Libya’s Oil King Won’t Be Stopped By OPEC
Conflict-torn Libya, divided between rival factions in the east and the west, recently reached 1 million bpd of crude oil output—for the first time since 2013. The oil production recovery Continue Reading
Backing Of Workers, Communities Key To Libya’s Oil Revival
When the head of Libya’s state energy company visited Sharara oil field in early July, community leaders and workers crowded into a conference room to ask about jobs, training and Continue Reading
Nigeria Oil Thieves Keep a Lid on Output Even as Bombs Abate
The continual disruption blighting the impoverished delta region threatens plans to exceed 2 million barrels a day, according to Wood Mackenzie. (Bloomberg) — The Agbada 2 flow station should have Continue Reading
Libya’s NOC chief to attend OPEC, non-OPEC meeting: statement
The head of Libya’s National Oil Corporation (NOC) said on Tuesday he would lead a Libyan delegation to a meeting of OPEC and non-OPEC oil producers in St Petersburg, Russia Continue Reading
Egypt Sets Sights on Doubling Natural Gas Output by 2020
Three recently discovered major gas fields are expected to raise Egypt’s natural gas output by 50 percent in 2018 and 100 percent in 2020, the petroleum ministry said. “The fields Continue Reading
U.S. seeks to recover $144 million in Nigeria oil industry bribery case
The U.S. Justice Department on Friday filed a civil complaint seeking to recover about $144 million in assets obtained through paying bribes to a former Nigerian oil minister, the department Continue Reading
Libya gains balance Nigerian oil loss
Officials from a state oil company in Libya brief representatives from Norwegian energy company Statoil about the potential to bring production back to normal levels. Photo courtesy of the Libyan Continue Reading
Shell Nigeria Declares Force Majeure On Nigerian Light Oil Exports
Shell’s Nigerian unit declared a force majeure on Bonny Light crude oil exports effective 12:00 local time on Thursday, just two weeks after it had lifted a previous force majeure Continue Reading
Capping Libya, Nigeria Output Won’t Help Erase The Glut
The steady recovery of oil production in Libya and Nigeria in recent months has prompted OPEC to consider limiting the output of the two African producers that are currently exempt Continue Reading
Failure to address Africa’s rising population is not an option
Africa will dominate global population growth in the 21st century. Almost 1bn people, or 13 per cent of the world’s population, live in sub-Saharan Africa today. That number will more Continue Reading
Nigeria to put off deciding whether to join OPEC cuts, minister says
Nigeria supports OPEC’s efforts to stabilize oil prices, but it wants to wait before deciding whether join the cartel’s cuts in oil production, its oil minister said on Wednesday. “Hopefully, Continue Reading
More oil discovered off the coast of Senegal
More oil discovered in the deep waters off the coast of Senegal, which the companies involved say confirms its potential. Photo courtesy of Cairn Energy July 11 (UPI) — Oil Continue Reading
Algeria seen as African leader for renewable energy
General Electric highlights Algeria’s renewable energy potential during low-carbon conference for African economies. File photo by Stephen Shaver/UPI July 10 (UPI) — Algeria is ahead of the curve when it Continue Reading
At least 23 Egyptian soldiers killed in deadliest Sinai attack in years
At least 23 Egyptian soldiers were killed when two suicide car bombs tore through military checkpoints in North Sinai province on Friday, security sources said, in one of the bloodiest Continue Reading
More oil possible from Libya, Nigeria, a report finds
A report Thursday from oil pricing group Platts stated that more production is possible from OPEC members Libya and Nigeria, adding to supply-side concerns. A survey of production from members Continue Reading
Libya’s eastern commander declares victory in battle for Benghazi
FILE PHOTO: General Khalifa Haftar, commander in the Libyan National Army (LNA), leaves after a meeting with Russian Foreign Minister Sergei Lavrov in Moscow, Russia, November 29, 2016. REUTERS/Maxim Shemetov/File Continue Reading
East Libya forces say they’ve taken full control of Benghazi
Libyan forces in the country’s east say they have cleared the final remaining pockets of the city of Benghazi of Islamist militiamen and armed opponents. The head of the self-styled Continue Reading
