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
The Nigerian government, Wednesday, said it has witnessed no pipeline vandalism arising from militant activities in the Niger Delta in the past three months. The Minister of State for Petroleum Continue Reading
Libya’s ongoing civil war, which has resulted in a hothouse environment for extremists, Da’esh supporters and regional coalitions, could be heading to a slowdown in activity. Arab media sources claim Continue Reading
A rift has opened between Libya’s U.N.-backed government and its powerful National Oil Corporation (NOC), threatening the fractured country’s political cohesion and its nascent petroleum-industry recovery. On Monday, NOC Chairman Continue Reading
Libya’s oil production has risen above 760,000 barrels per day (bpd), its highest since December 2014, the National Oil Corporation (NOC) said on Monday. Chairman Mustafa Sanalla said in a Continue Reading
South Africa, the continent’s second largest economy, with the most organized business and financial sector in the region, has had its share of electricity related issues culminating in a spate Continue Reading
The Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed that it has started the processes of a comprehensive independent audit of the oil and gas sector, as well as revenues Continue Reading
OPEC member pumping more than 700,000 barrels a day: Alaokali Biggest field Sharara at 216,400 barrels daily after restart Libya’s crude production rebounded to more than 700,000 barrels a day Continue Reading
Libya’s national oil company said there may be long-standing agreements in place to keep the taps open in the company to the tune of 200,000 barrels per day. Crude oil Continue Reading
A rift has opened between Libya’s U.N.-backed government and its powerful National Oil Co., threatening the fractured country’s political cohesion and its nascent petroleum-industry recovery. Libya’s oil-industry chief, Mustafa Sanallah, Continue Reading
With a reshuffling in the front office underway, Tullow Oil said Wednesday its production offshore West Africa for the first quarter met expectations. Tullow CEO Aidan Heavey is handing the Continue Reading
Nigeria detained a vessel with crew members from countries including Pakistan, Indonesia and Ukraine for alleged theft of crude from a facility owned by Royal Dutch Shell Plc, the navy Continue Reading
Libya’s biggest oil field, Sharara, which has been offline for most of the past month, is set to reopen after the Petroleum Facilities Guard (PFG) reached an agreement with protesters Continue Reading
The Human and Environmental Development Agenda, HEDA Resource Centre, has petitioned Vice President Yemi Osinbajo, requesting the representation of Nigeria as an aggrieved party in the hearing of the Milan Continue Reading
Central bank Governor Emefiele said to tolerate naira dropping Naira forward contracts jump to highest levels since March Nigeria’s central bank will let the market determine the naira’s rate in Continue Reading
El-Feel deposit has yet to resume output due to power outage Field known also as Elephant has 80,000 barrel-a-day capacity Libya’s El-Feel oil field, operated by a venture between Eni Continue Reading
The El-Feel oil field in western Libya—operated by a joint venture between Italy’s Eni and Libya’s National Oil Corporation (NOC)—reopened on Wednesday after two years, and expects to start pumping Continue Reading
South Sudan’s vulnerable financial state is making the civil-war-torn state easy prey for opportunistic oil and gas companies that could be offering Juba a fraction of the energy profits they Continue Reading
This Thursday a Milan court is to decide whether to go ahead with criminal proceedings against the oil giant Shell and its Italian partner ENI in connection with the purchase Continue Reading
The latest developments in a multi-billion dollar corruption scandal show how the net is closing in on oil bosses who allow shady deals to happen on their watch – and Continue Reading
Russia has an opportunity to foster a better trade relationship with Senegal, an emerging West African oil producer, the Russian foreign minister said. Russian Foreign Minister Sergei Lavrov hosted his Continue Reading
Bonga, Forcados facilities will restart by July after work OPEC must extend cutbacks to keep prices above $50 a barrel Nigeria will revive oil production this summer as it completes Continue Reading
The question of a Russian military base being set up on Libyan territory is not being discussed, Russia’s RIA news agency quoted Libyan military commander Khalifa Haftar as saying on Continue Reading
Production cut to 490,000 barrels a day, person familiar says Country’s biggest field Sharara stopped pumping on April 9 Libya’s oil production fell by 30 percent to the lowest level Continue Reading
The closure of one of the largest oil fields in Libya means a loss of about $9.8 million and the outage of huge volumes of oil, a national oil company Continue Reading
