East Africa: Kenyan, Tanzanian Presidents Sign Pipeline Deal
Kenya and Tanzania have signed a deal for a gas pipeline that will run between the coastal cities of Mombasa and Dar es Salaam. The signing took place Tuesday, as Continue Reading
Ghana set to receive first LNG cargo at end of May
Sub-Saharan Africa’s first LNG terminal operationally ready Shell to supply LNG under long-term contract with GNPC Africa expected to develop more LNG import infrastructure Ghana is now expected to receive Continue Reading
‘There are no vaccines’: Covid fears rise in Africa as inoculations stall
While India battles a catastrophic second wave of Covid-19 infections, health officials in Africa are watching with alarm as their immunization campaigns, heavily dependent on vaccine imports from the subcontinent, Continue Reading
Nigeria: NNPC Sells N267 Billion Crude Oil, Maintains 1.42 Million BPD Output
The Nigerian National Petroleum Corporation (NNPC) sold crude oil worth N267.59 billion in February, while its total daily production stood at 1.42 million barrels per day in the first quarter Continue Reading
Africa’s Most Interesting Untapped Oil Play
When writing the article on this year’s Top Oil Wildcats , one of the hottest candidates had to be dropped out of the list. Not because the prospect turned out Continue Reading
Nigeria’s NNPC Says Subsidy Won’t Stop Government Obligations
Nigeria’s state-owned energy company assured it will continue to meet its financial obligations to the government despite indicating the cost of gasoline subsidies may make it impossible to contribute to Continue Reading
Libyan oil minister seeks budget approval to hit 1.5 mln bpd target
Libya’s oil production target of 1.5 million barrels per day (bpd) by the end of 2021 depends on parliament approving the national budget quickly, Oil Minister Mohamed Oun told Reuters Continue Reading
Nigeria: Shell Pipelines Spill 4,309 Barrels of Crude in H2’20
Shell Petroleum Development Company of Nigeria Limited (SPDC) reported that a total of 4,309.18 barrels of crude was spilled into the Niger Delta environment from its operations in the second Continue Reading
Why Nigerian Oil Prices Are Falling
Although it is a very rare occurrence to see Nigerian grades trade at levels stipulated by the Nigerian National Petroleum Company (NNPC) every month, the issuance of its official selling Continue Reading
Uganda Set To Launch Tenders On Massive Oil Project In December
The Petroleum Authority of Uganda will launch in December the first key tenders for the long-awaited oil resources development project in the East African country, which cleared a major hurdle Continue Reading
Egypt Restarts Major LNG Project On Rising Demand
In the late 90s of the previous century and early years of this century, Egypt in collaboration with international partners started the development of its LNG sector. This resulted in Continue Reading
“Nation is on fire”: Nigerian lawmakers demand action on security crisis
Nigeria’s parliament called on the presidency, armed forces and police to address the country’s mounting security crisis on Tuesday, with the lower house urging President Muhammadu Buhari to declare a Continue Reading
Libya’s Oil Production Set To Recover As Force Majeure Is Lifted
After falling below 1 million barrels per day (bpd) last week, Libya’s oil production could be set for recovery above that mark again, as the National Oil Corporation (NOC) said Continue Reading
Libya crude output to rebound as force majeure lifted on Marsa el-Hariga exports
Libya’s crude output could rebound in the coming days after the state-owned National Oil Corporation lifted force majeure on exports out of the eastern Marsa el-Hariga terminal on April 26. Continue Reading
Libyan Oil Production Surprise Puts Pressure On Prices
Given the ongoing imbalance between global oil supply and demand in the wake of the major waves of Covid-19 that hit the world last year, news that Libya is now Continue Reading
Total Forced To Halt $20B Mozambique LNG Project After Militant Attacks
France’s supermajor Total declared force majeure on Monday on its US$20-billion liquefied natural gas (LNG) project in Mozambique following recent Islamist militant attacks in towns close to the site. The Continue Reading
Energy Transition Could Doom Africa’s Oil Producers
When it comes to the final frontier for big oil discoveries, it’s not the Guyana-Suriname basin where supergiants like ExxonMobil (NYSE:XOM), Hess Corp . (NYSE:HES), and CNOOC (NYSE:CNOOC) have already Continue Reading