Nigeria Only Oil Producing Country Struggling With Importation of Refined Products – Kachikwu
Minister of State for Petroleum Resources, Ibe Kachikwu Wednesday stated that the present oil that has remained the main stay of the nation’s economy may not last beyond 39 years. Continue Reading
Ghana Production To Average 200,000 BPD In 2017
Ghanaian oil production will average 200,000 barrels per day in 2017, despite a two-month shutdown at one of the small African nation’s major production facilities. The Jubilee floating, production, storage, Continue Reading
Nigeria Near 40-Billion-Barrel Oil Reserves Target
The plan by the Nigerian National Petroleum Corporation (NNPC) to grow the nation’s crude oil reserves to 40 billion barrels by the year 2020 received a major boost yesterday with Continue Reading
Nigeria: Neiti – Over U.S.$21.8 Billion Unaccounted for By NNPC
The Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that the Nigeria National Petroleum Corporation (NNPC) is supposed to remit over $21.8 billion billions to the Federation Account. The agency’s Continue Reading
Rosneft aims to export Egyptian natural gas
Russian energy company Rosneft is expected to start exporting natural gas from an Egyptian field considered to be among the world’s largest. Eni made its initial gas discovery in the Continue Reading
Nigerian Crude Exports to Hit 17-Month High in August
Nigerian crude exports will top 2 million barrels per day in August, reaching a 17-month high, according to new data compiled by Reuters on Thursday. Attacks by militants in the Continue Reading
Once Again, Tensions Are Rising In Nigeria’s Oil Sector
On 2nd May 2017, Nigeria’s House of Representatives rejected a motion requesting that the House compel international oil companies (IOCs) to relocate their headquarters to the Niger Delta. The initiative Continue Reading
Nigeria’s cut exemption at risk from oil revival
Upward production trend could be maintained Producer faces joining OPEC pact as output recovers August exports seen surging to 18-month high Security situation fragile despite fall in attacks Nigerian oil Continue Reading
China Aims For Market Share In African Refining Sector
On 22 March 2017, Sinopec agreed a deal to buy out Chevron’s downstream businesses in South Africa and Botswana, in China’s first major investment into the downstream oil industry in Continue Reading
Libya reviews oil production stimulus with Norway’s Statoil
After resolving issues with German energy company Wintershall, Libya’s state oil company said it reviewed raising production during talks with Norway’s Statoil. The Libyan National Oil Co. signed an agreement Continue Reading
Libya Oil Output Hits 885,000 Bpd
Libya is producing 885,000 barrels of crude oil daily after last week it reached an agreement with German Wintershall that will see the latter restart production at fields with a Continue Reading
OPEC Deal In Jeopardy As Libyan Oil Output Nears 1 Million Bpd
Libya—whose production has been hampered by civil unrest, political divides, and oil export terminals blockades over the past few years—is now targeting to further increase its oil output. Its most Continue Reading
Nigeria: Militants Give Northerners October 1 to Quit Niger Delta
A coalition of Niger Delta militant groups rose from a meeting in Port Harcourt, Rivers State yesterday ordering all northerners to quit the oil-rich region. The militants threatened to attack Continue Reading
Libya sees oil production gains ahead – UPI.com
An agreement with German energy company Wintershall means Libya has a better chance of meeting oil production goals, a national oil company said. The Libyan National Oil Co. said it Continue Reading
Libya’s NOC, Wintershall Agree To Resume 160,000 Bpd Output
Libya’s National Oil Corporation (NOC) said on Tuesday that it had reached an interim deal with Germany’s Wintershall to immediately resume production in concession areas and related fields, which would Continue Reading
Qatar Spat Spills Over To Libya’s Oil, Rekindles Political Divides
Just as Libya’s National Oil Corporation (NOC) is targeting to raise crude oil output to 1 million bpd by the end of July, the rivaling factions in the east and Continue Reading
Nigeria: Oil Output Hits Over 2.0m BPD As Shell Lifts Force Majeure On Forcados
