subsidised re-sale Emphasis on using solar Continue Reading
Libya’s election problem is still all about oil money. The fear among those who could lose power in Libya as a result of elections planned for December 24th is now Continue Reading
Highlights Russia’s Tatneft had suspended work several times Sanalla calls on other IOCs to boost activities in Libya Libyan crude output about 35% below peak levels Russia’s Tatneft has resumed Continue Reading
South African banks say they have to keep funding at least some coal projects for now because an immediate halt would put huge political and economic strains on a nation Continue Reading
Nigeria’s dependence on crude oil makes its economy vulnerable. But the transition to an economy not based on oil won’t be easy. The oil sector has an outsize influence on Continue Reading
Greece and Egypt will this week ink a preliminary deal to build a large electricity cable connecting the two countries, the first such agreement to be signed between Europe and Continue Reading
Despite lack of activities at the nation’s four refineries, pipeline vandalism continued across the country with over 151 pipeline points in the first quarter of 2021. This upward trend reflects Continue Reading
Moody’s, a renowned rating agency has said that global annual upstream spending needs to increase by as much as 54 per cent to $542 billion if the oil market is Continue Reading
Petroleum Minister Sylva says the Act will also boost oil reserves from 37 billion barrels to 40 billion barrels. The Petroleum Industry Act (PIA) will assist Nigeria in increasing its Continue Reading
The seeming wastage of Nigeria’s most priced natural resource, crude oil, continued in July, with the country losing a humongous 7.193 million barrels of the commodity to mainly deteriorating facilities Continue Reading
The resignation of Libya’s deputy oil minister, Refaat al-Abbar, last week threatens to make the current uneasy situation in Libya’s oil sector even worse. As it stands, Libya is currently Continue Reading
Libya is looking for U.S. oil companies to return to the oil-rich nation, according to Bloomberg. Libya’s oil minister Mohamed Aoun has said that he hopes U.S. companies will return Continue Reading
Emmanuel Addeh writes that Nigeria’s inability to meet its allocated oil production quota by the Organisation of Petroleum Exporting Countries (OPEC) for months, not only poses a clear challenge to Continue Reading
THERE are indications that oil and gas explorations dropped in Nigeria as the rig count fell by 49.5 per cent to 53 in the first eight months (January-August) of 2021, Continue Reading
Delayed maintenance, low investment limit oil output Angola and Nigeria pumped average of 276kbpd below quota – data Nigerian firms rushing works to boost output – Shoreline’s Karim Production below Continue Reading
Africa’s lack of industrial development puts it in a strong position to develop low-carbon manufacturing without the costs of transitioning from fossil fuel-based factories, McKinsey & Co. said. In the Continue Reading
South Sudan’s government warned it may suspend oil output if port protests in neighboring Sudan that have blocked shipments of the landlocked nation’s crude continue. Demonstrators have forced a halt Continue Reading
After months of stalling because of Covid restrictions and OPEC cuts, as well as significant international criticism over misplaced funds, Nigeria appears to be optimistic about the future of its Continue Reading
Dar es Salaam — Tanzania and Uganda’s private sector partnership have agreed on four issues that need addressing if local businesses in the two countries are to benefit from the Continue Reading
Libya’s Prime Minister has revoked a decision by the oil ministry to remove the chairman of the National Oil Corporation, Mustafa Sanalla, from his post. The Libyan oil ministry suspended Continue Reading
Libya’s state-run oil firm has opened an office in London, with the aim of boosting the OPEC nation’s production capacity. Murzuq Oil Services Ltd. will act as the oversees arm Continue Reading
Abuja — For the first time since 2020, Nigeria’s rig count, which had been on the decline, soared to 11 in August, signalling readiness by the Nigerian National Petroleum Corporation Continue Reading
The long-serving head of Libya’s state-run oil company will remain in his post, Prime Minister Abdul Hamid Dbeibah said in a decree, looking to end a feud between two key Continue Reading
Nigeria’s President Muhammadu Buhari has ordered that the process to incorporate the state oil firm as a private company should begin immediately. This is in line with the recent oil Continue Reading
Libya’s National Oil Corporation has revealed that the chairman of its board of directors recently held a meeting with the general manager of Schlumberger Libya. Libya’s National Oil Corporation (NOC) Continue Reading
Crude export operations have returned to normal at two major Libyan oil ports after days of protests and sit-ins that had disrupted loadings, the National Oil Corporation (NOC) said on Continue Reading
US Dollars The current challenge of dollar-crunch in the country may hinder plans by Royal Dutch Shell to sell off its onshore and shallow water assets, being managed by its Continue Reading
Libya’s National Oil Corp (NOC) on Thursday said that a blockade of the Es Sider and Ras Lanuf oil terminals had ended and that export operations had returned to normal. Continue Reading
Four of the world’s richest nations will send a delegation to South Africa as soon as next week to seek a deal to begin closing the country’s coal-fired plants, according Continue Reading
FirstRand Ltd. , Africa’s biggest bank by market value, is ending its funding of new coal-fired power stations immediately and will halt the financing of new projects to mine the Continue Reading
The pipelines operated by a subsidiary of the Nigerian National Petroleum Corporation (NNPC), the Nigerian Pipelines and Storage Company (NPSC) Limited, experienced a total of 451 breaks and 11 fire Continue Reading
Nigeria is seeing one of its worst cholera outbreaks in years, with more than 2,300 people dying from suspected cases as Africa’s most populous country struggles to deal with multiple Continue Reading
Minister of Petroleum and Mineral Resources Tarek El Molla said President Abdel Fattah El Sisi has directed transfer of gas to Lebanon at the nearest possible time. During an interview Continue Reading
The Zimbabwe Electricity Transmission and Distribution Co. said Sunday it has begun daily 12-hour power cuts due limited generation at its thermal plant and repairs on the dam at Kariba Continue Reading
Two of Libya’s key oil export terminals have resumed loading crude on tankers, after protests had stopped operations earlier this week. The Es Sider and Ras Lanuf oil terminals resumed Continue Reading
Mustafa Sanalla Photographer: Stefan Wermuth/Bloomberg Libya’s oil production is in danger of slumping again, as a political power struggle threatens to end a period of relative stability. The standoff comes Continue Reading
The relative stability of Libya’s crude oil production and exports from recent months could abruptly end after protests erupted at several key crude terminals, including one that prevented a tanker Continue Reading
Demonstrators have interrupted loading of an oil tanker and taken over the control room at Libya’s biggest crude terminal, as a fresh wave of protests across the nation’s ports threaten Continue Reading
Libya ’s oil ministry said Monday the decision to suspend the head of the state-run national oil company was still valid, potentially setting the stage for renewed tensions hours after Continue Reading
With its crude oil production already the subject of various ongoing political divisions since the onset of civil war in 2011, another rift has opened up, this time between Libya’s Continue Reading
Nigeria has failed to adequately implement and deliver thousands of projects—funded with $14 billion—to help the social, economic, and infrastructure development of the oil-rich but impoverished Niger Delta region, Nigeria’s Continue Reading
Abuja — India, Netherlands and Spain have now filled the vacuum left by the United States as top buyers of Nigeria’s crude oil, according to a document obtained from the Continue Reading
Nigeria’s journey to the Petroleum Industry Act started in 2000 under President Olusegun Obasanjo, who inaugurated an oil and gas sector reform implementation committee. The committee’s report formed the basis Continue Reading
Italian energy group Eni (ENI.MI) said on Wednesday it had made a giant oil discovery in offshore Ivory Coast which could hold as much as 2 billion barrels of oil. Continue Reading
