Baker Hughes gets in on Egyptian natural gas bonanza
A contract to provide services for the giant Zohr natural gas field off the Egyptian coast is a win-win for its economy and our business, Baker Hughes said. Drilling services Continue Reading
Egypt muscling in on global gas production
Baker Hughes, a GE company, announced September 9, 2017 a major subsea contract from Petrobel for phase two of the “supergiant” Zohr Gas Field situated in the Mediterranean Sea, off Continue Reading
The Plastic Fantasy That’s Propping Up the Oil Market
Kenya’s mountains of plastic bags might not seem central to oil’s grand narrative, but they are. Last week, the East African country banned almost everything about them: making them, importing Continue Reading
Niger Delta Militants Rescind Threat Against Oil Majors
A coalition of militants in the Niger Delta who had previously vowed to attack Nigerian oil and gas pipelines if their demands were not met by October 1 st , Continue Reading
Libyan oil production back to normal
Operations at the Sharara oil field in Libya, the country’s largest, are back to normal following short-term “irregularities,” an Austrian energy company said. Mustafa Sanalla, the head of Libya’s National Continue Reading
Largest Libyan Oilfield Back Online After Armed Assault
Libya’s largest oilfield is now fully operational following a couple of weeks of output turbulence, according to UPI , who received official confirmation of the oilfield’s operational status from Austrian Continue Reading
Libya’s Biggest Oil Field Is Said to Resume Pumping Crude
Libya’s largest oil field resumed production after a halt of more than two weeks, putting pressure on OPEC and other producers seeking to rein in a global supply glut and Continue Reading
Nigeria: Total’s Egina to Raise Nigeria’s Oil Output By 200,000bpd in 2018
Federal Government’s plans to increase crude oil production to four million barrels daily (bpd) will receive a boost, as the multi-billion dollar Egina Floating Production Storage and Offloading (FPSO) vessel, Continue Reading
Libya Resumes Production At Largest Field Amid Rising Oil Prices
Libya’s largest oil field, Sharara, will resume production following a two-week halt, after a pipeline blockade ended yesterday. This is what an unnamed source from Libya’s oil industry told Reuters, Continue Reading
Is Egyptian Oil Set For A Rebound?
This week Egypt signed three major exploration deals with oil giants Royal Dutch Shell and Apex worth at least $81.4 million. The hefty international contracts will kickstart a large-scale oil Continue Reading
No change in status for Libyan oil production, OMV says
U.N. delegation tours Benghazi in early August. Special envoy Ghassan Salame says Libyans can’t understand why they’re power in an oil-rich country. Photo courtesy of the U.N. Support Mission in Continue Reading
OPEC Oil Output Slips From 2017 High On Renewed Libyan Outages
OPEC oil output has fallen this month by 170,000 barrels per day (bpd) from a 2017 high, a Reuters survey found, as renewed unrest cut supplies in Libya and other Continue Reading
Libya’s economic recovery hurt by attacks on oil centers
With a loss from missing oil revenue, the closure of Libyan oil fields by militants is thwarting economic progress in the country, an oil director said. The Libyan National Oil Continue Reading
Are Libyan Oil Production Gains History?
