Airstrikes have once again disrupted production of Libya’s El Feel oilfield on Wednesday, after the eastern-based Libyan National Army, led by Khalifa Haftar, retaliated after forces loyal to the UN-backed Continue Reading
Starting last April President Trump caught many in his own administration off guard when he unexpectedly thanked renegade General Khalifa Haftar for “securing Libya’s oil resources” at a moment the Continue Reading
Eight suspected Islamic State members were captured in this scarred city in recent weeks, Libyan commanders say. Militant sleeper cells, they say, lurk in some neighborhoods. Other militants have set Continue Reading
Libya’s main oil chief has set his sights on boosting oil production to 1.50 million b/d in 2020 from current levels of 1.25 million b/d, as the country’s oil production Continue Reading
Oil supermajor Royal Dutch Shell has appointed investment bank Citi to run the $1 billion (£781.5m) sale of its oil and gas assets in Egypt’s Western Desert. Sources told Reuters Continue Reading
The Nigeria Customs Services (NCS) has ramped up efforts to curtail smuggling with a directive to the Nigerian National Petroleum Corporation (NNPC), Petroleum Products Pricing Regulatory Agency (PPPRA) and all Continue Reading
African countries need to invest four times more in electricity than they are investing now in order to expand reliable supply to the whole continent, the International Energy Agency has Continue Reading
Somalia is preparing for the launch of its first-ever crude oil licensing round, with details about it to be announced in December, the country’s oil minister told media. “We are Continue Reading
The casualties at the Aziziya field hospital south of Tripoli used to arrive with gaping wounds and shattered limbs, victims of the haphazard artillery fire that has defined battles among Continue Reading
At first, the fighters inside the empty school building, about 20 burly, heavily armed Russian mercenaries in dark fatigues, seemed trapped, recalled some of the Libyan militiamen who were there. Continue Reading
Major oil and gas discoveries and subsequent investments in infrastructure projects are set to help the oil and gas industry in Africa to grow, also helped by improved governance and Continue Reading
Senegal, a West African country which has seen several major oil and gas discoveries in recent years, is launching a new licensing round to award three offshore blocks as it Continue Reading
African governments risk long-term debt dependency and threats to their sovereignty if they accept funding from “opaque forces” to develop their oil and gas resources, a senior US energy official Continue Reading
The casualties at the Aziziya field hospital south of Tripoli used to arrive with gaping wounds and shattered limbs, victims of the haphazard artillery fire that has defined battles among Continue Reading
The Middle East is oil. In fact, it’s a staggering 800+ billion barrels of oil, or nearly half of the world’s reserves. But there’s nothing left to discover. Forget the Continue Reading
President Muhammadu Buhari on Monday in London signed the amended Deep Offshore Act. The president in his statement that was made available by his Senior Special Assistant on Media and Continue Reading
Nigeria’s Dangote refinery — set to be Africa’s biggest at 650,000 b/d plant — was expected to be ready to process crude by early 2021, officials said Monday. Receive daily Continue Reading
Authorities in Algiers shut its metro and all trains to the capital in an effort to keep protesters away, but many arrived by coach Tens of thousands of demonstrators have Continue Reading
Nigeria expects to retain international auction houses to have US$40 million worth of jewelry, which was seized from a former oil minister accused of corruption, sold. The Economic and Financial Continue Reading
Nigeria must do all within its powers to reduce the cost of crude oil production to help boost revenue generation for economic growth and national development, the Minister of State Continue Reading
Egyptian oil companies that had operations in Libya but pulled out during the civil war will return to the country, the National Oil Corporation said . NOC’s chairman Mustafa Sanalla Continue Reading
The recent decision by the Federal Government through the Office of the Attorney General of the Federation and Minister of Justice, Abubakar Malami, to demand from the international joint venture Continue Reading
The unstable security situation in Libya and the continued bickering between rival governments have kept international oil companies from resuming exploration activities in the civil war-torn North African oil producer. Continue Reading
Russia is looking to strengthen ties with Africa’s largest oil producer with a focus on reforming Nigeria’s downstream and gas sector, the Russian energy ministry said late Wednesday. Russia’s energy minister Continue Reading
Nigeria’s crude oil production, including condensates and natural gas liquids, stood at 1.93mbpd or 59.83 million barrels in August 2019, according to the latest monthly economic report of the Central Continue Reading
