Offshore drilling. Oil rig. The federal government has directed oil and gas companies to reduce the workforce on their offshore platforms in view of COVID-19 pandemic in the country. Director, Continue Reading
Caught in the Saudi-Russian oil price war, Africa’s largest oil producer, Nigeria, has discounted deeply its crude and aims to pump as much as it can, trying to retain customers Continue Reading
With only 709 confirmed coronavirus cases as of March 25, South Africa may be lagging a few weeks behind the outbreaks now unfolding in Europe and North America. But when Continue Reading
Earlier this month, shortly before the global outbreak of the Coronavirus, also known as COVID-19, the price of oil tumbled from $68 to $30 per barrel. It’s a double whammy Continue Reading
Black markets flourish and civilians resort to desperate measures as impact of Libya’s ongoing oil blockade bites A closed petrol station in southern Libya. Since 2011, the country has been Continue Reading
Climate change is worsening the largest plague of the crop-killing insects in 50 years, threatening famine in Africa, the Middle East and the Indian subcontinent. Millions of locusts swarm in Continue Reading
Nigeria, Africa’s top oil producer, announced a one-month lockdown to limit the spread of the coronavirus, banning all international flights and shutting land borders. Authorities are advising residents of the commercial Continue Reading
South Africa’s iconic mines, from the ever-deepening gold shafts on which the economy was founded to massive iron ore pits and rich platinum seams, are about to go silent. From midnight Continue Reading
Nigeria may soon slip out of reckoning as a profitable oil producer in the Organisation of Petroleum Exporting Countries ( OPEC ) if crude oil prices decline further by at Continue Reading
The Covid-19 pandemic is taking a severe impact in the economies of China, Africa’s major trading partner, and also Europe and North America. Even with Africa not suffering an outbreak Continue Reading
Supermarket cashiers wear protective masks in Ouagadougou, Burkina Faso, on March 13, 2020. Facing a double blow of collapsing oil prices and drastic travel shutdowns, Africa is now forecast to Continue Reading
Algeria has banned street protests over the coronavirus, President Abdelmadjid Tebboune said on Tuesday, bringing to an end a year of unprecedented mass demonstrations that brought down the veteran president Continue Reading
Nigeria and other developing countries that rely heavily on oil revenue are set to witness a decline as their income from oil and gas is projected to fall by between Continue Reading
Libya’s state-owned National Oil Corporation, or NOC, said on Monday that the eastern region of the country ‘illegally’ imported an aviation fuel shipment from the UAE in violation of UN Continue Reading
The coronavirus has overwhelmed health-care systems in a number of highly developed nations. Now, it is spreading to some of the world’s most vulnerable countries, with health officials in Africa Continue Reading
Libyan oil production has slipped below 100,000 barrels per day, the National Oil Corp. (NOC) has said, amid warnings of fuel shortages. Output from the North African country has fallen Continue Reading
Algerians are watching to see whether a global epidemic will do what the ruling authorities they describe as le pouvoir – the powers that be – have failed to achieve, Continue Reading
Libya’s oil output graph over the past few years mirrors the oscilloscope readings of a patient on life support. And, things could get worse. State-owned National Oil Corporation, or NOC, Continue Reading
Libya’s oil output graph over the past few years mirrors the oscilloscope readings of a patient on life support. And, things could get worse. State-owned National Oil Corporation, or NOC, Continue Reading
Decades of exposure to gas flaring by the foreign oil refineries in Niger Delta has harmed the health of residents. The harmful plumes of smoke are their constant reminder of Continue Reading
Mining in Libya may eventually become a more significant economic activity than oil production as the country seeks to reduce its economic dependency on oil, Libyan Economy Minister Ali Al-Issawi Continue Reading
Nigeria’s budget estimate appears threatened as oil price drops $5 below the 2020 benchmark on global fears over the impact of the Coronavirus epidemic. Brent crude which is the international Continue Reading
Members of Parliament last Thursday demanded dedicated service stations so that they easily access fuel to enhance their mobility as they work for their constituencies. Manicaland Senator Keresencia Chabuka (MDC-Alliance) Continue Reading
Oil field State governors, who are members of the National Economic Council (NEC), on Thursday explained why the Excess Crude Account ( ECA ) balance dropped by about 78.2 per Continue Reading
Across Somalia, desert locusts in a swarm the size of Manhattan have destroyed a swath of farmland as big as Oklahoma. In Kenya, billions-strong clouds of the insects have eaten Continue Reading
