Libya’s government in Tripoli has reportedly appointed a new board to govern the National Oil Company (NOC), with interim Government of National Unity prime minister dismissing long-time chairman Mustafa Sanalla Continue Reading
Out of the 1.772 million barrels per day crude oil allocated to the country by the Organisation of Petroleum Exporting Countries (OPEC) in June, Nigeria was only able to produce Continue Reading
Highlights Oil terminals opened to allow tanker to carry condensate Libya’s oil supply crisis has slashed output by more than half It pumped 650,000 b/d in June, lowest since Oct Continue Reading
An appeal court in U.S on Friday said ExxonMobil Corp and Royal Dutch Shell Plc affiliates may try to enforce part of a $1.8 billion arbitration award against the Nigerian Continue Reading
Flight operations in Nigeria have become precarious as airlines face abrupt disruption of flights due to scarcity and high prices of aviation fuel, which may impair profitability, writes Chinedu Eze Continue Reading
Egypt’s non-oil private sector economy had its worst performance in two years as demand slumped after a sharp spike in prices and the pound’s devaluation while businesses struggled to secure Continue Reading
Nigeria lost $1 billion in revenue during the first quarter of this year due to crude oil theft, the petroleum regulator said on Friday, warning the practise was a threat Continue Reading
Protesters broke into Libya’s parliament in Tobruk on Friday evening and set a fire in front of the building to express their anger towards Libya’s warring political parties, witnesses told Continue Reading
The Brega oil port in Marsa Brega, Libya. Source:: -/AFP/Getty Images Libya’s oil exports have fallen to about a third of last year’s level after the worsening political crisis prompted Continue Reading
As Europe seeks to wean itself off Russian natural gas, Algeria, Niger, and Nigeria have revived a decades-old, multi-billion-dollar gas project. The Trans-Saharan Gas Pipeline (TSGP) could send up to Continue Reading
The OPEC member is suffering a worsening political crisis. Libya’s state oil company suspended shipments from the key eastern port of Ras Lanuf, according to people familiar with the matter, Continue Reading
Highlights Gulf of Sirte includes Es Sider, Brega, Ras Lanuf and Zueitina ports Force majeure could be declared in in 72 hours, says NOC chairman Production has fallen by almost Continue Reading
A worker arranges freshly baked bread for sale at the Al-Monira market in Cairo, Egypt. Sign up for our Middle East newsletter and follow us @middleeast for news on the Continue Reading
Highlights Eyes around 500,000 b/d in increase in next two months OPEC may not raise output quotas at August meeting Nigeria is increasing crude oil production and has set a Continue Reading
High voltage electricity transmission pylons alongside the Eskom plant in South Africa. Eskom Holdings SOC Ltd. said it may increase power cuts in South Africa as workers escalate protests over Continue Reading
Glencore Energy on Tuesday admitted to paying over $28 million (€26.5 million) in bribes across five African countries to secure preferential access to oil and generate illicit profit. The United Continue Reading
Commuters were, yesterday, stranded in Lagos, Abuja, Oyo and some other states, as the ongoing fuel crisis bites harder in the country. The scarcity, which started in Abuja about three Continue Reading
Nigeria output at multi-decade low, Angola close to the nadir of the early 2000s: S&P Global Nigeria, Angola show biggest over compliance to quotas among OPEC producers Persistent underinvestment, low Continue Reading
Glencore Energy on Tuesday admitted to paying over $28 million (€26.5 million) in bribes across five African countries to secure preferential access to oil and generate illicit profit. The United Continue Reading
Bashaga: It’s unlikely that Libya will descend into a full-blown civil war again. Without a unified government, Libya’s oil exports will remain unstable in the short-to-midterm. As of the middle Continue Reading
There were indications, weekend, that the fuel shortage noticed in Lagos and its environs would worsen, as independent marketers said they have not been supplied for days. An investigation by Continue Reading
Nigeria, Algeria and Niger Republic yesterday moved to reactivate the $13 billion Trans- Saharan Natural Gas Pipeline (TNGP) project as demand pressure continues to mount from within the continent and Continue Reading
Africa must act quickly to profit from its vast reserves of natural gas that the world will only want until it can shift towards lower carbon technology, the International Energy Continue Reading
An oil and gas platform off the coast of Libya in the Bahr Essalam Gas Field and Bouri Oilfield. Photographer: Antonio Sempere/Europa Press/Getty Images Sign up for our Middle East Continue Reading
Libya’s oil production has almost completely halted because of a political stalemate, officials told media, during a time of heightened global concerns over the supply of crude. The Libyan Ministry Continue Reading
