Nigeria’s Oil Rig Count Dips By 30% in One Month
Nigeria’s active rig count has dropped significantly by 30 per cent to seven in October 2020 as against 10 recorded in the previous month. The rig count is a reflection Continue Reading
West Africa: Greek Crew Held Hostage After Kidnapping Off West Africa
Greek authorities say negotiations are underway to free three sailors kidnapped off the Nigerian coast. Analysts warn there has been a “sharp increase” in incidents in the Gulf of Guinea. Continue Reading
Total And Exxon Renegotiate A Major Gas Sharing Deal
Supermajors ExxonMobil and Total are renegotiating a natural gas resource sharing deal for their respective liquefied natural gas (LNG) projects offshore Mozambique, Reuters reports , citing sources with knowledge of Continue Reading
The OPEC Producer Looking To Sell A Stake In Its Oil Company
OPEC producer Angola plans to raise much-needed cash via selling a stake in its state oil firm Sonangol by early 2022 as the crash in oil prices—and the pandemic—severely weakened Continue Reading
Nigeria: NNPC Targets 3 Million Bpd Oil Production
The Nigerian National Petroleum Corporation, NNPC, said it targets to achieve 3million barrels per day, bpd, oil production in no distant time. The Group Managing Director, NNPC, Mele Kyari stated Continue Reading
Nigeria: Explosions Rock Shell, AGIP Facilities in Bayelsa
Explosions have damaged oil and gas facilities belonging to the Shell Petroleum Development Company of Nigeria and the Nigerian Agip Oil Company around Ikarama in the Yenagoa Local Government Area Continue Reading
Libya’s Oil Company Clashes With Central Bank Over Earnings
Libya’s National Oil Corporation (NOC) will not be transferring the revenues from crude oil sales to the Central Bank of Libya until the bank adopts transparent policies on the spending Continue Reading
Libya’s NOC under pressure as oil revenue feud heats up
An armed group attempted to break into the Tripoli headquarters of Libya’s National Oil Corporation on Nov. 23 as the state-owned company finds itself in a dispute over oil revenues Continue Reading
Nigeria Weaning Itself Off Oil in Five-Year Plan to Rescue Economy
Nigeria has this past week indicated its gradual departure from over-dependence on oil sales in a new plan that banks on five major sectors of the economy. According to the Continue Reading
Nigeria Needs N3tn to Tackle Infrastructure Deficit, Says Moody’s
One of the leading global rating agencies, Moody’s Investors Service, has stated that the infrastructure in Nigeria is behind other emerging market peers, with about $3 trillion needed over 30 Continue Reading
Libya’s Oil Production Exceeds 1.2 Million Bpd
Oil production in Libya has already exceeded 1.2 million barrels per day (bpd), a source in Libya’s oil industry told Reuters on Friday, while this faster-than-expected output resumption could give Continue Reading
Nigeria Goes on Offensive Against Youth Protesting Police Brutality
Nigeria’s leaders have made a show of responding to the demands of a massive youth-led uprising over police brutality that recently brought the country to a standstill and captured global Continue Reading
African Oil Producers Face Slump In Production
The five largest producers of crude oil in Africa face a combined production decline of 19 percent as a result of the pandemic’s effect on oil demand and the acceleration Continue Reading
Pirate Attacks On Oil Tankers Off West Africa Intensify
Several oil tankers were attacked or approached with attempted attacks in the Gulf of Guinea off West Africa over the past few days, maritime security companies warn. Over the past Continue Reading
Nigeria: Fuel Crisis Looms As Oil Workers Begin Strike
Oil worker. Nigeria may be heading towards another economic crisis with crude oil production threatened as the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has directed its Continue Reading
Libya’s Oil Output Hits 1 Million Bpd
Libya’s crude oil production topped 1 million bpd, the National Oil Corporation said this weekend, although it added this level of production may not be sustainable. “It is worth mentioning Continue Reading
Libya’s recovery leads OPEC+ October crude output higher: Platts survey
OPEC+ crude oil output ticked up 210,000 b/d in October, the latest S&P Global Platts survey found, as the alliance readies to set production levels for 2021 in what may Continue Reading
Libya’s oil production recovers past 1M barrel a day
