The bulk of an estimated $90 billion that left Africa annually through illicit financial flow to overseas might have come from Nigeria. The Chairman of the Independent Corrupt Practices and Continue Reading
Yenagoa — Shell Petroleum Development Company of Nigeria Limited (SPDC) has said security remains a major challenge occasioned by continuing crude oil theft and vandalism of oil and gas facilities Continue Reading
Nigeria loses between $7 billion and $12 billion to crude oil theft annually, a study by the Nigeria Natural Resource Charter (NNRC) has found, prompting reactions from stakeholders on the Continue Reading
The new Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr. Mele Kyari, thursday disclosed that the petroleum price of N145 per litre obtainable in Nigeria is the cheapest Continue Reading
Despite Nigeria’s effort to curb the menace of pirates attacks on vessels particularly in the Gulf of Guinea, Nigeria has continued to lead other countries of the world that are Continue Reading
The new Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC) Mallam Mele Kolo Kyari yesterday assumed office setting targets that included fixing all the country’s refineries before Continue Reading
A Nigerian court has ordered the seizure of $40 million of luxury items, mainly jewelry and a customized golden iPhone belonging to the ex-minister of Nigeria’s petroleum resources Diezani Alison-Madueke, Continue Reading
Libya’s United Nations-backed government blamed the United Arab Emirates for an airstrike that killed more than 50 people in Tripoli this week, suggesting a new level of foreign intervention in Continue Reading
Libya’s civil war has taken a catastrophic turn, plunging the country even deeper into crisis. An airstrike hit a detention center for migrants on the outskirts of Tripoli, killing at Continue Reading
About 30 persons were on Monday killed while over 60 suffered various degrees of burns while scooping Premium Motor Spirit, PMS, also known as fuel from a loaded truck that Continue Reading
International oil major Shell and Nigerian stakeholder communities agreed to reopen the flow station for the Oil Mining Licence 25, the regional Rivers state governor said. Shell also agreed in Continue Reading
Libya must remain exempt from any OPEC production cuts, the country’s National Oil Corp quoted its chairman, Mustafa Sanalla, as saying in a tweet. Sanalla also said Libya has the Continue Reading
The conflict in oil-rich Libya has now widened to directly include Turkey, with General Khalifa Haftar launching an air strike on a Turkish drone and then seeking to calm the Continue Reading
While Libya’s oil lies at the heart of three months of fighting over Tripoli and years of power struggles before that, water is becoming a far bigger concern for its Continue Reading
Nigeria’s crude oil export fell by 1.6 million barrels in May, representing a 6.8 per cent decline from data for April export, according to figures obtained from the Central Bank Continue Reading
Bryan Denton for The New York Times Libyan government fighters discovered a cache of powerful American missiles, usually sold only to close American allies, at a captured rebel base in Continue Reading
Forces of the UN-recognized Government of National Accord in Libya have seized a town near Tripoli that served as the main supply base for the Libyan National Army of General Continue Reading
Royal Dutch Shell ( RDSa.L ) and Exxon Mobil ( XOM.N ) are looking to re-enter the market in Somalia ahead of an oil block bid round taking place later Continue Reading
Outages at North Sea oilfields have helped put competing for Nigerian oil on pace to arrive in Europe at the highest levels in seven months in June, according to Refinitiv Continue Reading
The Department of Petroleum Resources (DPR) has said that in 2017, a total of 264,938,662 barrels of crude oil were stopped from getting out of oil fields in the country Continue Reading
Despite frequent oil field outages and now an open conflict between the UN-recognized government and the eastern-affiliated LNA, Libya’s oil production could double to 2 million bpd by 2023, IHS Continue Reading
In what is the first confirmed strike against a foreign-owned oil asset, Libya’s National Oil Corporation said a warehouse in Tripoli that it owns jointly with Italian Eni was hit Continue Reading
Motorists here have expressed concern over service stations which are charging for fuel in US dollars only despite a directive from Government that they should accept all forms of payment. Continue Reading
The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, says the country’s daily oil production is currently 2.32million barrel per day. Mr Baru disclosed this on Tuesday when Continue Reading
Libya’s internationally recognized National Oil Corporation (NOC) said on Thursday that it is concerned about an increased military presence inside one of the country’s key oil terminals, Ras Lanuf, warning Continue Reading
