Mozambique’s gas ambitions rest on distant hope of peace
The future of Mozambique’s gas ambitions hinges on its ability to end a deadly insurgency linked to Islamic State, but if peace is the answer the southern African country and Continue Reading
Could This Be The Most Promising Oil Play Of The Decade?
No oil discovery narrative appears to have captured investor attention this year as much as Reconnaissance Africa’s ( TSXV:RECO , OTC:RECAF ) acquisition of the rights to Namibia’s giant, 6.3-million-acre Continue Reading
Third Covid Wave Upends Fragile South Africa, a Warning for Developing World
Sello Kgoale watched his neighbors shuttling back and forth with looted liquor, refrigerators and flat-screen televisions. There were no police at a nearby mall, they told him, so the 46-year-old Continue Reading
Nigeria: Breaking – House Steps Down PIB Report After Shouting Match
The House of Representatives at the plenary, Thursday stepped down the report of the conference committee on Petroleum Industry Bill (PIB), following a shouting match by Niger Delta lawmakers, who Continue Reading
Nigeria’s Oil Output Sheds 11.47 Percent in Q2’21 – OPEC
Apparently in a bid to comply with the output quota of the Organisation of Petroleum Exporting Countries, OPEC, Nigeria’s oil output dropped 11.47 per cent year-on-year, YoY, in the second Continue Reading
Nigeria May Finally Approve New Oil Bill After 2 Decades Of Work
Africa’s largest oil producer and exporter, Nigeria, is expected to pass its new petroleum bill—twenty years in the making—as early as Wednesday, despite last-minute amendments that have created some controversy. Continue Reading
South Africa: SA On the Verge of Fuel Shortages?
The announcement by SAPREF, South Africa’s largest fuel refinery, that it has suspended its operations due to force majeure, will undoubtedly impact the already critical fuel situation in South Africa, Continue Reading
Nigeria: Shell Abandons Struggle to Move Niger Delta Oil Spill Trial From the UK to Nigeria
Oil spill. Shell had claimed the case would be better decided in Nigeria. Now, its subsidiary SPDC will now be part of the lawsuits filed in England against Royal Dutch Continue Reading
Tullow Oil expects FY cashflow of $600 mln at $60/bbl oil price
Africa-focused Tullow Oil (TLW.L) expects a full-year operating cash flow of $600 million, steady from last year if the oil price averages $60 a barrel for the rest of the Continue Reading
Nigeria to Sell 36 Assets to Boost Revenue as Earnings Fall
The privatization agency in Africa’s largest economy plans to sell or allow private investors to manage 36 state-owned assets to boost government revenues that have come under pressure from lower Continue Reading
Nigeria Lost $2.77bn to Crude Oil Theft in 2019 – NEITI
Nigeria lost 42.25 million barrels of crude oil valued at 2.77 billion dollars to oil theft in 2019, the Nigeria Extractive Industries Transparency Initiative (NEITI) said in its latest audit Continue Reading
Top Energy Producer Excited by Nigeria’s New Petroleum Law
Seplat Energy Plc, Nigeria’s biggest oil and gas exploration and production company said it hopes passage of the country’s long-awaited Petroleum Industry Bill by lawmakers will spur investment into the Continue Reading
Nigeria: Hike in Price of Diesel Worsens Nigeria’s Economic Woes
Even as the organised labour and the federal government continue their engagement on what the appropriate price of petroleum motor spirit (PMS), otherwise known as petrol should be, oil marketers Continue Reading
The Small Exploration Company That Shocked The Oil Industry
A small Canadian oil explorer may have shocked the industry this year when it published initial results that pointed to the potential of a giant oil discovery in Namibia’s Kavango Continue Reading
S. African Excess Deaths at Six-Month High as Delta Spreads
Why No Country Is Safe From the Delta Variant Excess deaths, seen as a more precise way of measuring total fatalities from the coronavirus, rose to their highest level since Continue Reading
Nigeria: PIB – What You Need to Know About Proposed Law to Regulate Nigeria’s Oil Industry
PREMIUM TIMES highlights the history and components of the Petroleum Industry Bill that is again close to being passed by the National Assembly After a 20-year journey, the Petroleum Industry Continue Reading
Ever Given Container Ship That Blocked Suez Canal Is Set to Sail