Libya’s oil production has surged past 1 million barrels a day, national petroleum officials said on Saturday, marking an important milestone months after its civil war almost choked the country’s Continue Reading
Nigeria: Oil Firms to Lose Licences Over Neglect of Host Communities
The new Petroleum Industry Bill (PIB) before the National Assembly is proposing the revocation of licenses for oil and gas companies who neglect their obligations to the host communities. The Continue Reading
Nigeria to get output boost from start-up of Anyala-Madu fields
Oil production from Nigeria’s Anyala West field, located in the shallow offshore blocks of OML 83 and 85, has commenced, indigenous producer FIRST E&P and state-owned Nigerian National Petroleum Corporation Continue Reading
Libya Oil Output Hits 800,000 Bpd
Libya’s crude oil production has reached 800,000 bpd, Reuters has reported, citing sources in the know. This is a 100,000-bpd increase in just a few days, the report added. Libya Continue Reading
Oil Crisis And Recession Bring Two African Rivals Closer Together
Times of recession usually bring up overused terms like belt-tightening or company restructuring though distressed periods are just as useful for settling old scores and shaping up new partnerships. Testifying Continue Reading
New Generation of Desert Locusts Breeding in Horn of Africa
Desert locusts are breeding afresh in Ethiopia and Somalia and new swarms will form by mid-December and are likely to move southwards toward Kenya. “Although countries are better prepared compared to Continue Reading
Libyan oil onrush could maim Atlantic Basin sweet crudes
The Atlantic Basin could see a major showdown between the region’s key sweet crude producers as around 1 million b/d of Libyan crude is set to return to a brittle Continue Reading
Why Libya’s Surge In Oil Exports Won’t Last
The Libyan ceasefire agreement, which is being painted as a permanent one, could soon face increased opposition if third party interference is not dealt with. The UN-brokered (UNSMIL) agreement has Continue Reading
Total makes second ‘significant’ gas condensate find off South Africa
Total and its partners have made a “significant” gas condensate discovery near the major Brulpadda find off South Africa’s Western Cape raising the prospects of a new gas push in Continue Reading
Oil Prices Fall As Libya Looks To Bring Back 1 Million Bpd
Libya’s crude oil production could reach 800,000 bpd over the next two weeks and top 1 million barrels daily within a month now that the National Oil Corporation has lifted Continue Reading
Libyan oil output set for fast rebound as all key fields start to reopen
All of Libya’s key oil fields and terminals are gearing up for a full reboot, with almost 500,000 b/d more of Libyan light sweet crude set to hit the market Continue Reading
Libyan oil output set for fast rebound as all key fields start to reopen
All of Libya’s key oil fields and terminals are gearing up for a full reboot, with almost 500,000 b/d more of Libyan light sweet crude set to hit the market Continue Reading
Libya lifts force majeure on El Feel oil field on way to 1 mil b/d output
Libya’s state-owned National Oil Corp. said Oct. 26 it lifted force majeure on the 70,000 b/d El Feel, or Elephant, oil field as the OPEC producer seeks to almost double Continue Reading
Nigerian police mobilize to quell worst unrest in two decades
Nigeria’s police chief ordered the immediate mobilization of all force resources on Saturday to try to control the worst street violence in Africa’s most populous country in two decades stemming Continue Reading
Libya rivals sign ceasefire deal in Geneva
The country has been riven by violence since 2011 Libya’s warring factions have signed an agreement on a permanent ceasefire, after five days of talks in Geneva. The deal between Continue Reading
Oil Blockades Cost Libya $130 Billion, Finance Minister Says
The frequent oil blockades in Libya over the past few years have cost the country a total of US$130 billion in lost revenues, Finance Minister Faraj Boumtari told Al-Jazeera on Continue Reading
Optimism grows on Libya’s oil recovery as rivals agree ceasefire
Libya’s crude oil production could accelerate beyond 700,000 b/d by the end of the year after the United Nations confirmed that the country’s two rivals groups signed a permanent truce, Continue Reading
Young Nigerians Came to Protest Police Brutality. Then the Shooting Started.