The National Treasury now says fuel prices could increase further in the near future as the government seeks to gradually remove the subsidy cushioning Kenyans against high cost. In a Continue Reading
A new blockade of Libyan oil facilities has greatly reduced production levels, hitting an already tight global market and adding to fears an internal political stalemate could spark new fighting. Continue Reading
Libya’s oil output is 100,000-150,000 barrels per day (bpd), a spokesman for the oil ministry said on Tuesday, a fraction of normal levels due to the shutdown of production and Continue Reading
Still struggling with its oil production quota, the Organisation of Petroleum Exporting Countries (OPEC) yesterday revealed that Nigeria reported a paltry 1.024 million barrels per day production in May, a Continue Reading
European countries, scrambling to secure alternatives to Russian coal, imported 40% more coal from South Africa’s main export hub in the first five months of this year than over the Continue Reading
The relentless oil price is causing economic havoc around the world, and Libya represents a major supply risk that could send prices even higher. The recent failed attempt by Bashagha Continue Reading
The Brega oil port in Marsa Brega, Libya. Source: -/AFP Libya’s oil production has almost fully halted as a political crisis leads to more shutdowns of ports and fields. The Continue Reading
Algeria suspended a 20-year friendship treaty with Spain this week and moved to limit trade with its northern neighbour, raising more questions about the potential impact on the long-established gas Continue Reading
Libyan oil production and exports are set to drop again after two export terminals were blocked on Thursday, and protesters threatened on Friday to close another oil port. Groups of Continue Reading
Protestors shut Sarir oilfield, Es Sider terminal Threat to exports at Ras Lanuf Port Analysts expect larger, longer supply outages Libya’s oil sector has been hit by more supply disruptions Continue Reading
The In Salah Gas (ISG) Krechba Project in the Sahara desert near In Salah, Algeria. Want the lowdown on European markets? In your inbox before the open, every day. Sign Continue Reading
Protestors shut Sarir oilfield, Es Sider terminal Threat to exports at Ras Lanuf Port Analysts expect larger, longer supply outages Libya’s oil sector has been hit by more supply disruptions Continue Reading
Algeria suspended a 20-year-old friendship treaty with Spain that committed the two sides to cooperate in controlling migration flows, and also banned imports from Spain, escalating a row over Madrid’s Continue Reading
May production slumps 14% to average 1.28 million b/d Maintenance carried out at Qua Iboe, Bonny Light Political risks may worsen ahead of 2023 elections, say analysts Nigerian crude oil Continue Reading
Shell Plc is set to receive two final offers this week for its onshore oil and gas fields in Nigeria, according to people with knowledge of the matter. Local companies Heirs Continue Reading
In Cameroon, thousands of truckers spend weeks stranded at highways and border crossings due to lack of diesel. In Kenya, drivers are lining up overnight to fill their tanks. In Continue Reading
Developing nations are suffering the biggest hit from this year’s oil shock. Many are dependent on imported fuel and are being crushed by a combination of high international prices, weak Continue Reading
Motorists wait for hours in Abuja, Nigeria to fill their cars with petrol, due to the ongoing fuel shortage. A shortage of oil refineries across sub-Saharan Africa coupled with soaring Continue Reading
Motorists queuing for several hours at petrol pumps in the Nigerian capital, Abuja, has become the new normal after an acute scarcity in fuel earlier this year. In February, the Continue Reading
Motorists wait for hours in Abuja, Nigeria to fill their cars with petrol, due to the ongoing fuel shortage. Motorists queuing for several hours at petrol pumps in the Nigerian Continue Reading
On May 24, 2022 Swiss oil trading giant Glencore admitted to American justice that it had paid nearly one hundred million dollars in bribes to officials and public agents in Continue Reading
Low crude oil production means Nigeria is barely able to cover the cost of imported petrol from its oil and gas revenue, Finance Minister Zainab Ahmed told Reuters on Thursday. Continue Reading
Oil theft Lagos — The oil and gas sector, for years the main revenue generator in Africa’s largest economy, is the sole under-performer in Nigeria’s economic recovery. The monthly economic Continue Reading
For many Libyans, clashes that erupted in the capital of Tripoli last month were all too familiar — a deja vu of street fighting, reverberating gunfire and people cowering inside Continue Reading
Libya is losing another 22,000 barrels per day due to a pipeline leak at the Sarir Tobruk oilfield blamed on delayed budgets that have left the operating company unable to Continue Reading