The container ship that blocked the Suez Canal for days earlier this year is set to sail Wednesday after its owners reached a multimillion-dollar compensation deal with Egyptian authorities for Continue Reading
Nigeria: The Petroleum Industry Bill and the Quest for a New Nigeria
LAST week, Thursday July 1, the Senate finally passed the long-awaited Petroleum Industry Bill, PIB. A milestone in the history of our legislative affairs. Too many interests had repeatedly scuttled Continue Reading
Nigeria: Govt – 400,000 Barrels of Oil Lost Daily to Theft
About 400,000 barrels of crude oil is lost daily to theft, according to data from the federal government. The Minister of Environment, Mr. Mohammed Abubakar, at a town hall meeting Continue Reading
Nigeria Records 4,919 Oil Spills in 6 Years, 4.5trn Barrels Stolen in 4 Years – Minister
Oil theft The minister says the effects of the destruction of oil and gas facilities had caused huge economic losses. Mohammad Abubakar, Minister of Environment, on Monday, disclosed that Nigeria Continue Reading
U.N.-backed Libya talks fail to reach consensus on elections
U.N.-sponsored talks aimed at paving the way for elections in Libya in late December failed to find common ground, the deputy of the United Nations mission in Libya said on Continue Reading
Angola Debt To Oil Field Operators Swells To $1 Billion
Angola owes foreign oil field operators some $1 billion, Reuters has reported , citing unnamed sources, adding this level of debt had forced the country to put up stakes for Continue Reading
Virus infections surging in Africa’s vulnerable rural areas
For Pelagia Bvukura, who lives in a rural part of north-central Zimbabwe, COVID-19 had always been a “city disease,” affecting those in the capital, Harare, or other, distant big towns. Continue Reading
Nigeria Prepares To Reveal New Oil Bill 20 Years In The Making
Nigeria’s Senate is expected to see on Tuesday the presentation of the country’s petroleum industry bill, a new regulation on the oil industry that has taken 20 years to draft. Continue Reading
Nigeria: Why NNPC’s Borrowing to Acquire 20% Equity in Dangote Refinery
The Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mele Kyari, yesterday explained why the national oil company was purchasing a stake in Dangote oil refinery, saying it was Continue Reading
Could East Africa Become The Next Major Oil Hotspot?
The last 18 months have seen very few large-scale oil projects moving from a prospect status into an entire region’s next best thing. The Lake Albert project in Uganda is Continue Reading
Zimbabwe Faces Prolonged Power Outages After Surge Hits Plants
Lake Kariba dam between Zambia and Zimbabwe. Zimbabwe faces prolonged power outages after a surge in electricity imports from neighboring South Africa overloaded its network and caused generating plants to Continue Reading
Niger Delta militants threaten to resume attacks on Nigeria’s oil installations
President Buhari responds to threat, says regional issues will be addressed Nigeria producing at only 70% of full capacity due to OPEC+ cuts, technical issues Government under economic strain, militancy Continue Reading
Why Namibia Could Become The Biggest Oil Story of the Decade
What we think is shaping up to potentially be the last great onshore oil discovery in the world has just announced encouraging results in the first section of its second Continue Reading
Nigeria’s Buhari Concerned About New Threats to Bomb Oil Assets
Muhammadu Buhari Photographer: Drew Angerer/Getty Images Nigerian President Muhammadu Buhari expressed concern about new threats by militant group the Niger Delta Avengers to bomb critical oil and gas infrastructure in Continue Reading
Nigeria’s ‘Delta Avengers’ threaten oil installation attacks
A militant group in Nigeria’s oil-producing Delta region has threatened to resume attacks amid rising insecurity and disagreements over the share of oil wealth communities should get. The group, called Continue Reading
Hospitals in South Africa Hub Face Being Overrun by Covid Surge
Hospital capacity in South Africa’s industrial hub of Gauteng is at risk of being breached by surging Covid-19 cases within days. The densely populated province, which includes Johannesburg and Pretoria, Continue Reading
Nigerian Billionaire Dangote to Expand Into Oil, Gas in Cameroon
Aliko Dangote, Africa’s richest person, said he plans to diversify his group’s investments in Cameroon, starting with energy. “We have plans to expand our investment to other sectors beginning with Continue Reading
Africa’s third wave: ‘What haunts me a lot is the Indian scenario’
