Purchasing managers’ index fell to 48.2 in September from 52.1 Index tracking expected business conditions suggests more pain Employees work at a sewing machine, powered by a generator, during a Continue Reading
s Developing countries in Africa are losing a champion that for years allowed them to borrow at cheaper rates than they could find in capital markets. China, Africa’s largest bilateral Continue Reading
Nigeria has failed to capitalize on an oil price boom that has helped cushion other exporters from the impact of inflation, with millions more Nigerians now facing poverty. Data from Continue Reading
Nigeria’s national electricity grid collapsed on Monday leaving many parts of the country without power, electricity distribution companies said. The grid has collapsed at least four times this year, which Continue Reading
The cost of Nigeria’s fuel subsidies rose to 525.714 billion naira ($1.22 billion) in August, bringing the total spent this year to 2.568 trillion naira, according to figures submitted to Continue Reading
Nigeria’s oil output was at the lowest since 1990 as its crude oil production fell below 1 million barrels per day (bpd) in August 2022. And data from the Organisation Continue Reading
Libya’s oil production rose by 3,000 barrels per day (bpd) to 1.186 million bpd on Thursday, according to the National Oil Corporation (NOC), as the African OPEC member exempted from Continue Reading
In view of the massive vandalism and rising cases of oil theft in Nigeria’s oil producing region, the Director of Operations, PPC Limited, Dr. Patrick Ede, has advised the federal Continue Reading
Senate President Ahmad Lawan has warned that unless prompt action is taken, crude oil theft may stagnate the economy and drive it into a coma. Lawan said this Tuesday in Continue Reading
South African power utility Eskom implemented Stage 6 power cuts early on Sunday morning, its worst level touched for the second time this year although a “total blackout” was not Continue Reading
Shell Petroleum Development Company of Nigeria Limited (SPDC) is planning to resume the testing of its main trunkline, the Trans Niger Pipeline (TNP). Vanguard gathered that TNP takes crude from Continue Reading
The Nigeria-Morocco Gas Pipeline Project is an initiative of the Federal Government of Nigeria and the Kingdom of Morocco. The Group Chief Executive Officer of the Nigerian National Petroleum Company Continue Reading
South African power utility Eskom said power outages will be ratcheted up a notch to ‘Stage 5’ from 1000 a.m. (0800 GMT) local on Saturday until 0500 a.m. on Monday Continue Reading
U.S. climate envoy John Kerry cautioned against investing in long-term gas projects in Africa as countries in the region, some hoping to tap recent oil and gas discoveries, wrestle with Continue Reading
Africa, which is home to many of the most climate-vulnerable countries, needs to make its fair share of efforts to reduce global emissions and curb temperature rise, the U.S. Special Continue Reading
Nigeria has continued to waste the rare opportunity presented by the global rise in oil prices to grow its economy like other oil-producing countries, London-based The Economist has stated. While Continue Reading
South Africa’s state-owned power utility has implemented power cuts on 100 days in 2022, with more to come. Eskom Holdings SOC Ltd. ramped up outages to so-called stage-4 load shedding, Continue Reading
Oil rigs Abuja, Nigeria — Nigeria has lost its position as Africa’s top oil producer to Angola, industry insiders say, and could soon become third after Libya. Oil analysts say Continue Reading
South African government plans to end recurring power cuts could take at least a year to deliver results, a top executive at struggling utility Eskom said on Monday. Africa’s most Continue Reading
Nigeria’s oil sector challenges appear to be worsening, with production hitting a record low of 972,394 barrels per day in August, according to data obtained from the Nigerian Upstream Petroleum Continue Reading
Blackouts, long a problem in South Africa, reached a new level of crisis in recent months, affecting every facet of life. South Africans call it “loadshedding.” The state-owned power supplier, Continue Reading
Oil theft Between January and July, Nigeria, Africa’s biggest oil producer, lost an average of 437,000 barrels of oil a day to criminals. Last week, the Group Managing Director of Continue Reading
Italian energy group Eni (ENI.MI) said on Wednesday it had agreed to acquire BP’s (BP.L) business in Algeria, including two major gas fields. Eni said it would take BP’s stakes Continue Reading
Renewed clashes broke out over the weekend in oil-rich Libya’s capital as militia forces aligned with the Government of National Unity (GNU) moved to ensure continued control after a failed Continue Reading
Oil theft We call on the Buhari administration to create as much of a legacy as is still possible, in the next couple of decisive months in which it remains Continue Reading
