Oil streak continues offshore Senegal
After going eight-for-eight in oil discoveries off the coast of Senegal, Australian energy company FAR Ltd. said it expects a revision to reserve estimates. FAR Ltd. said it confirmed an Continue Reading
Libya’s National Oil Corp warns of new attempt at independent oil sales
Libya’s National Oil Corporation (NOC) said on Sunday that it had identified “illegal” efforts to sell crude oil without its approval and warned potential buyers not to enter into such Continue Reading
Nigeria: $12 Billion Trans-Sahara Gas Pipeline On Track – NNPC
The Nigerian National Petroleum Corporation, NNPC, yesterday, disclosed that it is committed to the Trans Saharan Gas Pipeline, TSGP, and that the project was still on track. According to a Continue Reading
Shell dumps assets onshore Gabon
Shell is leaving parts of Africa behind as part of a divestment streak that followed its merger with BG Group. File photo by Mohammad Kheirkhah/UPI. March 24 (UPI) — As Continue Reading
Shell Oil Spills Led to ‘Astonishingly High’ Pollution in Nigeria
Royal Dutch Shell PLC oil spills that haven’t been cleaned up for over eight years have contributed to “astonishingly high” levels of pollution in a Nigerian community, according to a Continue Reading
Libya sets goals for higher oil production
Libya aims to increase crude oil production at some of its fields by 55,000 barrels to the extent that conditions permit, the nation’s main oil company stated. Officials with Libya’s Continue Reading
Libyan oil output rises to 700,000 bpd after port fighting ends: NOC
Libya’s oil production has reached 700,000 barrels per day (bpd), the National Oil Corporation (NOC) said on Wednesday, recovering from a drop earlier this month caused by fighting at two Continue Reading
Algeria’s Sonatrach to Invest $50 Billion, Boost Crude Output
Algeria’s state-run energy producer plans to boost crude oil output by 14 percent in the four years to 2019 and invest billions of dollars in exploration projects. Sonatrach Group expects Continue Reading
Libya’s Oil Production Rebounds Back to Level Before Clashes
Libya’s oil production has climbed back to the level before clashes disrupted output three weeks ago and forced the OPEC nation’s two biggest oil ports to halt shipments. Output is Continue Reading
Why Libya Oil Revival Hinges on Fate of Two Ports
Libya’s ability to reclaim its role as a reliable supplier of crude depends on the fate of a pair of oil ports on the war-ravaged country’s coast. Es Sider and Ras Continue Reading
A New Start For Egypt And Saudi Arabia’s Weathered Relationship
Saudi oil shipments to Egypt have resumed after several months of political crisis between Cairo and Riyadh. Egyptian oil ministry sources stated on 19 March that the first two oil Continue Reading
China’s Sinopec buys first major African refinery in Chevron deal
China’s Sinopec ( 600028.SS ) ( 0386.HK ) said on Wednesday it has agreed to pay almost $1 billion for a 75 percent stake in Chevron Corp’s ( CVX.N ) Continue Reading
Why Libya Oil Revival Hinges on Fate of Two Ports
Libya’s ability to reclaim its role as a reliable supplier of crude depends on the fate of a pair of oil ports on the war-ravaged country’s coast. Es Sider and Ras Continue Reading
Nigeria orders developers in Niger Delta to resume work within 30 days
Nigeria has given contractors 30 days to resume delayed development projects in the Niger Delta oil region or face prosecution, the presidency said on Tuesday. The government has been trying Continue Reading
Libya Ports Poised to Ship Oil as Workers Back After Clashes
Libya’s major oil ports of Es Sider and Ras Lanuf are resuming operations and preparing to export crude after a two-week halt in shipments due to military clashes in the Continue Reading
Russia enlarges military footprint in Libya
Libyan Field Marshall Khalifa Haftar, a fiery commander in eastern Libya, has declared war against radical Islamists, including the Islamic State and al-Qaida, but is controversial for perceived iron-fist tactics. Continue Reading
Egypt moves from electricity deficit to sufficiency
The opening of three major power plants in March was the latest in Egypt’s efforts to end its electricity shortage crisis. “Huge work is being done in this country to Continue Reading
Who Gets Control Of Libya’s Oil As The Guns Go Silent?
