Nigerian Senate on Wednesday blamed the Nigeria National Petroleum Corporation (NNPC) and Department of Petroleum Resources (DPR) for the death of over 150 Nigerians involved in spillage. The 150 persons Continue Reading
Rome-based Eni, which earlier this decade led the discovery of an estimated 85 trillion cubic feet of natural gas in Mozambique, on Wednesday signed an accord in Maputo that will Continue Reading
The Senate on Tuesday resolved to probe the alleged mismanagement of $3.8 billion Subsidy Recovery Fund, SRF, by the Nigeria National Petroleum Corporation, NNPC. This is sequel ta o a Continue Reading
Libya’s National Oil Corporation’s Zawiya refinery, seen in 2013, supplies Tripoli, where fuel shortages are already rife, even before the location’s possible operating suspension in October 2018 Libya’s National Oil Continue Reading
THE death toll from last Friday’s Osisioma pipeline explosion in Abia is said to have risen to over 24, even as Eze Ikechukwu Chiavoghilefu, Chairman, Osisioma Local Government Traditional Rulers Continue Reading
The Monetary Policy Committee (MPC) sounded the warning during its 120th meeting last week. The Central Bank of Nigeria (CBN) committee said Nigeria risks slipping into another recession. All key Continue Reading
Crude traders yesterday sidelined crude coming from Nigeria but showed interest in specifications from Angola.Differentials for Nigerian crude remained unchanged as a lack of bids met an overhang of unsold Continue Reading
Italian oil major Eni on Monday signed an accord with BP and Libyan officials under which Eni will get a 42.5% interest in an exploration and operation sharing agreement in Continue Reading
Highlights First gas from TFT Sud expected in late 2021 Production to reach 3 million cu m/d by 2023 Part of 2017 Total, Sonatrach partnership deal Algiers — France’s Total Continue Reading
Fuel shortages intensified across the country as long queues formed at service stations that were selling the commodity amid widespread panic-buying of basic goods blamed on government’s new austerity measures. Continue Reading
Nigerian crude market is still stuck with an overhang of close to 20 unsold cargoes from the 58-strong October loading programme. International oil traders disclosed to The Guardian yesterday that Continue Reading
Total Nigeria Plc yesterday attributed accidents caused by oil tankers’ in Nigeria to illiteracy among tanker drivers, ageing equipment, substandard tank construction and low quality of road infrastructure. Total’s Management Continue Reading
Thanks to a huge natural gas discovery off its coasts, Egypt has just become self-sufficient in this key energy source, welcoming what it hopes to be its last liquefied natural Continue Reading
Nigerian crude market is still stuck with an overhang of close to 20 unsold cargoes from the 58-strong October loading programme. International oil traders disclosed to The Guardian yesterday that Continue Reading
After 58 years of independence, the state of the Nigerian oil industry has remained pathetic among other oil producers. Up till this moment, the industry lacks relevant and contemporary regulations. Continue Reading
Fuel rocket to its most expensive yet come Wednesday, according to the latest increase announced by the Department of Energy (DoE). Both grades of petrol, 93 and 95 (ULP & Continue Reading
Libya’s National Oil Corporation (NOC) is holding talks with international oil companies that could result in increased investment and production in Libya’s oil industry, if security across the country improves, Continue Reading
Opposition candidates seeking to unseat Nigeria’s President Muhammadu Buhari are attacking his economic record and treatment of foreign investors as election season intensifies in Africa’s most populous country. Four members Continue Reading
Highlights Crude output 1.28 million b/d, a five-year high Aims to produce above 2 million b/d by 2022 Algiers — Libya’s crude oil production has hit a five-year high, bringing Continue Reading
Libya’s oil production has hit its highest level since 2013, the chairman of the National Oil Corporation (NOC), Mustafa Sanalla, told Bloomberg in response to questions on Sunday. If the Continue Reading
Libya’s crude oil production is currently at its highest in more than five years despite current security challenges, the chairman of the state-owned National Oil Corporation said Sunday. Receive daily Continue Reading
Royal Dutch Shell wants to reweight its footprint in Nigeria to focus on oil and gas fields far offshore, away from the theft, spills, corruption and unrest that have plagued Continue Reading
It’s only September but Nigerians are already dreading Christmas. For years, the holiday season has been marred by paralysing fuel shortages, grinding business to a halt. “Every December, I guarantee Continue Reading
A Nigerian police investigation has retrieved hundreds of millions of dollars in stolen state oil funds. It came as an Italian court sentenced two men to four years in jail Continue Reading
An Italian court has concluded plans to deliver its first verdict on the trial of top Shell and Eni executives, over alleged corruption in the controversial Malabu scandal tomorrow in Continue Reading
