Nigeria’s crude production may rise further by additional 160,000 barrels per day (bpd) with the completion of Pan Ocean Oil Corporation Nigeria Limited’s three oil and gas infrastructure. Although Federal Continue Reading
Five oil wells in oil-rich Ondo State has been reportedly gutted by fire on Thursday morning. The fire, accompanied by an explosion occurred at Ajegunle Ikorigho, Ondo State. The oil Continue Reading
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has warned that Nigeria is facing stiff competition from new oil and gas discoveries in Africa Continue Reading
Forces backing Libya’s internationally recognized government fought house-to-house battles with troops loyal to commander Khalifa Haftar in southern parts of the capital Tripoli on Sunday and appeared to be gaining Continue Reading
Eastern Libyan state oil firm AGOCO, a subsidiary of state oil firm NOC, is producing 304,000 barrels a day of oil, its chairman told Reuters on Sunday. Mohamed Shatwan said Continue Reading
The National Union of Petroleum and Gas Workers (NUPENG) has urged the federal government to reject the advice given by the International Monetary Fund (IMF) on fuel subsidy. NUPENG also Continue Reading
With increased global competition in the crude oil production space, and the need to find a solution to the rising subsidy payments, the Nigerian National Petroleum Corporation (NNPC), has said Continue Reading
Saudi Arabia has hinted on the possibility of establishing a refinery in Nigeria. Minister of Energy Industry and Mineral Resources of the Kingdom of Saudi Arabia, Khalid Al Falih dropped Continue Reading
Highlights To sign MOU on energy investment Saudi Aramco looking at building oil refinery in Nigeria Nigerian refining in urgent need of investment London — Saudi Arabia is looking to Continue Reading
Algerian state energy firm Sonatrach will focus on increasing production and export volumes to help develop the OPEC member country’s oil and gas-reliant economy, its newly-appointed head Rachid Hachichi said Continue Reading
Nigeria’s petroleum downstream sub-sector, especially refineries, pipelines and others may witness a major overhaul following ongoing talks between the Federal Government and the Saudi authorities in Riyadh. The Minister of Continue Reading
Nigerian firm Aiteo Oil Exploration and Production Company , has discovered that sabotage was the cause of the fire that caused Nigeria’s oil production to fall 8% per day, creating Continue Reading
The House of Representatives, on Wednesday, passed a bill seeking to help plug leakages in government’s streams of income in the oil sector for second reading. This followed a motion Continue Reading
The Organisation of the Petroleum Exporting Countries (OPEC), is upbeat at the prospect of the Dangote Oil Refinery, in driving world crude oil refining capacity increase especially in Africa by Continue Reading
Many companies are now floating modular refineries in Nigeria – and it’s shaping up to be a big positive for the energy sector and the Nigerian economy. MARK ITSIBOR reports Continue Reading
The operator of the Nembe Creek Trunk Line—one of the two key pipelines of Nigeria’s Bonny Light crude grade capable of transporting 150,000 bpd to the export terminal— declared on Continue Reading
The Organization of Petroleum Exporting Countries (OPEC) is upbeat at the prospect of Dangote Oil Refinery serving to drive world crude oil refining capacity increase, especially in Africa by 2020. Continue Reading
In a sharp reversal of longstanding US policy which recognizes only the UN-backed Government of National Accord (GNA) in Tripoli as the legitimate authority over Libya, the White House on Continue Reading
The state oil company of OPEC member Angola, Sonangol, plans to sell off stakes in dozens of joint ventures and cut jobs in order to focus on its core exploration Continue Reading
Aiteo Eastern Exploration and Production has declared force majeure on crude oil supply through Nigeria’s 150,000 b/d Nembe Creek Trunk Line, a key oil pipeline connected to the Bonny terminal Continue Reading
US President Donald Trump’s apparent signal of support for the Libyan National Army over the UN-backed Government of National Accord was motivated by the president’s concerns over the impact another Continue Reading
Abdullah Doma/Agence France-Presse — Getty Images President Trump on Friday abruptly reversed American policy toward Libya, issuing a statement publicly endorsing an aspiring strongman in his battle to depose the Continue Reading
The Senate yesterday passed a new bill, which provided for penalty against gas flaring and other malpractices in the oil and gas sector.The last legislation on gas flare, the Associated Continue Reading
Former Vice President Atiku Abubakar made an unpopular statement during the campaign worth a second thought. He said if he was elected president, he would sell off the Nigerian National Continue Reading
Since eastern strongman General Khalifa Haftar ordered his self-styled Libyan National Army (LNA) to march on Tripoli, almost 180 people have died and 800 others have been wounded in the Continue Reading