Just a day after production at Libya’s largest oil field was suspended , the National Oil Corporation told local media that another field, Wafa, has also stopped producing. This could Continue Reading
Transaction under investigation amid allegations of corruption Company previously said it was unaware minister would be paid Royal Dutch Shell Plc said it knew some of the $1.1 billion paid Continue Reading
Libya’s biggest oil field was said to stop producing, just one week after it reopened, the latest in a series of disruptions in the country’s crude output. The pipeline carrying Continue Reading
Libya fits in well with a strategy of capitalizing on mature onshore oil basins and service to European energy needs, the head of Austria’s OMV said. Representatives from the National Continue Reading
Former President Goodluck Jonathan probably received as much as $200 million to approve the controversial $1.3 billion sale of OPL 245 oil field, Italian prosecutors said in court documents. The Continue Reading
After repeated denials in various countries, Anglo-Dutch oil giant, Royal Dutch Shell, on Monday finally admitted it had foreknowledge that the $1.3 billion itself and ENI paid to Nigerian government Continue Reading
Oil majors Royal Dutch Shell and Eni reiterated on Monday that neither they nor their personnel had been involved in any wrongdoing in Nigeria, including improper payments to Nigerian officials. Continue Reading
Libya’s biggest oil field was said to stop producing, just one week after it reopened, the latest in a series of disruptions in the country’s crude output. The pipeline carrying Continue Reading
Nigerian President Muhammadu Buhari’s nascent campaign to negotiate with separatists in the oil-rich Niger Delta has proven to be more effective in restoring oil output to pre-conflict highs than his Continue Reading
West African explorer FAR Ltd. said it raised substantial capital to fund its development programs in the emerging oil basin offshore Senegal. FAR placed 1 billion shares to institutional and Continue Reading
Nigeria’s crude oil and condensate production averaged 1.676 million b/d in March, a fall of over 200,000 b/d from the previous month, the country’s petroleum ministry said Tuesday. The ministry Continue Reading
Crude-oil futures fell on Monday, snapping a four-session winning streak, after the resolution of output disruptions in Libya brought the recent rally in prices to a halt. U.S. crude futures Continue Reading
Libya’s crude production rebounded to about 660,000 barrels a day as the OPEC nation’s biggest oil field resumed output after about a week of disruption. Force majeure on the Zawiya Continue Reading
Attacks on foreigners working on South Sudan’s oil and gas facilities serve as a warning for multinationals to stay away from the new country’s national resources, just as oil prices Continue Reading
A memorandum of understanding with GE Oil & Gas could help lift more oil out of a Nigerian basin, regional exploration company Lekoil said. Lekoil, a company focused on West Continue Reading
The main rebel group in South Sudan is threatening to disrupt oil production in the country, a day after it released three foreign oil workers it kidnapped earlier in the Continue Reading
Prospects for expanding the footprint in emerging oil basins off the Senegalese and Gambian coasts has increased through a Chinese partnership, FAR Ltd. said. FAR Ltd., an Australian company with Continue Reading
It’s been a rollercoaster ride for Libya’s oil sector the last few months . With production from this important OPEC player swinging wildly with unstable politics in the country. And Continue Reading
Egypt expects to cut the $3.5 billion euros it owes to international oil companies by around half in coming weeks, the Egyptian oil minister said on Wednesday. “We have made Continue Reading
Libya’s crude production dropped to about 500,000 barrels a day, the lowest since September, as exports from the nation’s second-largest terminal at Zawiya were disrupted. The OPEC nation’s output has Continue Reading
Libya’s National Oil Corp, or NOC, has become embroiled in a new political battle as it seeks to defend its role as both policy setter and regulator in the oil Continue Reading
Libya’s biggest oil field was said to stop producing, leading to a 20 percent decline in crude output from the country with Africa’s largest reserves. The OPEC nation’s output dropped Continue Reading
A general view of the El Sharara oilfield, Libya December 3, 2014. Oil production from the western Libyan fields of Sharara and Wafa has been blocked by armed protesters, reducing Continue Reading
Nigeria’s Oranto Petroleum International Ltd. plans to bet half a billion dollars that Africa’s newest nation can end a three-year civil war and create the conditions to revive its oil Continue Reading
Libya’s biggest oil terminal loads its first tanker since fighting between armed groups earlier this month halted shipments from two ports in the country with Africa’s largest crude reserves. The Continue Reading