Shell Petroleum Development Company Limited has officially lifted force majeure on exports of Nigeria’s Forcados crude oil, thus increasing the nation’s oil output by additional 200,000 barrels per day. Force Continue Reading
Nigeria To Return 20% Of OPEC Cuts To The Market
Shell lifts force majeure on Forcados oil in Nigeria Royal Dutch Shell (ticker: RDSA) lifted force majeure on exports of Nigeria’s Forcados oil grade, returning about 250 MBOPD to world Continue Reading
Libya’s Largest Oil Field Resumes Production
Libya’s largest oil field, El Sharara, has resumed production after workers had shuttered the 270,000-bpd field on Wednesday, protesting over the lack of medical treatment for a co-worker who had Continue Reading
Nigerian crude oil exports threaten market balance
The resumption of operations at a crude oil export terminal in Nigeria could lead to stronger output from the OPEC member, industry analysts say. File photo by Pavel Shlykov/Shutterstock June Continue Reading
Nigeria: Shell Reopens Forcados Terminal for Crude Export
The Shell Petroleum Development Company of Nigeria Ltd (SPDC) operator of the Shell/NNPC Joint Venture on Tuesday lifted the 17 months force majeure placed on Forcados Export Terminal following the Continue Reading
Nigeria: Militants Threaten to Resume Bombing of Oil Facilities in Delta
Warri — A militant group, New Delta Avengers, yesterday vowed to resume disruption of oil exploration activities in Delta State. The militants declared “Operation Cripple Oil and Gas Production’ saying Continue Reading
Nigeria’s Oil Theft Epidemic
Although crude oil theft has long been the subject of intense media attention in Nigeria, the downstream theft of hydrocarbons has remained under the radar. Despite this, downstream hydrocarbon theft Continue Reading
Nigeria’s Forcados Oil Comes Back in Fresh Blow to OPEC Curbs
Nigerian stream back after 15-month halt caused by sabotage Extra barrels equate to about a fifth of OPEC supply curbs Royal Dutch Shell Plc lifted restrictions on exports of a Continue Reading
Oil Bears Can’t Count on Libya as Expat Exodus Hinders Recovery
Output won’t rise much above 1 million barrels a day: WoodMac OMV says security must improve before it can send expats back The rapid increase in Libya’s oil production is Continue Reading
Libya’s Biggest Oil Field Boosts Production, Raising the Country’s Output
Sharara field production said to rise 25,000 barrels a day North African nation output at highest since October 2014 Libya’s biggest oil field boosted production, allowing the OPEC nation to Continue Reading
Nigeria Suspends Port Harcourt Refinery Concession On Transparency Grounds
The Nigerian Senate approved on a motion to suspend a concession agreement for the Port Harcourt refinery with a subsidiary of Eni on Tuesday because the deal allegedly lacked transparency. Continue Reading
OPEC Insiders Reel After Key Minister Is Fired During Their Meeting
Algerian oil minister learns of dismissal from news report Boutarfa was architect of OPEC, non-OPEC production cut deal As OPEC ministers gathered in Vienna Thursday to agree a nine-month extension Continue Reading
Nigeria Secures Second Exclusion From Opec Output Freeze
Nigeria again got members of the Organisation of Petroleum Exporting Countries (OPEC) and its other non-producers allies led by the Russian Federation, to exempt it from limiting the volume of Continue Reading
Libyan oil production has potential to cross 1 million barrels per day
Libya has the technical potential to produce as much as 1.2 million barrels of oil per day, though commercial and security issues interfere, an oil leader said. Mustafa Sanalla, the Continue Reading
Libya’s Oil Output Tops 800,000 Bpd For The First Time Since 2014
Libya’s crude oil production has exceeded 800,000 bpd for the first time since 2014, and could average up to 1.2 million bpd for the rest of this year if oil Continue Reading
Libya Adds to OPEC’s Burden as Output Reaches Highest Since 2014
Output at about 780,000 barrels a day on Sharara field boost Global producers signal extension in cuts amid oil price slump Libya is pumping the most oil since October 2014 Continue Reading
Libya Adds to OPEC’s Burden as Output Reaches Highest Since 2014
Output at about 780,000 barrels a day on Sharara field boost Global producers signal extension in cuts amid oil price slump Libya is pumping the most oil since October 2014 Continue Reading