Nigeria Reclaims Africa’s Top Oil Producer Spot
Nigeria may have reclaimed its position as Africa’s top oil producer which it lost to fellow African oil producer, Angola earlier in March 2016. According to the December 2016 Monthly Continue Reading
Nigeria: Fuel Scarcity Looms As Nation’s Marketers Fail to Repay Loans
The inability of petroleum marketers to pay or service banks loans in the last two years is threatening further importation and could worsen the financial position of banks. The marketers Continue Reading
Total Pays $900 Million for Control of Ugandan Oil Project
An oil exploration tower in Lake Albert, Uganda. Total SA agreed to buy a stake in a project in Uganda from Tullow Oil Plc for $900 million as a recovery Continue Reading
Nigeria remains upbeat over tentative output recovery
Despite intractable militancy and ongoing theft from pipelines which has hobbled its oil production, Nigeria’s government remains resolutely upbeat over its plans to turn things around in 2017. Nigeria, which Continue Reading
Shell battles Nigerian communities in high-stakes London lawsuit
A court in London will decide in coming weeks whether Royal Dutch Shell can face trial in the UK over oil spill allegations in Nigeria, a decision some legal experts Continue Reading
Libya To Re-Open Last Major Oil Export Terminal
Libya is about to re-open the last major oil terminal that has been shut due to factions fighting in a move that would allow it to further increase oil exports, Continue Reading
Shell Pipeline Fire Threatens to Deepen Nigerian Oil Output Drop
Royal Dutch Shell Plc shut the Trans Niger oil pipeline after a fire, threatening to worsen a drop in Nigerian output due to unplanned disruptions. The line can transport about Continue Reading
Libya Oil-Export Terminal Said to Re-Open as Output Rises
Libya is re-opening its last major oil-export terminal that shut amid the conflict hobbling output in the country with Africa’s largest crude reserves. The Zawiya terminal is preparing to resume Continue Reading
Nigeria Targets 2.6 Million Barrels Per Day Refining Capacity
Nigeria may be on the path to becoming self-sufficient in the production of petroleum products, as the Federal Government expects to increase the country’s refining capacity from 445,000 barrels per Continue Reading
Dozens of companies land Nigerian crude oil contracts
Nigeria’s state oil company said more than 30 companies, with nearly half of those foreign entities, have received one-year term contracts for crude oil. The Nigerian National Petroleum Corp. awarded Continue Reading
Nigerian crude oil exports to edge higher in February
Nigeria’s crude oil exports are on track to edge higher in February, due in part to deferred January cargoes, loading program compiled by Reuters showed on Wednesday. The loading program Continue Reading
Libya’s Oil Revival Gathers Pace to Highlight Risks on OPEC Deal
Libya, the holder of Africa’s biggest crude reserves, is ramping up output from its biggest oil field again after two years of internal conflict, the latest reminder of just how Continue Reading
Economy strained for OPEC-member Angola
The steady decline in crude oil prices from 2014 peaks above $100 per barrel has left lasting impacts on the economy of OPEC-member Angola, the International Monetary Fund said. Angola Continue Reading
More oil possible from Nigeria
LONDON, Dec. 30 (UPI) — A minority player in OPEC-member Nigeria said it was able to stimulate crude oil production at one of its operating areas by about 15 percent. Continue Reading
The Two Nations Racing To Host The Next Oil And Gas Rush
Bit of a quiet week for major resource news. But several small items are suggesting some potentially explosive developments coming over the next several months. One of those comes in Continue Reading
Eni gains stronger position in Egypt
Italian energy company Eni said it continued its track record of success in the Mediterranean Sea by securing two new agreements in an Egyptian auction. Eni secured the bulk of Continue Reading
Algeria’s Sonatrach to Boost Output 20% With New Projects
Algeria’s state energy producer Sonatrach Group plans to increase output of natural gas and crude oil by 20 percent in the next four years as new projects start up, Salah Continue Reading
Operations resuming at Libya’s Sharara oil field after pipeline reopens: field official