The Libyan National Oil Corporation expects to soon regain control over the Es Sider and Ras Lanuf oil terminals, which were the point of clashes between the Libyan National Army Continue Reading
Libya Ports Poised to Ship Oil as Workers Back After Clashes
Libya’s major oil ports of Es Sider and Ras Lanuf are resuming operations and preparing to export crude after a two-week halt in shipments due to military clashes in the Continue Reading
Shrinking GDP, Surging Prices to Keep Nigerian Rates on Hold
Faced with a contracting economy, surging inflation and a rigid exchange rate, Nigeria’s central bank will have little choice but to keep its key interest rate unchanged on Tuesday. The Continue Reading
Exclusive: Libya’s NOC says expects to regain Es Sider, Ras Lanuf oil ports
Libya’s National Oil Corporation (NOC) has been coordinating with military forces from eastern Libya and has “no reason to believe” it will not regain control of the Es Sider and Continue Reading
Russia Urges Calm After Libya Strongman It Backs Takes Oil Ports
Russia urged restraint after a powerful Libyan military commander that it supports regained control of key oil facilities taken by forces loyal to the United Nations-backed government. “We urge all Continue Reading
Nigeria: Oil Companies Urged to Relocate Bases
Captains of industry and commerce have endorsed calls by the Nigerian government for oil companies to relocate their headquarters to their areas of operations. The Port Harcourt Chamber of Commerce, Continue Reading
Oil production ongoing in Libya, OMV says
A spokesperson for Austrian energy company OMV said oil production in Libya is ongoing and the opportunity for gains is expected this year. Libya is one of the members of Continue Reading
Saudi Aramco to resume oil product shipments to Egypt soon
Saudi Arabian state oil company Aramco will resume oil product shipments to Egypt some six months after halting them suddenly, the Egyptian Petroleum Ministry said on Wednesday, signaling a potential Continue Reading
Total starts production in deep Congolese waters
French supermajor Total said it started production at a deep-water prospect off the Congolese coast with a production capacity of 100,000 barrels per day. “Moho Nord is the biggest oil Continue Reading
Libya’s eastern parliament speaker says Russia offered aid
The speaker of the parliament based in the eastern part of Libya says Russia has promised military assistance. House of Representatives President Agila Saleh told Russia’s state RIA Novosti news Continue Reading
Libya Crude Oil Output Said to Fall 11% on Field, Port Closings
Libya’s crude output dropped 11 percent as clashes among rival armed groups over the last 10 days led to the closing of some of the OPEC nation’s biggest oil export Continue Reading
Libyan Oil May Be Slipping Out Of Putin’s Reach
Last Friday, news broke that the Benghazi Defense Brigades seized control of two major Libyan ports on the “Oil Crescent,” posing a real challenge to Khalifa Haftar and Russia’s grip Continue Reading
Nigeria’s Proposed Sale of Oft-Bombed Oil Assets Won’t Be Easy
For sale: stakes in oil fields. Bids from world class energy companies preferred. Pipelines and terminals associated with the deposits only blown up about a dozen times in the past Continue Reading
Tanker to Libya’s Biggest Oil Port Diverted to Avoid Conflict
An oil tanker that was scheduled to load crude at Libya’s Es Sider port changed its course to a different terminal in the west of the country as clashes in Continue Reading
ExxonMobil to acquire interest in Mozambique Area 4 from Eni
ExxonMobil Corp. and Eni SPA have signed a sale and purchase agreement to enable ExxonMobil to acquire from Eni a 25% indirect interest in the natural gas-rich Area 4 block Continue Reading
Nigeria: President To Return After Time Abroad For Treatment
Nigerian President Muhammadu Buhari will return to Nigeria on March 10, according to an official statement by the president’s office, Reuters reported. Buhari has been out of the country in Continue Reading
Libya’s Waha Oil May Halt Production as Clashes Keep Ports Shut
Production from Waha Oil Co., a venture between Libya’s state oil company and foreign partners, may be suspended Wednesday as clashes in the country’s eastern oil region keep the main Continue Reading