Oil and oil product theft has become an existential threat to Nigeria. NNPC Group CEO Kyari: 95% of crude oil output at Bonny hub is lost to theft. Stolen crude Continue Reading
A Hyprep remediation site in Eleme, near Port Harcourt, in 2019. Mismanagement, waste and lack of transparency are making the cleanup in the Niger Delta’s Ogoniland anything but exemplary, UN Continue Reading
Oil refinery The agreement will help Nigeria side-step the likely crude oil glut that will follow as more countries move away to cleaner energy. The Nigerian government says it has Continue Reading
Charred cars and buildings pockmarked by bullets scarred Libya’s capital on Sunday, the day after intense fighting killed 32 people yet appeared to leave the Tripoli government more firmly entrenched. Continue Reading
Deadly clashes in Tripoli, Libya, erupted over the weekend between armed groups loyal to rival political leaders. The oil-rich nation has been racked with violence since 2011. Photo: Hazem Ahmed/Reuters Continue Reading
Nigeria released some funds owed to international air carriers to try and avert a crisis in the aviation sector amid warnings of flight suspensions from operators including Dubai’s Emirates Airline. Continue Reading
Intense fighting erupted in the Libyan capital overnight and lasted into Saturday morning, with rival factions exchanging heavy gunfire and the sounds of several loud blasts ricocheting around the city. Continue Reading
Four major oil companies have agreed to end U.S. lawsuits that together sought to enforce multi-billion dollar arbitration awards against Nigeria’s state-owned oil company, after reaching new deepwater oil production Continue Reading
An entrance of the oil refinery of Eni is seen in Taranto, southern Italy, September 21, 2018. REUTERS/Alessandro Bianchi/File Photo MILAN, Aug 24 (Reuters) – The chief executive of Eni Continue Reading
Egypt is struggling with high inflation and dwindling financial reserves. High natural gas prices and increasing LNG exports could help Cairo fill its coffers again. Egypt needs to improve regional Continue Reading
Libya’s oil production is now at 1.211 million barrels per day (bpd), according to the country’s National Oil Corporation (NOC)—a level last seen before the port blockades that began this Continue Reading
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mallam Mele Kyari, yesterday poured cold water on calls for the legalisation of artisanal illegal refineries in Continue Reading
Yeyerisa Abimbola has dedicated most of her 58 years on Earth to the Osun, a waterway in deeply religious Nigeria named for the river goddess of fertility. As the deity’s Continue Reading
One of Nigeria’s leading energy giants, Shell Petroleum Development Company of Nigeria Limited (SPDC) has disclosed that the Shell Group would not go ahead with the divestment of its interest Continue Reading
Shell slashed its refinery output at its Shell Energy and Chemicals Park Rheinland fuel-making facility as low Rhine River levels halted the flow of goods, Shell said on Thursday. “Due Continue Reading
Mozambique is poised to ship its first cargo of liquefied natural gas overseas, joining the ranks of the world’s exporters as a global energy crunch pushes prices of the fuel Continue Reading
Emirates Airlines plans to suspend all flights to and from Nigeria because of an inability to repatriate funds out of the country, the carrier said on Thursday. The Dubai-based airline Continue Reading
An initiative backed by Coca-Cola, Unilever and Danone to recycle the plastic waste choking Ghana is better at deflecting blame and avoiding regulation than actually recycling. Agnes Kwansah dragged her Continue Reading
Nigeria was hit by a nationwide electricity blackout on Wednesday after workers at the Transmission Company of Nigeria (TCN) shut the national grid as they began an indefinite strike over Continue Reading
Again, Nigeria has hit a new oil production loss record as a result of disruptions to its crude assets due to maintenance challenges, community issues and prolonged force majeure. Latest Continue Reading
Nigerian police said on Tuesday two oil pipelines that feed the Brass export terminal, one of Nigeria’s export streams operated by Italian group Eni (ENI.MI) , were recently blown up Continue Reading
As the EU grapples with an energy crisis and seeks alternatives to Russian pipeline gas, the bloc plans to increase its financial support to a military mission in Mozambique – Continue Reading
There are plenty of promising oil and gas opportunities in Africa, but the global transition away from carbon-intensive energy sources makes it a controversial issue. With global demand for oil Continue Reading
Military recovers 3.75 mil barrels of stolen crude Nigeria losing close to 400,000 b/d oil output to theft: NNPC Bonny Light, Forcados exports remain disrupted Nigerian security agencies have scaled Continue Reading
Highlights Military recovers 3.75 mil barrels of stolen crude Nigeria losing close to 400,000 b/d oil output to theft: NNPC Bonny Light, Forcados exports remain disrupted Nigerian security agencies have Continue Reading