Operations at the major Libyan oilfield of Sharara were gradually resuming on Wednesday after the lifting of a two-year blockade on a pipeline leading from the field, a senior official Continue Reading
Libya National Oil Co. Says Pipelines Reopened in the Country’s West
Libya’s National Oil Company said Tuesday long shuttered pipelines had reopened in the country’s west that could supply 270,000 barrels a day of crude oil in the next three months—almost Continue Reading
Libya Reopens Oil Fields as Biggest Terminal Is Set to Load
Libya reopened two of its biggest oil fields and is set to load its first crude cargo in two years from its largest export terminal as the war-torn country pursues Continue Reading
Why Oil Markets Don’t Have To Worry About Libya
In the wake of recent developments, Libya’s National Oil Corporation now has full control over all its oilfields and export terminals. After the recapture of the Eastern region export terminals Continue Reading
Ghana to Miss Deficit Target as Crude Delays Weigh on Income
Ghana will miss its budget deficit target for 2016 because of disappointing oil output and higher-than-expected spending on elections and energy sector debts, Finance Minister Seth Terkper said. West Africa’s Continue Reading
Oil Extends Advance Above $52 as Libyan Output Comeback Stalls
Oil extended gains above $52 a barrel as a planned production boost from Libya stalled amid continuing tension in the OPEC member that’s exempt from output cuts. Futures climbed as Continue Reading
Tanker docks at Libya’s Es Sider port to load first crude cargo in two years: officials
An oil tanker docked at the east Libyan port of Es Sider on Monday to load the first cargo of crude since the terminal reopened following a two-year closure, port Continue Reading
Libya’s ‘Elephant,’ Sharara Oil Fields Restart Said Halted
Libyan oil-facility guards prevented two of the country’s biggest fields from resuming production, days after the National Oil Corp. reached an agreement to restart operations there to boost output in Continue Reading
Libya Halts Relaunch of Oil Production at Western Fields
Libya’s National Oil Co. has for now stopped the relaunch of production at oil fields in the country’s west, Libyan officials said Sunday, after a militia threatened to block the Continue Reading
BP to Invest $1 Billion in Gas Field Off Coast of Northwest Africa
The deal also makes BP the operator of the project, giving the British oil giant… BP PLC will invest nearly $1 billion in a vast natural gas field off the Continue Reading
Oil Eases Off Highs on Libyan Production
Oil prices were steady Friday, under pressure from potential production increases in Libya where operations have restarted at two key oil fields. Brent crude, the global oil benchmark, edged down Continue Reading
Libya’s Biggest Oil Port, Field Said Poised to Reopen This Week
Libya is preparing this week to reopen two of its biggest oil fields and ship the first cargo from its largest export terminal in two years, as the war-torn OPEC Continue Reading
Nigeria Aims For “Lasting Peace” As Oil Output Hits 1.8 Million Bpd
Nigeria is producing around 1.8 million barrels of oil daily, up from an average 1.63 million bpd in the third quarter of the year. The current rate of production is Continue Reading
Libya’s Biggest Oil Port, Field Said Poised to Reopen This Week
Libya is preparing this week to reopen two of its biggest oil fields and ship the first cargo from its largest export terminal in two years, as the war-torn OPEC Continue Reading
Libya Restarts Operations at Key Western Oil Fields
Shown, the El Sharara oil field in Libya in December 2014, where production has yet… Operations have restarted at two key oil fields and a connected pipeline in Western Libya Continue Reading
Post OPEC Deal: Nigeria Plans To Increase Oil Output By 500,000 Bpd
Nigerian President Muhammadu Buhari is eyeing an increase to his country’s oil production to 2.2 million bpd , the volume it had pumped before militant attacks in the Niger Delta Continue Reading
Nigeria Cuts 2017 Growth Forecast to 2.5%, Minister Says
Nigeria cut its 2017 growth forecast by half a percentage point as the ongoing economic slump slows output, the Budget and National Planning Minister Udo Udoma said. West Africa’s biggest Continue Reading
