Zimbabwe’s Rio Energy Ltd., a unit of RioZim Ltd., will build a 2,100 megawatt thermal power plant with China Gezhouba Group Corp in northern Zimbabwe at a projected cost of $3 billion, Rio Energy Continue Reading
The crash in oil prices and the economic fallout from the coronavirus together pose what could be an existential threat for Africa’s largest economy and biggest crude producer. Nigeria, a Continue Reading
Africa’s largest oil producer, OPEC member Nigeria, has yet to figure out how and from where to cut production as part of the OPEC+ deal, and this has led to Continue Reading
A police vehicle escorts trucks loaded with crude oil from Ngamia 8 oil fields in Turkana County (file photo). Tullow Oil’s exit from East Africa is gathering steam after the Continue Reading
Nigeria’s independent oil producers are being crushed by the oil price crash, with current prices more than two times lower than the costs of local independents’ production. These small independent Continue Reading
As COVID-19 continues to spread worldwide, the pandemic is having an unprecedented impact on the global economy and commodity markets, including cobalt. With countries imposing prevention and control measures against Continue Reading
United Arab Emirates-based companies shipped nearly 11,000 tonnes of jet fuel to eastern Libya, the stronghold of the renegade general Khalifa Haftar, in a suspected violation of an international arms Continue Reading
Global energy data, financial information and analytics company, S&P Global Platts, disclosed that more than 50 million barrels of Nigerian crude oil for late April and May 2020 loading are Continue Reading
The sheer weakness of the physical oil market can be best explained by the state of the Nigerian crude market. The once coveted light sweet Nigerian barrel is facing one Continue Reading
Some refineries in Africa are halting production or considering reducing throughput due to reduced demand on the coronavirus pandemic and soaring inventories. Chad’s Ndjamena refinery in Djarmaya temporarily suspended processing Continue Reading
The company is reducing spending this year to about half of 2019 levels, joining a parade of shale drillers doing the same. (Bloomberg) — Marathon Oil Corp. is reducing its Continue Reading
An oil export terminal blockade that led to the shut down of fields and refineries has so far cost Libya close to $4 billion, the National Oil Corporation said in Continue Reading
The authorities running eastern Libya on Tuesday confirmed a first case of the coronavirus despite efforts to close borders and impose a curfew to limit social interactions. Libya has confirmed Continue Reading
Egypt’s total of 1173 recorded Covid-19 cases and 78 deaths, as of April 5, places Africa’s third-most populous country significantly below the global per capita averages for both counts as Continue Reading
As countries of the world continue to battle the spread of coronavirus , oil prices crashed below $20 amid a supply glut on Monday. Brent crude fell to $22.58 per Continue Reading
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
