Libya is facing a major oil crisis as a group comprising local tribesmen and members of the field’s security guard seized the largest field in the country, Sharara. Reuters reported Continue Reading
Petroleum product Marketers and Depot Owners Associations, gave the government, a seven day ultimatum last week, to redeem their long overdue balance for over N800bn for fuel, already sold at Continue Reading
Nigerian National Petroleum Corporation (NNPC) has assured petroleum products consumers across the country not to engage in panic buying in the countdown to depot shutdown by Depot and Petroleum Products Continue Reading
Libya’s National Oil Corporation (NOC) has declared force majeure on crude oil loadings from the country’s biggest oil field due to a forced shutdown caused by the presence of militia, Continue Reading
Libya’s crude oil production has fallen by about 300,000 bpd since the start of this month on the back of oil export terminal shutdowns amid harsh weather and full storage Continue Reading
Libya has closed all its oil loading terminals due to bad weather, and soon-to-be-full storage tanks will lead to a shut-in of 150,000 bpd, or half of the oil production Continue Reading
The management of the Nigerian National Petroleum Corporation (NNPC) said it was compelled to award the surveillance contract of the strategic 87-kilometre Trans Forcados Pipeline (TFP) to a new contractor Continue Reading
Highlights Both countries still want exemptions from quotas Output recoveries may weaken their cases Delegates say it’s time they help rebalance the market Vienna — Libya and Nigeria could be Continue Reading
BENGHAZI, Libya (Reuters) – Several eastern Libyan oil ports including Es Sider and Ras Lanuf have closed due to bad weather, a port engineer said on Wednesday. A tanker had Continue Reading
Petrol queues at gas stations often return during industrial disputes (Guardian ) Nigerians should brace up for another period of petrol scarcity, unless a resolution arrives soon enough. And no, Continue Reading
Four Libyan oil export ports that were closed last week because of bad weather have reopened, a Libyan shipping source and port engineers said on Sunday. Tankers were docking at Continue Reading
Fuel service stations are getting the normal supplies of a combined eight million litres daily, but panic buying by motorists in anticipation of a price increase and the festive season Continue Reading
The year is not yet over, but Libya’s crude oil exports to China in value terms are already worth twice as much as what the North African country exported to Continue Reading
Several crude oil terminals in Libya have been closed due to inclement weather, with oil production in the country already down by 150,000 bpd and likely to drop by a Continue Reading
The Zimbabwean oil crisis, largely caused by poor planning on the nations’ government, has reached an all-time low, which has now resulted in the dwindling fuel supplies reaching a critical Continue Reading
Plans by Nigerian government to fix Nigeria’s moribund refineries and make them work in utmost capacity will not materialise until 2020, Ibe Kachikwu, Nigeria’s oil minister has said. Mr Kachikwu Continue Reading
Algeria’s state oil and gas company has pulled out of Libya citing deteriorating security conditions, Libyan media report , adding the company had first evacuated its personnel from its neighbor Continue Reading
Nigeria will lose an estimated $6 billion in revenue to international oil companies, Shell and Eni, over the deal on the controversial oil block, widely known as Oil Prospecting License Continue Reading
By Gift Phiri, Blessings Mashaya, Jeffrey Muvundusi and Bernard Chiketo Government assured motorists yesterday that there were no shortages of fuel and urged them not to engage in panic buying Continue Reading
Russia’s Gazprom Neft has signed a memorandum of understanding with South Sudan to explore four oil blocks, South Sudan’s petroleum minister said on Tuesday. The oil arm of Russian gas Continue Reading
Libyan crude will soon be making the long journey to a refinery in New Zealand in a rare export route for the North African country’s oil, which usually finds homes Continue Reading
When last week news broke that Libya’s UN-recognized government and the eastern rival government might just be willing to settle their differences and hold elections early next year, its significance Continue Reading
Nigeria’s rig count — a standard yardstick used in measuring a nation’s activeness in exploration and production of crude oil and gas — for the month of October, 2018 increased Continue Reading
Nigerian opposition candidate Atiku Abubakar will seek to boost investment in the country’s oil sector if he becomes president next year, according to a draft copy of his manifesto. He Continue Reading
A presidential candidate from the People’s Democratic Party has said the Niger Delta communities could keep all of the revenues the oil-rich province produces. In an interview with the Africa Continue Reading