In addition to the negative repercussions of hurricane Harvey, which heavily impacted the Gulf of Mexico oil and gas production and petrochemical plants, global oil markets are facing disruptions from Continue Reading
Nigeria Pays $120 Million Demurrage Annually On Imported Fuel
The federal government is currently counting significant losses arising from demurrage paid by vessels which bring in imported petroleum products into the country. Available statistics shows that the country pays Continue Reading
What’s Next For Libya As Oil Production Slips
World Oil reports that an attack by an armed group caused the field’s pipeline to its nearest export terminal to close. The development sets Libya 330,000-bpd back on its goal Continue Reading
Libya’s Sharara, El Feel oilfields closed by pipeline shutdowns: sources
A local Libyan brigade has closed down two valves on a pipeline to Sharara oilfield, the country’s largest, to make demands for more fuel supplies and better economic conditions for Continue Reading
British foreign minister visits oil-rich Libya
A NATO member with a legacy of energy-related interests, the British government said it was working to ensure Libya evolves as a safe and stable partner. British Foreign Minister Boris Continue Reading
Libya’s Largest Oilfield Offline, Amid Uncertainty, ISIS Beheadings
Weighing in on oil price uncertainty, market watchers have been in a state of confusion over varying reports over the past three days as to the status of exports from Continue Reading
Shell starts new work in Nigeria’s Niger Delta
The Nigerian subsidiary of Royal Dutch Shell said Wednesday that hundreds of thousands of new barrels of product are expected from a project in the Niger Delta. Shell said it Continue Reading
Libya’s Biggest Oil Field Shut Down As Tensions Rise
The shutdown of Libya’s Sharara oilfield, the country’s largest field, has once again shown that expected production growth of several OPEC countries should not be taken for granted. Even though Continue Reading
Portugal Dominated Angola for Centuries. Now the Roles Are Reversed.
How the roles have reversed: The colonizer, some Portuguese contend, has been colonized. On the Portuguese coast of Cascais, where the nation’s royal court used to summer, a new 14-story Continue Reading
Libya’s Sharara oilfield shut by pipeline blockade: sources
Libya’s Sharara oilfield, the country’s largest, has been shut down since Saturday because of a pipeline blockade, industry sources and an engineer said. State-owned National Oil Corporation (NOC) declared force Continue Reading
Shell Loads Oil in Libya for the First Time in Five Years
Libya has also attracted Wintershall, Rosneft this year Nation is exempt from OPEC’s agreement to cut oil production Royal Dutch Shell Plc, the world’s largest oil trader, is said to Continue Reading
Libya Gets Better at Keeping Oil Flowing as Industry Stabilizes
Libya’s getting better at resolving stoppages in its oil industry, underpinning a growing perception that the OPEC member is closer to becoming a stable producer again. (Bloomberg) — Libya’s getting Continue Reading
Nigeria: Oil Production At $32 Per Barrel Too High – Kachikwu
The Minister of State for Petroleum Resources, Ibe Kachikwu, has decried the high cost of oil production at 32 dollars per barrel, saying it makes cost of Foreign Direct Investment Continue Reading
Nigeria: NNPC Cuts Production Cost to $23/Barrel
The Nigerian National Petroleum Corporation (NNPC) said yesterday that the country has saved a minimum of $3billion per annum by cutting the cost of crude oil production from $78 dollars Continue Reading
Libya Boosts Oil Output At Biggest Field
Crude oil output at Sharara–the biggest field in Libya, which is exempt from OPEC cuts–rose to 230,000 bpd on Tuesday—a 30,000 bpd increase just since Sunday, Bloomberg reports , citing Continue Reading
Libyan Oil Liberator Aims To Boost Russian Ties
In a sign that Libya’s powerful military is moving closer to Russia, Libyan National Army (LNA) commander Khalifa Haftar—the man responsible for recapturing the country’s oil ports and essentially restarting Continue Reading
Libya’s Sharara oilfield output dropped after security breaches: engineer
Production at Libya’s Sharara oilfield dropped to between 130,000 and 150,000 barrels per day (bpd), from about 280,000 bpd, because of recent security breaches, an engineer who works at the Continue Reading
Protesters drag Shell Niger Delta oil facility shutdown into fifth day
Protesters on Tuesday dragged the shutdown of a Shell crude oil facility in the Niger Delta into its fifth day, after storming the flow station demanding jobs and infrastructure development Continue Reading
Oil Prices Inch Higher As Libya Closes Crude Export Terminal
