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
President Muhammadu Buhari A spokesperson says the president decided the position of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is to be supported, and the earlier confusion was because “various Continue Reading
Nigerian President Muhammadu Buhari has granted consent to the acquisition of Exxon Mobil’s Nigerian unit by Seplat Energy (SEPLAT.LG) , in a $1.28 billion deal announced in February. Buhari, who Continue Reading
The Minister of State for Petroleum Resources, Dr Timipre Sylva, has said that the country loses 400,000 barrels of crude daily via oil theft. Sylva said this on Monday when Continue Reading
*Deficit exceeds 700,000bpd despite assurances of increased drilling The expectation that Nigeria’s current dollar crunch could subside soon has again been dashed as the country’s crude oil production remained below Continue Reading
Highlights July production falls 89,256 b/d to 1.31 million b/d Bonny Light hits lowest level in decades, force majeure still in effect Political risks could deteriorate ahead of 2023 elections Continue Reading
Nigeria said it owes 20 trillion naira ($47 billion) to its central bank and the obligations are yet to be added to the African nation’s outstanding public debt, according to Continue Reading
Libya’s oil production is bouncing back from the latest oil blockade that was triggered in the aftermath of failed elections. Libya’s oil production reached 1.2 million barrels per day after Continue Reading
“I want to give my family the best I can afford. We cannot just stay and survive. We really want to live,” Tam G (not his real name) said. “This Continue Reading
Libya’s crude production has returned to 1.2 million b/d after the lifting of force majeure on oil fields and exports on July 15, state-owned National Oil Corp. said July 31, Continue Reading
A new report showed that Nigerian oil revenue underperformed due to significant shortfalls such as shut-ins resulting from pipeline vandalism and crude oil theft. The Trans-Niger Pipeline, a major pipeline Continue Reading
Libya ramps up production to 1.1 million bpd following the resumption of exports. NOC looks to reach ‘normal’ rates of 1.2 million bpd within the next two weeks. The recent Continue Reading
The controversial East African Crude Oil Pipeline being built in Uganda and Tanzania is facing harsh criticism from environmentalists. East African governments are hopeful about how the project could help Continue Reading
Libya boosted oil production to more than 1 million barrels a day, a milestone for the North African country where output had more than halved since mid-April. The OPEC member, Continue Reading
The government presents two scenarios, one involving the continuation of subsidy payment and another assuming partial payment until subsidy is phased out in 2023. Retaining petrol subsidy will cost Nigeria Continue Reading
Libya’s crude oil production has reached 860,000 b/d with a target of 1.2 million b/d in two weeks, National Oil Corp. said on Twitter and Facebook on July 23. Under Continue Reading
Clashes broke out in the Libyan capital, Tripoli, overnight, between militia forces just days after a deal that saw the country relaunch oil production and exports after a months-long force Continue Reading
French oil and energy company TotalEnergies (TTEF.PA) has begun production from the Ikike field in Nigeria, which is expected to deliver peak production of 50,000 barrels of oil equivalent per Continue Reading
The European Union is seeking additional gas supplies from Nigeria as the bloc prepares for potential Russian supply cuts, Matthew Baldwin, deputy director general of the European Commission’s energy department, Continue Reading
Nigeria’s debt has exceeded its revenue in the first four months of the year despite high oil prices, Nigeria’s Budget Office has revealed on its website . Oil-rich Nigeria, unlike Continue Reading
The government presents two scenarios, one involving the continuation of subsidy payment and another assuming partial payment until subsidy is phased out in 2023. Retaining petrol subsidy will cost Nigeria Continue Reading
Nigeria could spend up to 6.72 trillion naira ($16.2 billion) next year if it keeps a fuel subsidy in place, Finance Minister Zainab Ahmed said on Thursday, a nearly 70% Continue Reading
Libya’s oil and gas minister in the UN-backed Government of National Unity expects oil production to return to “normal” levels of 1.2 million b/d in a week to 10 days Continue Reading
Nigeria’s president, Muhammadu Buhari, has unveiled a revamped national oil company that he called commercially driven and not relying on government funding. Buhari says the Nigerian National Petroleum Company would Continue Reading
Libya’s El Feel oilfield resumed production on Tuesday, according to Libya’s National Oil Corporation, after being shut in for nearly three months. The initial capacity for El Feel is 40,000 Continue Reading
Ousting of NOC chairman Sanalla may not lead to more stability in Libyan oil exports. Libya produced around 650,000 bpd of crude in June. Ongoing disagreement about a fair distribution Continue Reading
TotalEnergies SE , Eni SpA and Occidental Petroleum Corp. struck an agreement with Algeria to develop the Berkine basin, reflecting growing interest in the nation’s energy resources as importers pull Continue Reading
Militias mobilized overnight in the Libyan capital, Tripoli, as tensions rise amid the take-over of the National Oil Company (NOC) and the alleged lifting of force majeure at all oilfield Continue Reading
Libya’s National Oil Corp. expects five tankers to load crude from oil terminals over July 19-July 21, after the new management of the state-owned company lifted force majeure following a Continue Reading
Libya, which replaced the board of state-owned National Oil Corp., is loading its first cargo of condensate since the lifting of force majeure from all ports and fields, though the Continue Reading
Two Libyan tribal figures involved in a blockade of oil exports that has reduced output by 850,000 barrels per day said they expect the government-installed National Oil Corporation chief to Continue Reading
The Director General, Budget Office of the Federation, Ben Akabueze, yesterday stated that Joint Ventures (JVs) are bleeding the most as a result of rising crude oil theft and rampant Continue Reading
The new head of Libya’s National Oil Corp. has vowed to end a blockade, double crude production to 1.2 million barrels a day and protect existing contracts with foreign oil Continue Reading
Highlights Libyan oil production languishing at two-year lows due to oil blockade Bengdara appointment could further politicize Libyan oil Libya’s oil sector could see more political turmoil after the Government Continue Reading