The United States will continue to work with Egypt, Ethiopia and Sudan until they sign an accord on a giant Blue Nile hydropower dam, after failing to secure signatures from Continue Reading
Countries in East Africa are racing against time to prevent new swarms of locusts wreaking havoc with crops and livelihoods after the worst infestation in generations. A lack of expertise Continue Reading
House of Representatives Wednesday said it would pass the Petroleum Industry Governance Bill (PIGB) before the end of June. The Speaker of the House, Hon. Femi Gbajabiamila, said though PIGB Continue Reading
African and Latin American countries have accumulated at least $152 billion in debt to Chinese banks, backed by oil and other mineral resources, a study from non-profit the Natural Resource Continue Reading
At the backdrop of the announcement of the Federal Government’s plans to rehabilitate the country’s refineries by the Minister of State, Petroleum Resources, Timipre Sylva, experts in the petroleum downstream Continue Reading
The United States should step in and help lift the blockade of Libyan oil ports that has decimated the country’s oil production, the chairman of the National Oil Corporation, Mustafa Continue Reading
A new report – the Benchmarking Exercise Report (BER) 2019 – by the Nigerian Natural Resource Charter (NNRC) has said it is unlikely that Nigeria will become a net exporter Continue Reading
Haftar Waiting Out Another Turkish Misstep in Libya Last week, international media said that Libyan oil production had dropped to just under 164,000 bpd. Less than a week later, on Continue Reading
The field marshal stares from billboards into the wreckage of the Libyan city of Benghazi. His uniform is festooned with epaulets and honors, even as the civil war he is Continue Reading
Fuel deliveries in the port of Tripoli were disrupted on Tuesday when a missile almost hit a highly explosive gas carrier and the national oil company ordered all fuel tankers Continue Reading
Offloading operations for fuel vessels in a port in Tripoli have been halted, Libya’s National Oil Corporation (NOC) announced on Tuesday, according to Reuters, as military forces led by Khalifa Continue Reading
Libya’s oil output is down to less than 125,000 b/d, a drop of more than 90% since the Libyan National Army imposed a blockade on the country’s five export terminals Continue Reading
The Nigerian National Petroleum Corporation, NNPC, Tuesday, decried the growing activities of oil thieves and pirates, stating that Nigeria lost about $750 million to oil theft in 2019. In a Continue Reading
The European Union agreed on Monday to launch a new naval and air mission to stop more arms reaching the warring factions in Libya, overcoming initial objections from Austria and Continue Reading
European Union foreign ministers agreed to revive a naval mission in the Mediterranean Sea to enforce the internationally backed arms embargo on Libya, a move likely to encounter stiff challenges Continue Reading
Libya’s combatants are readying for a long conflict, as foreign weapons flood in, eastern factions close oil ports and rival alliances wrangle over revenues from Africa’s largest petroleum reserves. y Continue Reading
A top UN official has described the arms embargo on Libya as a “joke” and said the pause in fighting was “holding by a thread”, in a gloomy assessment of the Continue Reading
In its latest information bulletin on the oil blockade of ports and pipelines released yesterday, Libya’s state National Oil Corporation (NOC) confirmed a drop in production to the current level Continue Reading
Fuel shortages have left motorists in Sudan skipping work to queue for petrol and forced the transitional government to introduce a rationing system as it tries to manage acute economic Continue Reading
Oil operations in South Sudan have resulted in soil and water being polluted with toxic chemicals and heavy metals that have serious consequences on the health of residents in oil-rich Continue Reading
Fully controlling Libya’s oil sector, particularly its oil and gas revenues, remains the big prize for Khalifa Haftar’s self-styled Libyan National Army. Haftar controls the bulk of Libya’s key oil Continue Reading
Nigeria’s oil production could drop by 35 percent in the next ten years as regulatory uncertainty and costs amid languishing oil prices may prompt oil majors to postpone final investment Continue Reading
The United Nations Security Council voted to extend sanctions on illicit oil exports from Libya ahead of a vote on a draft resolution seeking to help resolve the situation in Continue Reading
As the 2019-nCoV coronavirus continues to wreak havoc on the oil markets, dropping oil prices more vehemently and abruptly than the 2003 SARS outbreak did, the current plight of Libya Continue Reading
Oil field The Minister of State for Petroleum Resources, Timipre Slyva, said that about one billion barrels of crude oil have been discovered in the Northeastern part of Nigeria. Mr Continue Reading