The Zueitina oil terminal in Libya has ceased loading cargos as port workers protest, demanding better working conditions, Bloomberg quoted the head of the workers’ union Merhi Abridan as saying. Continue Reading
Nigeria: We’ll Continue Operation Till You Empower Us, Ex-Illegal Oil Refiners Tell FG
Former illegal oil refiners in Rivers State have vowed to continue in their illegal dealings in petroleum products until the Federal Government provides them with empowerment. The artisanal refiners, who Continue Reading
Libya’s Oil Output Disrupted by Security Threats, Shut Terminal
Sharara oil field output said to drop to 200,000 barrels a day Zueitina terminal ceased loadings on Saturday: union chief Libya’s biggest oil field has reduced crude production by more Continue Reading
Nigerian Protesters Storm Shell Crude Oil Flow Station
Hundreds of Nigerians stormed on Friday a Shell-owned crude flow station that feeds the Bonny export terminal, protesting against lack of jobs and demanding infrastructure development, according to a Reuters Continue Reading
Oil prices fall further as Libyan field resumes production
Oil prices slipped further in Asian trading on Tuesday following a recovery in output at Libya’s largest oil field and as doubts about OPEC-led production cuts continue to weigh on Continue Reading
Oil prices fall further as Libyan field resumes production
Oil prices slipped further in Asian trading on Tuesday following a recovery in output at Libya’s largest oil field and as doubts about OPEC-led production cuts continue to weigh on Continue Reading
Libyan oil production issue resolved
Libyan oil disruption resolved and production is ramping up, a spokesperson for an energy company with a stake in operations said. File photo by cherezoff/Shutterstock Aug. 8 (UPI) — Matters Continue Reading
Libya’s Sharara oil field gradually shutting down: engineer
Libya’s Sharara oilfield, which has been producing 270,000 barrels a day (bpd), is gradually shutting down after the closure of a control room in the northern city of Zawiya, an Continue Reading
Niger Delta Legalizes Illicit Oil Refineries
The Nigerian government will make illicit refineries operating in the Niger Delta legal, and will even supply them with crude oil, the presidency announced yesterday. The legalization process will take Continue Reading
Nigeria’s NNPC in funding deals with foreign partners to develop oil fields
Nigerian National Petroleum Corp said Thursday it had agreed new funding arrangements with four foreign partners to develop new oil fields in the Niger Delta that will substantially increase Nigerian Continue Reading
A reporter’s journey through Tripoli: Long lines, kidnappings and murder
The line at the bank was two blocks long and Abdul bin Naji was once again praying for the doors to open. He desperately needed his $60. With Libya in Continue Reading
Nigeria: Security Still a Challenge in Niger Delta – Shell
Shell Petroleum Development Company has disclosed that its operation is still threatened by insecurity in the Niger Delta. The company indicated in its latest report that crude oil theft, sabotage Continue Reading
Nigeria: Government Vows to Halt Oil Production If Cost Remains High
International Oil Companies (IOCs) and their indigenous counterparts may soon be forced to halt operation, as the cost of producing a barrel of crude oil remains high. The Minister of Continue Reading
Nigeria: 3 Yrs of Low Oil Price and Nigeria’s Struggle for Survival
After trading at over U.S.$100 per barrel for some years, the price of oil began to tomble down around July, 2014, falling to below U.S.$30 per barrel. The collapse of Continue Reading
Nigeria: Boko Haram Attack On Nigeria Oil Team Killed Over 50
More than 50 people were killed in a Boko Haram ambush on an oil exploration team in northeast Nigeria earlier this week, multiple sources told AFP news agency on Thursday, Continue Reading
Nigerian media reports halt to some crude oil production
Nigerian media reported Thursday the federal government opted to halt crude oil exploration in part of the Niger Delta because of heightened security concerns. Militants struck a crude oil pipeline Continue Reading
Nigeria To Shake Off The Shackles Of Oil
Nigeria is now saying that “era of oil booms” may be over—for good. According to its national petroleum policy approved this week by the federal executive council, the country plans Continue Reading
Unlikely humanitarians – shippers returning to Libya face a tough moral dilemma
A surge in Libyan oil exports — production has increased sharply in the past few months, jumping to four-year highs of over 1 million b/d this month — is seeing Continue Reading
Militants hit Nigerian crude oil pipeline
Nigerian crude oil production was lowered following a militant tank on an oil pipeline, the state oil company said. File photo by vanhurck/Shutterstock July 25 (UPI) — A militant attack Continue Reading