Egypt has signed a deep-water oil and gas exploration deal with Royal Dutch Shell and Malaysia’s Petronas worth around $1 billion for 8 wells in the country’s West Nile Delta, Continue Reading
The huge Zohr gas field offshore Egypt has increased its production six-fold since it started production in January this year, Egypt’s Petroleum Minister Tarek el-Molla said on Thursday. Production at Continue Reading
The United States, yesterday, disclosed that Nigeria’s inability to eliminate subsidy on petroleum products and failure to hands off the fixing of electricity tariffs is hampering the provision of critical Continue Reading
Rockets have been fired at the only functioning airport in the Libyan capital of Tripoli, Reuters reports , citing information from local residents and a statement from the political faction Continue Reading
In what is largely seen as a win for the Libyan National Army’s (LNA) General Khalifa Haftar, the United States Treasury Department , in conjunction with the United Nations, slapped Continue Reading
A Chinese state oil major that already dominates most of South Sudan’s oil production is poised to play an even larger role in the African country’s efforts to boost its Continue Reading
Failure on the part of industry regulators in Nigeria has relegated Nigeria to the background among the comity of nations, thus making it a destination for dirty fuels. Petroleum products Continue Reading
Several armed men attacked the headquarters of Libya’s National Oil Corporation (NOC) in the capital Tripoli on Monday, killing at least two staff members, a security official said. In the Continue Reading
The latest clashes in Libya escalated on Monday when several gunmen attacked the headquarters of Libya’s National Oil Corporation (NOC) in Tripoli, and witnesses say that a few people have Continue Reading
At least 35 people were killed on Monday and hundreds injured when a gas tanker exploded in northern Nigerian the state of Nasarawa and started a blaze, the state emergency Continue Reading
Smoke rises from the headquarters of Libyan state oil firm National Oil Corporation An armed group is reported to have stormed the headquarters of the National Oil Corporation (NOC) in Continue Reading
Mustafa Sanalla, the chairman of Libya’s National Oil Corp., was evacuated from the company’s headquarters in Tripoli Monday after gunmen stormed the building, detonating grenades, sources in the country told Continue Reading
The Federal Government has secured a $500 million (about N179.9 billion) facility from the Export Import Bank of China (CEXIM) through the Bank of Industry (BOI) for the establishment of Continue Reading
Attendants at stations that lacked fuel, he said, told him that petrol quickly ran out on Wednesday as the shortage started to bite. Matatu drivers have also indicated that they Continue Reading
A fuel crisis has hit the country following a boycott by Kenya Independent Petroleum Distributors over the 16% VAT on fuel. Long queues were witnessed at various petrol stations as Continue Reading
Algeria has survived the decade of political turmoil, with Arab Spring revolutions subverting authoritarian leaders across the Maghreb, largely unscathed. Popular unrest was swiftly quelled by government handouts and thereafter Continue Reading
There are at least 41 billion untapped barrels of crude oil in sub-Saharan Africa, the U.S. Geological Survey estimated two years ago. During the downturn, oil companies bought licenses there Continue Reading
Oil giant, Shell, has reportedly initiated negotiations with local oil producers for selling two of its Nigerian oil licences in the Niger Delta, collectively worth $2 billion. The Anglo-Dutch petrochemical Continue Reading
The return of oil majors to African exploration projects as upstream spending recovers threatens to slow down, rather than accelerate, the pace of new finds in the region, Equatorial Guinea’s Continue Reading
Seven years after South Sudan became independent, leaving behind a sanguinary civil war, it finally reached the point where it places its bets on development and not on incessant internal Continue Reading
Union Fenosa Gas, a joint venture of Spain’s Naturgy and Italy’s Eni, operates the Damietta liquefied natural gas (LNG) plant in Egypt. The company took the country to court in Continue Reading
A ceasefire has been signed between armed factions fighting over the Libyan capital, the United Nations said on Tuesday, after more than a week of violence inside Tripoli. Dozens of Continue Reading
The Nigerian Navy has deployed 16 newly bought ships to the Niger Delta to guard critical oil infrastructure, local media report , quoting the Chief of the Nigerian Naval Staff. Continue Reading
A mortar shell landed in this market in Tripoli, Libya, last week. A parallel battle was heating up on Facebook. CAIRO — When a new bout of fighting between rival Continue Reading
A six-week-long blockade of ExxonMobil’s offices and oil facilities in Nigeria by former workers protesting their dismissals now threatens the normal production and exports of Nigeria’s flagship Qua Iboe crude Continue Reading
