Nigerian presidential hopeful Atiku Abubakar on Wednesday branded the state-run oil company a “mafia organisation” and pledged to privatise it if he is elected. Abubakar said he had tried to Continue Reading
On Monday morning, Mozambican soldiers opened fire to disperse protesters calling for natural gas projects to be suspended until more pressing issues, particularly fundamentalist insurgents, are dealt with. Nonetheless, Mozambique Continue Reading
The Nigerian National Petroleum Corporation (NNPC), bemoaned the rising incidents of pipeline vandalism across the country, stating that in October 2018, its pipeline network suffered a 42.9 per cent increase Continue Reading
The Dangote Oil Refining Company (DORC) Limited, said it took delivery of one of the major components of its refinery equipment; the regenerator for the residual Fluid Catalytic Cracker last Continue Reading
Glencore has lost its exclusive right to market two of Libya’s crude grades and oil companies like Shell and BP have already had their first allocations of the grades to Continue Reading
The United Nations says Nigeria lost an estimated 2.8 billion dollars in revenues in 2018, mainly due to oil-related crimes. This is according to a new ‘Report by the Secretary-General Continue Reading
Libya plans to pump 2.1 million bpd of crude oil by 2021 if the security situation improves, the chairman of the National Oil Corporation, Mustafa Sanalla, said as quoted by Continue Reading
Chineme Okafor reviews a new report that revealed that Nigeria’s petroleum products pipelines are in a state of disrepair and need to be fixed or replaced The outcome of a Continue Reading
Libya’s oil revenue rose to $24.4 billion in 2018, up 78 pct from 2017, Libya’s National Oil Corporation (NOC) said in a statement on Sunday. NOC also said it recorded Continue Reading
Suspected militants may have renewed hostilities against oil companies operating in the Niger Delta. For example, a group yesterday claimed it was behind the attack on an oil pipeline at Continue Reading
The federal government will spend over N3 billion on fuel, generators and plants across 602 ministries, departments and agencies this year. These figures do not include money voted by the Continue Reading
Libya’s closed Sharara oilfield is expected to lose 8,500 barrels per day to looting, state oil company NOC said on Thursday. NOC declared force majeure on Dec. 17 at Sharara, Continue Reading
It is often said that climate change will hurt the world’s poorest people first. Nowhere is that potentially truer than in Somaliland , an unrecognised state in the Horn of Continue Reading
Egina field to push output by 10% in 2019 Energy bill key to sector’s renaissance Fiscal, militancy challenge ahead of elections London — Nigeria’s oil sector is in urgent need Continue Reading
Days before OPEC’s production cuts started on January 1, France’s Total had started up oil production from Nigeria’s ultra-deepwater oil field Egina, which is expected to produce 200,000 bpd at Continue Reading
France-based Total said Wednesday it started production in the Egina field in offshore Nigeria which will eventually reach 200,000 barrels of crude oil per day. The new production, which will Continue Reading
The field of global liquefied natural gas (LNG) producers will get even more crowded going forward. U.S. oil major Exxon Mobil said Monday that it, along with project partners in Continue Reading
Nigeria’s crude oil daily production recorded an upward swing of about 2.09million barrels in 2018, translating to a 9 per cent increment, compared with the 2017 average daily production of Continue Reading
The price of crude oil, yesterday, dropped from $50 to $48 in the international market, showing $12 below Nigeria’s $60 per barrel 2019 budget reference price. Specifically, the price of Continue Reading
Exxon has secured long-term purchasing commitments for liquefied natural gas from its Rovuma project in Mozambique, moving closer to a final investment decision on a facility that will add as Continue Reading
Libya’s oil and gas revenue dipped to $2.4 billion in November from $2.87 billion in October, but full-year revenue is expected to surge by 76 percent to $24.2 billion, state Continue Reading
The Nigerian Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), and 22 other oil companies are yet to pay to remit $3,632,075 to the Federation Continue Reading
Suicide attackers hit the headquarters of Libya’s foreign ministry in Tripoli on Tuesday, opening fire before blowing themselves up inside, a security source said. An employee at the ministry said Continue Reading
Libya’s National Oil Corporation chairman Mustafa Sanalla and the country’s internationally recognized Prime Minister Fayez al-Sarraj on Monday agreed to a new security plan to protect El Sharara oilfield, which Continue Reading
Libya’s output recovery obscures the fragility of its outlook, against a backdrop of political uncertainty and a worsening security situation. Receive daily email alerts, subscriber notes & personalize your experience. Continue Reading