Egypt plans to slash fuel and electricity subsidies in its 2019/2020 financial year, the finance ministry’s draft budget shows, but raising fuel prices closer to international levels could turn out Continue Reading
Libya’s oil production has yet to suffer disruptions, even as oil prices have climbed on fears of potential outages. However, the longer fighting drags on, the more likely Libya’s oil Continue Reading
Production outages and maintenance are set to push Angola’s oil exports to a 13-year low, according to an industry source quoted by Reuters. There are just 38 oil cargoes scheduled Continue Reading
One of Africa’s brightest LNG prospects, Tortue FLNG is edging increasingly closer to its estimated commissioning date, 2022. It is one of the largest deepwater gas find of recent years Continue Reading
Egyptian President Abdul Fattah al-Sisi (C) receives LNA commander Khalifa Haftar (L) in Cairo on Sunday. (Reuters) Libyan National Army commander Khalifa Haftar received on Sunday Egypt’s backing for his Continue Reading
The Federal Government, yesterday, disclosed that it has started the real-time tracking and monitoring of gas flaring and oil spillage across the country. Speaking during the launch and handover of Continue Reading
The nation’s fuel shortage has worsened as consumers spent the weekend on queues for the product, despite assurances by the Nigerian National Petroleum Corporation, NNPC. Meanwhile, the Federal Government yesterday, Continue Reading
The Nigerian Security and Civil Defence Corps (NSCDC) will on Monday begin a clampdown on petrol dealers hoarding or diverting products in Ekiti State. The NDCDC, Ekiti Command, said it Continue Reading
After several unmet deadlines for ending gas flaring, oil and gas firms still continue to waste natural gas resources in the country as the 2020 deadline nears, ’FEMI ASU writes Continue Reading
A dispute between Haiti and a U.S. energy trading firm is leading to long blackouts and fuel shortages in the Caribbean nation, feeding anger at President Jovenel Moise’s government following Continue Reading
The Executive Director and Production Manager of ExxonMobil Nigeria, Richard Laing debunked the rumor that the organizations was exiting from Nigeria. Laing made this statement on Saturday during the Minister Continue Reading
Ibe Kachikwu, the Minister of State for Petroleum Resource says that no International Oil Company (IOC) is planning to exit Nigeria contrary to reports in some section of the media. Continue Reading
Days before Libyan military commander Khalifa Haftar launched an offensive to seize the capital and attempt to unite the divided country under his rule, Saudi Arabia promised tens of millions Continue Reading
Hundreds of thousands of Algerians took to the streets Friday in one of the largest demonstrations the country has seen since its president resigned last week, demanding that the interim Continue Reading
Libya’s oil production is under threat from renewed fighting between warring armed groups and the situation could become as bad as it was during the 2011 civil war, the National Continue Reading
The average production cost for a barrel of oil in Nigeria has declined to just US$23 a barrel, Petroleum Minister Emmanuel Ibe Kachikwu told local media, adding that oil companies Continue Reading
Washington DC — The International Monetary Fund (IMF), yesterday in Washington DC, United States, declared that Nigeria’s Excess Crude Account (ECA) was not achieving the goals for which it was Continue Reading
Omar al-Bashir, long-term President of Sudan, was toppled from power by the military on Thursday and placed under “heavy guard”, following months of protests against the government and its handling Continue Reading
Libya’s oil and gas exports are facing the biggest threat since 2011 given the scale of the fighting and the aftermath of the conflict in the country, Libya’s National Oil Continue Reading
The future of Algeria’s oil industry was called into question earlier this week as its political crisis took hold, and now its future is even more suspect, as its state-run Continue Reading
The removal of long-time Sudanese dictator Omar Bashir by the Sudanese army has been hailed by some as a sign of a new “Arab Spring”. From a Western point of Continue Reading
No fewer than 800 companies have bid for management of 176 gas flare sites in the country, the Minister of State for Petroleum Resources, Ibe Kachikwu, has said. Mr K.achikwu Continue Reading
The International Monetary Fund (IMF) has advised Nigeria and other countries still subsidising fuel for domestic consumption to stop doing so. The IMF said fuel subsidy removal would help boost Continue Reading
The Federal Government, Thursday, disclosed that it is working on a legislation, through the Department of Petroleum Resources, DPR, to compel petroleum products marketers to set up gas filling plants Continue Reading
“Today, a very large meeting of terrorist groups and armed groups took place in Sirte, we know who they belong to. They have a plan proposed at the meeting to Continue Reading