Citing the danger of continuous sabotage to people and environment, and attendant loss of revenue, Shell Nigeria has called for stakeholders’ support to curb the incessant vandalism of crude oil Continue Reading
Continued clashes in Libya and an escalation of hostilities could threaten the oil production of Wintershall Dea in the North African country, Mario Mehren, the chief executive of the European Continue Reading
The fundamentals of the 2019 budget are under threat as crude oil price slumped again yesterday to flatten at $60 per barrel, the same benchmark on which the N8.8 trillion Continue Reading
Fuel scarcity has hit Sierra Leone’s capital, Freetown since Sunday, causing long queues at gas stations and hampering the movement of vehicles and goods across the country. Commercial drivers, motorbike Continue Reading
The Sarir oilfield in Libya’s Sirte basin has seen its oil production drop by 30,000 bpd since June 9 when a fire broke out in a power generator due to Continue Reading
Angola plans to launch a renewable energy auction that could help reduce reliance on oil, after one of its worst fuel shortages in May, energy secretary Antonio Costa said on Continue Reading
Nigeria’s four refineries operated at just 5.55 percent of their combined nameplate capacity of 445,000 barrels daily (b/d), according to latest data released by Nigerian National Petroleum Corporation (NNPC), underlining Continue Reading
OPEC has so far avoided a bruising intra-bloc market share battle, with top exporter Saudi Arabia’s crude oil production falling to a four-and-a-half-year low in May, even as sanctions-hit Iran, Continue Reading
OPEC has so far avoided a bruising intra-bloc market share battle, with top exporter Saudi Arabia’s crude oil production falling to a four-and-a-half-year low in May, even as sanctions-hit Iran, Continue Reading
The diplomatic spat between Kenya and Somalia was poised to take a turn for the worse after leaked Somalia government documents showed that Mogadishu had put on auction offshore oil Continue Reading
Royal Dutch Shell, the parent body of Shell Nigeria Exploration and Production Company Limited (SNEPCo), has attributed the persistent oil pipeline spillage in the Niger Delta region of the country Continue Reading
Facts emerged yesterday that the April 18, 2019 oil well fire on Chevron Nigeria Limited (CNL)’s Ojumole Well 1 in Polobubo (Tsekelewu) community in Warri North Council, Delta State, is Continue Reading
A report has revealed that oil theft has replaced activities of militants, with Nigeria losing 100,000 barrels daily, running into trillions of naira. The report by Bloomberg showed that between Continue Reading
Facts emerged yesterday that the April 18, 2019 oil well fire on Chevron Nigeria Limited (CNL)’s Ojumole Well 1 in Polobubo (Tsekelewu) community in Warri North Council, Delta State, is Continue Reading
Israel’s NatGas Exports to Egypt from Leviathan Could Start in June From the Jerusalem Post Israeli energy company Delek Drilling expects to commence commercial gas exports to Egypt by the Continue Reading
Dr. Emmanuel Kachikwu, Minister of State, Petroleum, in President Buhari’s just-ended first term has said that the future of the Nigerian oil and gas sector lies in private sector refining, Continue Reading
The last time Riad al-Hami saw his mother alive, she was chatting with a neighbor in the narrow street outside their houses, as they did every evening. Though the distant Continue Reading
Cameroon has increased troops around its lone oil refinery, after a weekend explosion caused a shutdown of the facility. But the government denies separatist fighters were responsible and says there Continue Reading
Angola’s steep decline in crude production over the past three years has been tough to ignore. The government led by President Joao Lourenco has unearthed a plan that includes tendering Continue Reading
African crude oil sales into China, the world’s biggest importer, have stalled as buyers wait for spot sale offers from top supplier Angola to fall in line with slumping benchmark Continue Reading
Nigeria will be in a vulnerable position if oil prices fall again and further borrowing becomes too expensive or no longer feasible, a report has warned. Andrew Roche, sovereign debt Continue Reading
The Senate, yesterday, raised the alarm that the nation has spent not less than N11 trillion on oil subsidy payment in six years, warning that further payment could kill the Continue Reading
On April 4, Khalifa Haftar , the militia leader who controls eastern Libya, launched a large-scale offensive to capture the capital, Tripoli. The attack marked the collapse of negotiations to Continue Reading
While the oil market is fixated on the U.S.-China trade war for signs of demand, and on Iran, Venezuela, and the Middle East for signs of more supply disruptions, investors Continue Reading
Multinational oil and gas companies’ increasing shift towards low carbon investments is threatening the future of discoveries in East Africa, a region that was regarded as a frontier for hydrocarbons. Continue Reading