Nigeria’s President Muhammadu Buhari and Russia’s President Vladimir Putin during the official welcoming ceremony by Russian President Vladimir Putin for the heads of state and government of states participating in Continue Reading
Russia’s second-largest oil producer, Lukoil, is looking at joint oil and gas opportunities with Saudi Aramco in Africa, the Russian firm’s president and CEO Vagit Alekperov said on Wednesday. Lukoil Continue Reading
Oil theft A report by the Nigeria Natural Resource Charter (NNRC) has revealed that the highest ever reported crude oil theft in the world has taken place in Nigeria, with Continue Reading
The highest ever reported crude oil theft in the world has taken place in Nigeria with the country recording approximately 400,000 barrels per day (bpd) crude theft, a report showed. Continue Reading
Russia is looking to increase energy cooperation with African countries as it strives to play a more influential role in global energy markets. President Vladimir Putin will host the Russia-Africa Summit Continue Reading
Khalifa Haftar in Libya Turkey’s intervention in support of the Government of National Accord (GNA) has helped push Khalifa Haftar’s Libyan National Army (LNA) beyond Gharyan. Further reports point to Continue Reading
Nigeria risks disruption in oil and gas supplies and power generation, due to declining exploration activity and depleting oil reserves, the Nigerian Association of Petroleum Explorationists (NAPE) has warned . Continue Reading
Minister of State for Petroleum Resources, Mr. Timipre Sylva, said yesterday that it was impossible for the Federal Government to recover a total $62 billon from International Oil Companies, IOCs, Continue Reading
The Nigerian National Petroleum Corporation (NNPC) has said that the rate at which pipelines of major oil companies are sabotaged in Nigeria has continued to increase, stating that it rose Continue Reading
A fire has broken out on an oil lease in the southeastern state of Imo in Nigeria, during what preliminary investigation believes to be illegal bunkering activity by thieves, Nigerian Continue Reading
If someone had reported that Angola was preparing its state oil company for privatization three years ago, many would have laughed refused to believe it. In 2016, Sonangol was in Continue Reading
The Nigerian government, through its attorney-General, Abubakar Malami, says it is determined to recover over $62 billion from multi-national oil companies for ‘under-payment’ to the country since 1998. Under the Continue Reading
Nigeria may face an easier task to finally fall in line with its share of the OPEC+ production cuts after OPEC has recently raised the African producer’s oil output ceiling. Continue Reading
The Libyan government has released state funding to the tune of $1.06 billion to the National Oil Corporation that NOC will use to maintain oil production in the current year, Continue Reading
Exxon could announce the final investment decision for the Rovuma LNG project in Mozambique tomorrow, according to the African country’s government. Exxon has denied the report, the Globe and Mail Continue Reading
Nigeria is ready to make the sacrifice and cut its oil production deeper if OPEC and allies decide in December that it is necessary to deepen the cuts, Nigerian Minister Continue Reading
Libya’s National Oil Corporation has warned that the country’s crude oil production could drop sharply over the next nine months if the government in Tripoli does not release funds already Continue Reading
Royal Dutch Shell and Eni are in the clear as far as the US Department of Justice is concerned, after the DOJ on Wednesday notified the two separately that it Continue Reading
Libya NOC representatives traveled to China today to discuss China’s interest in helping to restore Libya’s oil industry that has suffered through years of civil unrest, according to the Libya Continue Reading
While the Persian Gulf crisis continues to escalate, oil markets have put Libya’s ongoing civil war on the backburner. This weekend, the shutdown of OPEC producer Libya’s giant Sharara field Continue Reading
Libya has lifted its force majeure on Monday after it stopped loading crude oil for the weekend from the Zawiya terminal following the suspension of production from the country’s largest Continue Reading
Libya’s state oil company National Oil Corporation (NOC) declared force majeure late on Saturday at the country’s largest oilfield, El Sharara, after it was shut down the previous day due Continue Reading
Nigeria is currently losing $25 billion annually to illegal oil bunkering and insecurity on the nation’s waterways. This was disclosed by the immediate past minister of transportation, Rt. Hon Rotimi Continue Reading
Libya’s oil revenue took a beating in the first half of 2019 , according to its central bank as reported by Reuters. In the first six months of the year, Continue Reading
With a wobbling Gross Domestic Product of $1.8 trillion, countries in Sub-Saharan Africa are on the cusp of economic transformation, with the imminent coming on-stream of the $12 billion Dangote Continue Reading