Oil pulled higher by Libyan unrest
Oil prices moved higher early Tuesday morning as threats to Libyan security balanced against reports that U.S. oil production gains could slow momentum. NATO allies expressed concern that fighting in Continue Reading
NATO allies fret over security of Libya’s oil
The escalation of violence in and around the oil installations of Libya are cause for growing international concern, a joint statement from NATO allies said. A joint statement from the Continue Reading
Libya Crude Output Edges Higher After Clashes at Main Oil Ports
Libya’s crude production made a partial recovery after clashes between rival armed groups led to a halt in shipments from two of the OPEC member’s biggest oil ports. Output rose on Tuesday to Continue Reading
More oil progress offshore Senegal
A Scottish energy company focused on reserves offshore Africa said it’s assessing data from a reservoir estimated to hold more than 2 billion barrels of oil. Cairn Energy, which has Continue Reading
Nigeria: Shell Shuts Down Bonga, Reduces Nigeria Oil Production
Shell Nigeria Exploration and Production Company (SNEPCo) has halted production at Nigeria’s Bonga oil field. The exercise, which commenced on March 4, was put in place for maintenance that will Continue Reading
Libya Oil Output Falls as Fresh Clashes Force Ports to Shut
Libya’s crude output dropped after clashes forced two of the country’s biggest oil ports to shut down, threatening the OPEC member’s efforts to revive the production of its most important Continue Reading
Libya militias who seized oil terminals aim to take Benghazi
Libyan militias that occupied two key oil terminals last week said Monday they intend to take the eastern city of Benghazi and unseat Field Marshal Khalifa Hifter, who controls the Continue Reading
Nigeria: Senate Investigates Widespread Fraud in Oil & Gas Industry
The Joint Senate Committee on Petroleum (Downstream, Upstream) and Gas at the weekend said it had uncovered a large-scale fraud of about N10 trillion allegedly perpetrated by officials of the Continue Reading
Fighting for Libya’s Oil Raises Questions Over Eastern Strongman
Libya’s slow-burn conflict swept into two of its most important oil facilities late last week, shutting ports and triggering a drop in crude output in the OPEC nation. The attacks Continue Reading
Ghana Mulls Doubling Capacity of Planned Second Oil Refinery
The operator of Ghana’s sole oil refinery said the planned capacity of a proposed second plant could be doubled as the West African nation targets exports to neighboring countries. Tema Continue Reading
Libya’s Biggest Oil Port Seized in Blow to Production Surge
Libya’s biggest oil port was seized by an armed group, dealing a blow to the North African country as it seeks to revive production of its most important commodity. Brent Continue Reading
Libya Oil Output Falls as Fresh Clashes Force Ports to Shut
Libya’s crude output dropped after clashes forced two of the country’s biggest oil ports to shut down, threatening the OPEC member’s efforts to revive the production of its most important Continue Reading
Armed faction enters major Libyan oil port
An armed faction entered a major Libyan oil terminal and a nearby airport on Friday, after attacking forces that have controlled the terminals since September, officials and residents said. The Continue Reading
Libya’s Biggest Oil Port Seized in Blow to Production Surge
Libya’s biggest oil port was seized by an armed group, dealing a blow to the North African country as it seeks to revive production of its most important commodity. Brent Continue Reading
Nigeria Charges Shell, Eni With Corruption Over Oil License
Nigeria’s anti-graft agency filed new charges against Royal Dutch Shell Plc and Eni SpA , alleging the companies “corruptly” paid $801 million in 2011 when acquiring an offshore oil field. Continue Reading
South Africa: The Next Hot Spot For Offshore Oil Exploration
South Africa’s land is known for its resources such as platinum, gold, diamonds, copper and coal. But its waters may be hiding future giant oil and gas discoveries potentially capable Continue Reading