Sixteen oil and gas firms have submitted applications for one or more of five Ghanaian offshore blocks in the West African country’s first exploration licensing round, its energy ministry said. Continue Reading
BP has made a final investment decision to move ahead with the first phase of the project to develop the Greater Tortue Ahmeyin gas field located in ultradeep waters shared Continue Reading
Libya’s output recovery obscures the fragility of its outlook, against a backdrop of political uncertainty and a worsening security situation. Receive daily email alerts, subscriber notes & personalize your experience. Continue Reading
Minister of State for Petroleum Resources, Ibe Kachikwu , has spent over three years in office. In this interview with KINGSLEY JEREMIAH and JOKE FALAJU, Kachikwu spoke on his achievements, Continue Reading
Libya’s Sharara oilfield remains closed, state oil firm NOC said on Thursday, resisting pressure from some officials to quickly pay off protesters which shut it down. On Wednesday, Libya’s internationally Continue Reading
Just as OPEC and partners will have started the new round of production cuts to reduce oversupply, France’s Total is set to begin exports from the new ultra-deep Egina oil Continue Reading
Controversy trailed Wednesday’s revelation by the Federation Accounts Allocation Committee (FAAC) that the excess crude revenue account savings has been depleted to only $631 million within three weeks. Barely three Continue Reading
The U.S. State Department has issued a statement urging the Libyan authorities and the militants who put a blockade on the country’s biggest oil field to resolve their differences so Continue Reading
War-torn South Sudan could become a significant oil producer in the region if the country can manage to maintain a peace deal reached between warring sides in September. However, according Continue Reading
After a week’s blockade by a militant group, Libya’s largest oil field, Sharara, has been shuttered by a force majeure declaration by the National Oil Corporation. Reuters cited a statement Continue Reading
Libya’s National Oil Company NOC has once again shocked the oil market by officially declaring force majeure on its operations at the El Sharara oilfield, the largest oilfield in the Continue Reading
An Italian judge, Giusy Barbara yesterday said oil groups Eni and Royal Dutch Shell were fully aware that their purchase of a Nigerian oilfield in 2011, would result in corrupt Continue Reading
Libya’s National Oil Company (NOC) has declared force majeure on operations at El Sharara oilfield, it said late on Monday, a week after the company declared force majeure on the Continue Reading
An Italian judge said on Monday oil majors Eni ( ENI.MI ) and Royal Dutch Shell ( RDSa.L ) were fully aware their 2011 purchase of a Nigerian oilfield would Continue Reading
On October 15 President Nana Akufo-Addo announced the opening of the country’s first open and competitive round of bidding for energy exploration licences, with three offshore blocks being offered. Previously, Continue Reading
Libya’s state-owned National Oil Corp. (NOC) said it was against paying a ransom to an armed group that has halted crude production at the country’s largest oilfield. “Any attempt to Continue Reading
Nigerian oil minister, Ibe Kachikwu, projects that Nigeria may increase output by about 60 percent within two years. Kachikwu (L) is shown here during a visit to Italy in January Continue Reading
Libya’s National Oil Corporation said it would not pay a “ransom” to have the armed militiamen that shut down the field last week lift their blockade, the company’s chairman said Continue Reading
Minister of State for Petroleum Resource, Dr. Ibe Kachikwu yesterday said the President Muhammadu Buhari-led government has not spent a dime on the country’s four refineries, an achievement not many Continue Reading
Despite assurances that Nigeria is working to diversify its economy away from oil, the African OPEC member continues to depend heavily on oil exports, and consequently, on oil prices, for Continue Reading
Last Friday’s resolution by the Organisation of Petroleum Exporting Countries (OPEC) to cut 800,000 barrels, or 2.5 per cent of members daily output, will see Nigeria’s daily oil production drop Continue Reading
Libya An armed group has seized one of Libya’s largest oilfields in the country’s southwest, the state-owned National Oil Corporation said Monday. The seizure of Sharara oilfield prompted the company Continue Reading
Libya’s National Oil Company (NOC) on Monday declared force majeure on exports from the El Sharara oilfield, which was seized at the weekend by a local militia group. NOC said Continue Reading
Libya’s National Oil Corporation (NOC) will not pay or negotiate with those who closed Sharara oilfield, NOC Chairman Mustafa Sanalla told a local TV channel on Monday. “We will not Continue Reading
Libya is shutting down production at its biggest oilfield after tribesmen and state security guards seized the El Sharara facility, field engineers and protesters said on Sunday, but there was Continue Reading