The Senate yesterday said it again uncovered illegal multiple withdrawals of $1.151 billion from the dividends accounts of the Nigeria Liquefied Natural Gas (NLNG) by the Nigeria National Petroleum Corporation Continue Reading
On Saturday, nearly two decades after securing the initial rights, Total’s CEO Patrick Pouyanné was in Luanda to snip the ribbon on a $16 billion oil project. It’s not clear Continue Reading
Sudan expects it will be able to launch a bidding round for oil and gas blocks in the country in the third quarter of 2019 , Sudan’s Petroleum Minister Azhari Continue Reading
Shell Petroleum Development Company (SPDC) on Monday decried the high rate of vandalism on its pipeline network at its oilfields in Bayelsa resulting to oil leaks and pollution of the Continue Reading
Nigeria will raise its crude oil production to 1.8 million bpd in 2019 from around 1.6 million bpd currently, the head of the Nigerian National Petroleum Corporation (NNPC) told Reuters Continue Reading
Nigerian oil production is set for a timely boost, climbing to around 2.2 million b/d by early next year with the startup of the giant 200,000 b/d Egina field, oil Continue Reading
Libya’s National Oil Corporation will soon resume the Phase 2 development of the Bahr Essalam field—the largest producing offshore gas deposit in the country—and by the end of the year, Continue Reading
Nigeria’s state oil company is mulling over the signing of two more oil swap deals, with Exxon and Shell, after last week it sealed an oil-for-products deal with BP, Reuters Continue Reading
President Mnangagwa yesterday officially announced the discovery of oil and gas in the greater Muzarabani area by Australian Stock Exchange-listed company Invictus Energy stretching over 200km. The size of the Continue Reading
The Nigerian National Petroleum Corporation (NNPC) Thursday said it had signed a six-month crude-for-product deal with BP Oil International Ltd, to supply Nigeria petrol ahead of the upcoming Yuletide and Continue Reading
Greyhound Bay was once a place where old ships came to die. A wild stretch of coast on the western edge of the Sahara, its shallows made a convenient, if Continue Reading
Libya has restarted the eastern al-Bayda oilfield, a field engineer said late on Tuesday, the latest operation in the so-called Oil Crescent region to resume work after heavy fighting in Continue Reading
A total of $22.06 billion and N481.75 billion oil and gas revenues are yet to be remitted to the federation account by the Nigeria National Petroleum Corporation (NNPC), the Nigeria Continue Reading
A new report by GlobalData, a data and analytics company has said that effort by Nigeria to revive its ailing refineries alongside other upcoming private refinery projects will place the Continue Reading
It is quite rare for African national oil companies (NOCs) to liberalize, especially in countries that are heavily dependent on oil revenues. Yet Angola, whose stability was sent reeling by Continue Reading
Libya is one of the most unreliable oil producers in OPEC and outside it. Production outages are a frequent occurrence as various armed groups vie for power over the country’s Continue Reading
A small group of Libyan tribesmen staged a protest at the southern El Sharara oilfield last week, threatening to close down production unless their living conditions improved, a videotape showed Continue Reading
The Chairman, Senate Committee on Petroleum Resources, Upstream, Donald Omotayo Alasoadura, has said that Nigeria has lost no less than $10 billion revenue in the last 18 years due to Continue Reading
The Department of Petroleum Resources (DPR) in Adamawa on Wednesday said it would limit supply of petroleum products to border areas to control the illegal exportation of products. Ibrahim Chiroma, Continue Reading
BP and Eni will begin exploratory drilling in Libya in the first quarter of next year, BP’s chief executive Bob Dudley told Reuters. BP has 85 percent in an offshore Continue Reading
Libya held a rare oil conference in the eastern city of Benghazi on Wednesday as its state oil firm NOC reached out to a region home to a parallel government Continue Reading
Libya’s oil production could rise by several hundred thousand barrels daily when BP and Eni resume production at a shared field, the head of the country’s state oil company told Continue Reading
The Nigerian National Petroleum Corporation (NNPC) on Thursday said the fire incident that happened on System 2E pipeline network in Umuaduru and Umuimo communities in Abia state was caused by Continue Reading
Exxon is betting very big on Africa for its next big find, the supermajor’s head of exploration, Stephen Greenlee, told Bloomberg in an interview. In fact, Greenlee said, Exxon was Continue Reading
The theft of crude oil in Nigeria has cost the country €9 billion in the last two years. DW’s Fred Muvunyi traced the illicit flow of ‘fungue’ to a port Continue Reading