Eni to sell 30 percent stake in Egyptian gas field to Rosneft
Italian energy company Eni has agreed to sell a 30 percent stake in a giant Egyptian offshore gas field to Russia’s Rosneft for $1.575 billion, pressing ahead with asset sales Continue Reading
As The Power Struggle Endures, Libya Eyes 900,000 Bpd Oil Output
Libya will be increasing oil output by a third in the near future – bringing national production to 900,000 barrels per day, according to spokesperson Ashraf Ali of the Presidential Continue Reading
Ghana: Airlines Panic As Nigeria, Ghana Run Out of Aviation Fuel
Foreign airlines operating in Nigeria are panicking over current fuel shortage on the West African coast that may affect their operations especially as the Yuletide season beckons. While Nigeria, which Continue Reading
Libyan forces taking last few buildings from Islamic State in Sirte: officials
Libyan forces said on Tuesday they were securing the last few buildings where Islamic State militants had been making a final stand in their former North African stronghold of Sirte. Continue Reading
Haftar’s Forces Take Control Of Ras Lanuf, Es Sider Oil Ports In Libya
Libya oil General Khalifa Haftar, chief of the Libyan National Army (LNA), and his forces have taken control over two of the four export terminals in the Oil Crescent, according Continue Reading
Hunger Stalks World’s Youngest Capital as War Nears 4th Year
As South Sudanese homemaker Sarah Kiden stirs a boiling pan of lentils, she remembers when her five children could count on more than one meal a day. For the first Continue Reading
OPEC Target Gets Harder as African Members Boost November Output
OPEC’s mission to implement last week’s historic deal to curb production for the first time in eight years just got a little bit harder after three of its African members Continue Reading
Nigeria, Morocco wealth funds sign pipeline deal to bring natural gas to Europe
A new pipeline project to bring Nigerian gas through Africa to Europe has been launched by the sovereign wealth funds of Nigeria and Morocco, the latest attempt to link Nigeria’s Continue Reading
Liberia: Exxon Set to Drill – Are Liberians Ready for Jobs in Oil Industry?
Liberia’s oil industry is holding its breath waiting for the outcome of ExxonMobil exploration efforts by the end of the year. With global oil prices low, and little interest by Continue Reading
Shell Discovers 500 Billion Cubic Feet of Natural Gas in Egypt’s Western Desert
New natural gas discoveries were made earlier this month in Egypt’s western desert, announced Royal Dutch Shell plc, commonly known as Shell. The discoveries were made in Alam El-Shawish concession Continue Reading
Nigeria: How Nigeria Can Benefit From Opec’s 1.2 Million Barrels Oil Cut
Following OPEC’s decision on Wednesday, Nigeria can, in the next one year starting January 1, 2017, pursue programmes aimed at increasing its crude oil production capacity and growing national reserves Continue Reading
Nigerian Cabinet Approves 20% Increase in Spending for 2017
Nigeria’s cabinet approved a 20 percent increase in spending proposals next year, taking the figure to 7.3 trillion naira ($23.3 billion), according to the Budget and Planning Ministry. President Muhammadu Continue Reading
Senegal primed as one of the next big oil players
Companies working to exploit frontier oil reserves are working to submit field development plans as quickly as possible, a top executive said. Africa-focused FAR Ltd. said the SNE field off Continue Reading
East Africa: Work On Tanzania-Uganda Pipeline Starts
The work towards the construction of a crude oil pipeline between Uganda and Tanzania is officially on, with project the developers inviting reputable contractors to undertake a social and resettlement Continue Reading
Nigeria, Two Others Get Special Concessions As Opec Agrees to Cut Oil Output
Nigeria, Iran and Libya got special concessions Wednesday, as the Organisation of Petroleum Exporting Countries, OPEC, reached the much-sought consensus to cut oil production by 1.2 million barrels per day, Continue Reading
Nigeria: Professionals Bombing Oil Installations – Buhari
President Muhammadu Buhari says the sophistication involved in the bombings of oil and gas installations in the Niger Delta indicates that those behind it are not ordinary Nigerians, but professionals. Continue Reading