The first sign that something was wrong at Lekki Toll Gate came when the lights went out. David Emmanuel, Feyishara Temitope and hundreds of other Nigerian protesters had gathered on Continue Reading
Nigerian Protests Haven’t Disrupted Oil Industry Yet
Nigeria’s oil production and exports have not been disrupted by the escalating protests against police brutality in the biggest oil producer and exporter in Africa, according to shipping data and Continue Reading
Nigerian Sars protests on brink of hitting oil output, demand
Nigeria is bracing for fresh disruption to its oil production and demand after violence sparked by weeks of nationwide protests against police brutality began spreading into the country’s key oil Continue Reading
Nigerian military offered Wednesday to deploy in Lagos if needed: governor
The Nigerian military offered on Wednesday to deploy in Lagos state if needed amid protests, the governor said on Thursday. Unrest has broken out across the state, which is under Continue Reading
Nigerian protesters say security forces fired on them, fueling global outrage
Global outrage mounted Wednesday after security forces in Africa’s largest city opened fire into a crowd of protesters, deepening unrest spurred by anger at Nigerian police. Ten people died and Continue Reading
Nigeria’s Lagos under 24-hour lockdown after protesters fired on
Lagos was under lockdown on Wednesday as a heavy police presence enforced a round-the-clock curfew, hours after soldiers opened fire on protesters in Nigeria’s biggest city, witnesses said. Slideshow ( Continue Reading
Lagos imposes indefinite curfew to curb Nigeria protests, police deploy anti-riot squad
Authorities on Tuesday imposed a round-the-clock curfew on the Nigerian state of Lagos – including Africa’s biggest city – in response to protests against alleged police brutality which they said Continue Reading
Natural Gas Is Booming In Africa
In 2018, while much of the world was leaving coal-fired power in the past and moving toward greener pastures (so to speak) coal was barreling full steam ahead in the Continue Reading
Nigeria’s Army Says It Is Prepared to Step In to Quell Protests
A demonstration in Lagos, Nigeria, on Thursday continued more than a week of protests against police brutality. Nigeria’s army signaled it was prepared to intervene in a standoff between a Continue Reading
Africa’s largest dam powers dreams of prosperity in Ethiopia — and fears of hunger in Egypt
A colossal dam is near completion on Ethiopia’s stretch of the Nile, a project so large that it promises to set the country on a path to industrialization that could Continue Reading
Nigerian State Oil Firm Says It Slashed Losses In Rare Financial Release
The Nigerian National Petroleum Corporation (NNPC) said in a very rare financials release on Thursday—the second in over four decades—that its losses shrank by 99.7 percent in 2019, while “the Continue Reading
Infographic: Libya’s fragile oil return complicates market outlook
Light sweet Libyan crude is starting to trickle through after an eight-month hiatus as rival groups agreed a tentative truce. The prospect of over 1 million b/d hitting the market Continue Reading
Nigeria sets new target to raise oil reserves to 40 billion barrels
Nigeria’s oil industry regulator, the Department of Petroleum Resources, said Oct. 13 that the country is now aiming to increase its oil reserves, including condensates, substantially to 40 billion barrels Continue Reading
Libya Restarts Oil Production At Its Largest Oilfield
Libya has restarted production at its largest field, Sharara, as peace talks began between eastern and western forces. The national Oil Corporation announced it had lifted the force majeure on Continue Reading
Will Libya’s Fragile Oil Truce Fall Apart This Week?
The prospect of the return of the 1.2 million barrels per day (bpd) of crude oil that Libya was producing before the broad-based blockade of its energy infrastructure caused it Continue Reading
Libya Gets Ready to Pump More Oil as It Reopens Biggest Field
Libya took a major step toward reviving its battered oil industry by reopening its biggest field, presenting a new headache for OPEC+ as the alliance of major producers tries to Continue Reading