African countries from Uganda to South Africa are buckling under a ferocious third wave of coronavirus infections as the continent falls far behind the rest of the world in vaccinations. The Continue Reading
Nigeria’s Oil Industry Is Struggling To Win Back Investors
Long overdue government legislation must come into place in Nigeria if the country hopes to reform its oil industry to make it more accessible for international players and win back Continue Reading
Nigeria’s Biggest Power Firm Seeks $1.8 Billion to Expand Output
Nigeria’s Egbin Power Plc, the biggest in Africa’s most populous nation, plans to raise $1.8 billion to more than double generation capacity as it seeks to boost output and export Continue Reading
Large Methane Leak Detected Over South Africa Coal Mining Region
A cloud of methane was detected by satellite near coal mines in South Africa, drawing attention to a lesser-known environmental risk that comes from using the dirtiest fossil fuel. The Continue Reading
Nigeria: Cracking Nigeria’s Oil Subsidy Nut
Nigeria’s oil subsidy programme has unwittingly become a drag on the economy. When the price of the commodity rises on the international market, revenue rises, but this gain is more Continue Reading
Naira Weakens to Four-Year Low as Nigeria’s Dollar Push Fails
Nigeria’s currency weakened to a four-year low in the parallel market after the central bank’s efforts to coax banks to sell more dollars to customers failed to bridge the widening Continue Reading
Persistent operational issues hold up Nigerian oil production growth
Key fields: Qua Iboe, Forcados, Bonny, Bonga, Escravos faced outages Oil production averaging as low as 1.64 million b/d in 2021 Security concerns, regulatory risks further hamper supply outlook Nigeria’s Continue Reading
Sudanese Protest Lifting of Fuel Subsidies
Sudanese protesters burned tires in part of the capital, Khartoum, Wednesday night, after the government lifted all subsidies on gasoline and diesel. Finance Minister Jibril Ibrahim announced Tuesday that prices Continue Reading
Solving Nigeria’s Gasoline Crisis
The world of Nigerian refining is an enigma shrouded in a mystery. Although the story of Nigeria’s refining has been a friction point for some years already, it boggles the Continue Reading
Nigeria: NNPC Decries Rise in Smuggling of Petroleum Products
The Nigerian National Petroleum Corporation (NNPC) yesterday raised the alarm over the continuous rise in the smuggling of petroleum products, despite the establishment of the ‘Operation White’ initiative by the Continue Reading
Nigeria: With Declining Sector Investments, NNPC Predicts U.S.$200 Oil Price
The Nigerian National Petroleum Corporation (NNPC) yesterday predicted that oil price could climb as high as $200 per barrel, as banks and major International Oil Companies (IOCs) withdraw from funding Continue Reading
Libyan crude output under pressure due to pipeline leaks: NOC’s Sanalla
Libya’s production recovery is slowing as the country’s ageing oil infrastructure comes under pressure, with more falls likely in coming days due to series of pipeline leaks, the chairman of Continue Reading
Libya’s Oil Production Drops By 200,000 Bpd
Libya’s crude oil production has declined by more than 200,000 barrels per day (bpd) in recent days, or by almost 20 percent, on the back of pipeline leaks and maintenance Continue Reading
Libya oil leaks hitting output, NOC chief says
The head of Libya’s National Oil Corp (NOC) reiterated on Wednesday the need for funds for much needed repairs in the oil industry after corroded pipelines recently hit production. Mustafa Continue Reading
The Most Exciting Oil And Gas Play On The Planet? Interview with Bill Mooney
As Reconnaissance Energy Africa continues to excite investors and industry experts alike, we sat down with the man responsible for what could be the next major development in this story. Continue Reading
Africa’s Oil-Producing Nations Rally Against Threat to Fossil Fuels
Some African oil-producing nations yesterday opposed what they described as the global conspiracy to shut down the economies of the continent’s resource-dependent countries. They urged members to take urgent action Continue Reading
Libya’s Oil Sales Fell 36% In April As Production Declined
Libya generated total revenues from oil sales worth US$1.31 billion in April, the country’s National Oil Corporation (NOC) said on Tuesday in its regular update, which showed a 36-percent drop Continue Reading