Nigeria: Again, Pipeline Explosion Rocks Lagos
Another pipeline explosion on Sunday evening erupted in Isheri-Idimu community, Egbe-Idimu Local Council Development Area (LCDA) in Lagos State. It was gathered that the inferno broke out after fire gutted Continue Reading
France’s Total declares force majeure on Mozambique LNG project
France’s Total has declared force majeure on its Mozambique LNG project and removed all staff from the site on the Afungi Peninsula, it said April 26. Total had already suspended Continue Reading
Nigeria’s Buhari Restores Oil Permits Revoked from China’s Addax
Nigerian President Muhammadu Buhari reversed a government decision to revoke four oil permits from a unit of China’s Sinopec. Buhari “approved the restoration” of the licenses to Addax Petroleum Corp. as Continue Reading
OPEC Fund Helps Finance Egypt’s Largest Private Solar Plant
OPEC’s Fund for International Development is among a group of development banks providing $114 million of loans to build the largest privately-owned solar plant in Egypt. ACWA Power’s 200-megawatt Kom Ombo Continue Reading
Africa’s Largest Oil Producer Loses $29B Per Year On Power Outages
Businesses in Nigeria are losing each year around US$29 billion because of the unreliable power supply, the World Bank said in an estimate about the OPEC country, which is the Continue Reading
East Africa: ‘My House Is Crumbling’ – Living in Limbo Along the East Africa Pipeline
People along the route of the proposed 1,443 km oil pipeline talk of confusion, uncertainty and lives on hold. Following the recent signing of accords, the construction of a hugely Continue Reading
Another Libyan Oil Firm Cuts Output as Funding Row Worsens
One of Libya’s state oil producers said it would have to cut as much as 100,000 barrels a day of output this week, a further sign that a budgetary crisis Continue Reading
Chad President Idriss Déby Death Threatens Headache for Glencore
The sudden death of Chadian President Idriss Déby in a desert battlefield is threatening more headaches for its biggest private creditor: commodities trader Glencore Plc. Trading firms like Glencore have over the Continue Reading
Angola May Privatize State-Owned Oil Firm To Boost Production
OPEC member Angola was Africa’s top oil producer six years ago when oil prices crashed in 2015-2016, slashing oil-producing countries’ revenues and forcing international oil companies to reconsider their exorbitant Continue Reading
Can Mozambique Defend Its Crucial Gas Assets?
Mozambique has been rightly considered one of the most promising new frontiers of gas production in the world, the Rovuma Basin that is located along the border of Tanzania and Continue Reading
Nigeria Naira (NGN USD): Citizens Hoard Foreign Currencies to Protect Wealth
Nigerians have been accumulating foreign currencies to protect their wealth from naira volatility and surging inflation, according to a research paper in a journal published by the Central Bank of Continue Reading
Libya’s Oil Production Falls Below 1 Million Bpd On Export Terminal Outage
Libya’s National Oil Corporation has declared force majeure on the port of Hariga due to lack of funds for infrastructure repairs, pushing the country’s crude oil production below 1 million Continue Reading
Libya’s NOC banking on Total’s support to help boost oil output
Libya’s National Oil Corporation is banking on France’s Total to help it boost output and assist with the maintenance of some of its oil infrastructure, it said April 20. Not Continue Reading
Volatility in store for Chad’s oil industry after president’s death
The death of Chad’s President Idriss Déby is likely to trigger political instability in the key oil-producing country and the wider central African region, with a potential impact on its Continue Reading
Libya’s Agoco halts crude production in budget standoff with government
Production in several of Libya’s major eastern oil fields has been shut down, heightening the central government’s budget crisis. Receive daily email alerts, subscriber notes & personalize your experience. Register Continue Reading
Libya’s NOC declares force majeure on Marsa el-Hariga exports amid budget crisis
Libya’s National Oil Corporation has declared force majeure on crude exports out of Marsa el-Hariga terminal as production from its key eastern fields is set to fall due to a Continue Reading
Nigeria: Scores Killed, Over 50 Houses Razed in Petrol Tanker Explosion in Benue
Scores were feared killed and no fewer than 50 houses razed, after a tanker conveying petroleum products exploded at Oshigbudu in Agatu Local Government Area of Benue State. The tanker Continue Reading
Nigeria Set To Start-up 100 Oil & Gas Projects By 2025
As many as 100 oil and gas projects are set to start in Nigeria by 2025, accounting for 23 percent of all projects starts in the industry in Africa within Continue Reading
Nigeria: The Much-Awaited Dangote Oil Refinery
Few years ago, any economic pundit that thought of the possibility of a privately-owned petroleum refinery that would have the capacity to meet the needs of Nigeria’s downstream sector, and Continue Reading
The Story Behind The World’s Longest Electrically Heated Oil Pipeline
Uganda has signed a landmark deal with Tanzania for the construction of the world’s longest electrically heated crude oil pipeline, working in partnership with French oil supermajor Total. The 1440km Continue Reading
Tanzania: Ugandans Criticize Oil Pipeline Deal With Tanzania and Total
President Samia Suluhu Hassan of Tanzania and President Yoweri Museveni of Uganda. Ugandans are making disparaging comments on social media about the multibillion-dollar oil pipeline deal that the country has Continue Reading
Egypt Seizes Suez Ship ‘Ever Given’ Pending $900 Million Compensation
Egypt seized the giant container vessel that blocked the Suez Canal last month as part of an effort to get more than $900 million in compensation. The court in the Continue Reading
Suez canal blockage caused sulphur pollution spike
Satellite image ©2021 Maxar Technologies image captionThe Ever Given created a six-day jam in the canal The log jam in the Suez canal last month produced a spike in ship Continue Reading
Libya self-reports March crude output of 1.28 million b/d to OPEC
Libya pumped 1.283 million b/d of crude in March, the North African producer revealed to OPEC in the producer group’s latest monthly oil market report. Crude production in March rose Continue Reading
Egypt in Talks on Suez Canal Ship Ever Given’s Rescue Compensation
Egypt is still in talks about compensation stemming from the operations to free the giant container ship whose stranding in the Suez Canal for nearly a week roiled global cargo Continue Reading
Libyan pay dispute returns, could lead to some oil port closures
The dispute over so-called field allowances paid to Libya’s Petroleum Facilities Guard has returned, with the potential to lead to some oil terminal closures later this month, industry sources said Continue Reading
Nigeria Spends Billions On Pipeline Maintenance As Hundreds Are Vandalised Annually
Oil and gas is the lifeblood of Nigeria’s economy. A total of 1,161 pipeline points were vandalised across Nigeria in the 21 months between January 2019 and September 2020. Nigeria Continue Reading
GE, PowerChina Hydro Project on Zambia-Zimbabwe Border Delayed
The developers of a $4 billion hydropower plant on the Zambia-Zimbabwe border delayed the project until next year because of the coronavirus pandemic. Pre-construction work on the Batoka Gorge project Continue Reading
Nigeria: Production Sharing Contract – Government, Oil Majors Pass the Buck Over Nigeria’s U.S.$62 Billion Cut
There is a cloud of uncertainty surrounding $62 billion outstanding taxes and royalties owed Nigeria by operating major oil companies in the country. The federal government had in 2019 taken Continue Reading
Maersk warns real work to clear Suez backlog has only just begun
Maersk has warned that customers should not expect a quick return to normal services after the Suez Canal blockage, which the world’s largest shipping company predicts will keep disrupting global Continue Reading
Total Signs Agreements with Uganda on East Africa Oil Project
A Total petrol station in Kampala Uganda. Total SE signed agreements along with Ugandan officials for an oil development set to transform the East African nation into a significant crude Continue Reading
Eni’s Latest Oil Discovery Could Be Big For Angola
Italian firm Eni has made a new light oil discovery off the coast of Angola after exploration activities recommenced following a year of pandemic restrictions. The discovery, made on Tuesday, Continue Reading
East Africa: New Dawn As Govt, Oil Firms Seal Deal to Kick Off Production
Ugandan President Yoweri Kaguta Museveni, right, gestures during a meeting with Tanzanian President Samia Suluhu Hassan that preceded the signing of the East African Crude Oil Pipeline (EACOP) Tripartite Project Continue Reading