Nigeria’s national electricity grid has collapsed for the second time in a month, the federal ministry of power said on Saturday, leaving the parts of the country it serves, including Continue Reading
The rising cost of crude oil will increase the cost of Nigeria’s gasoline subsidy by nearly ten times what it had originally budgeted, Nigeria’s President Muhammadu Buhari said in a Continue Reading
StalkEgypt, often the world’s top wheat buyer, saw a rise in imports of the grain from Russia in March despite supply and payment disruptions following its invasion of Ukraine that Continue Reading
Eni and Sonatrach CEOs have met with the Algerian Prime Minister. Eni and Sonatrach CEOs have met with the Algerian Prime Minister as part of initiatives set to strengthen the Continue Reading
A measure of Egypt’s non-oil economy dropped to the lowest in 21 months as inflationary pressures made worse by Russia’s invasion of Ukraine as well as a weaker currency led Continue Reading
The countrywide shortage of petrol continued to be felt on Monday despite the Government cautioning players in the market against hoarding the commodity. An immediate impact of the acute shortage Continue Reading
Queues at gas stations in Kenya grew longer over the weekend as delayed payments of subsidies meant to stabilize fuel prices led to gasoline shortages across the East African nation. Continue Reading
Nigeria has struggled to meet its production goals in recent years. With oil prices remaining above $100 per barrel, Nigeria is eager to ramp up its production. Shallow-water oil fields Continue Reading
Biden: Expect ‘Real’ Food Shortages Due to Ukraine War Egypt, the world’s biggest wheat buyer, is cutting back on purchases as two of its largest suppliers are embroiled in a Continue Reading
Akwa Ibom State government has dragged ExxonMobil to court over an attempt to sell off some of its assets without informing it as a critical partner about the intention to Continue Reading
The Federal Government has raised an alarm over the rising rate of crude oil theft in the Niger Delta, disclosing that about $3.27 billion worth of oil has been lost Continue Reading
From his job as a Cairo doorman, Mahmoud Farag earns 1,500 Egyptian pounds ($95) each month but it’s no longer enough to adequately feed his family of five. Food prices Continue Reading
Oil prices continued to crash, yesterday, as speculators abandoned the volatile market, while Russia claimed it wants the Iranian nuclear deal to be signed as soon as possible. This is Continue Reading
Italian oil major, Eni, has promised to lift the force majeure on the Ogoda/Brass 24 oil pipeline in Bayelsa State this week. Eni in an updated statement issued yesterday, said Continue Reading
The developments could deal a blow on Nigeria, which has plans to export oil in the neighbourhood of 1.5 million bpd in March. Shell Petroleum Development Company, the local unit Continue Reading
The leader of a new Libyan government has vowed to relocate from the country’s east to Tripoli within “days” to replace a rival administration, despite concerns that such a move Continue Reading
Aviation fuel marketers in the country have given insight into why they give priority to foreign airlines as against local airlines, saying since the foreign airlines pay for Jet A1 Continue Reading
BP and Eni have formed a new independent company named Azule Energy through the combination of the two companies’ Angolan businesses. BP and Eni have signed an agreement to form Continue Reading
Eni and BP have completed a deal to merge their oil and gas operations in Angola, the groups said on Friday, confirming what sources earlier exclusively told Reuters. The deal Continue Reading
With all attention on the war in Ukraine, Libyan oil is once again coming under threat as the prospect of a renewed civil war intensifies amid the amassing of militia Continue Reading
Domestic airlines are currently groaning under acute scarcity of aviation fuel, popularly called Jet A1, with only few operators getting supplies from marketers. This is just as the Chief Executive Continue Reading
Flares burn at an oil flow station in Idu, Rivers State, Nigeria. A governor in one of Nigeria’s crude producing states has declared “total war” against rampant oil theft and Continue Reading
Libya’s largest oilfields could see a resumption of production after what the Libyan National Oil Company (NOC) called the “illicit” closure of crude pumping valves late last week, with engineers Continue Reading
Some drivers say they spend nights at filling stations to get petrol. Fuel scarcity worsened across Nigeria weekend despite repeated assurances from the government that the crisis would soon be Continue Reading
European buyers are scouring the world as far as South Africa to procure coal as Russia’s invasion of Ukraine and the threat of more sanctions on Moscow have made Russian Continue Reading
Crude oil production from Libya’s largest oilfield, El Sharara, has been suspended after the Hamada valve was closed by an unknown person or persons. More than a quarter of Libya’s Continue Reading
Armed group closes pipeline valve connecting Sharara field Brega, Es Sider, Ras Lanuf, Zawiya, Zueitina ports closed Lack of storage could force NOC to cut oil output Libya’s crude production Continue Reading
Oil production in Usinsk, Russia (file photo). Sub-Saharan Africa is experiencing a record surge in fuel prices as the Russian invasion of Ukraine drives up already steep energy costs. Chaos Continue Reading
The ongoing shortage of Petroleum Motor Spirit, PMS, worsened in Lagos, Abuja, Ibadan, Enugu and other major cities across the country, yesterday, with motorists spending hours on queues at filling Continue Reading
ExxonMobil has reached an agreement to sell its equity interest in its subsidiary Mobil Producing Nigeria Unlimited to Seplat Energy. U.S. supermajor ExxonMobil has reached an agreement to sell its Continue Reading
Italy’s foreign minister said a visit to Algeria on Monday to seek an increase in gas supplies from the country had yielded good results, as Europe steps up its efforts Continue Reading
Highlights Move due to rise in global trade, healthier ship economics SCA working on canal expansion after the Ever Given incident in 2021 Suez Canal is a strategic route for Continue Reading
ExxonMobil logo. The multinational holds 40 per cent in the partnership through MPNU and NNPC the remainder. Seplat Energy has entered into a contract with a Nigerian unit of Texas-based Continue Reading
French energy company TotalEnergies has made a “massive” oil discovery on its block off the Namibian shore – another block in which the National Petroleum Corporation of Namibia (Namcor) owns Continue Reading
Nigeria suffered a drop of $3.7 billion in taxes and royalties from Shell Companies in the country as the oil major paid just $900 million in 2020, down from $4.6 Continue Reading
A London court will on Wednesday begin to hear a lawsuit launched by Nigeria against U.S. bank JP Morgan Chase, claiming more than $1.7 billion for its role in a Continue Reading
Oil rigs The International Monetary Fund (IMF) has once more advised Nigeria’s federal government to increase Value Added Tax (VAT), while also offering other fiscal measures that the country could Continue Reading
Fitch Solutions, an affiliate of global rating agency, Fitch, has predicted that Nigeria’s weak performance in the oil and gas sector may continue to slow down the country’s economy in Continue Reading
Encouraging well results; more exploration planned Partners still trying to determine resource potential Drilling activity in Namibia picking up steadily Energy major Shell has confirmed a light oil discovery at Continue Reading
A floating production, storage and offloading (FPSO) vessel exploded offshore Nigeria early on Wednesday with 10 crew members on board, the company operating the vessel said on Thursday. The supertanker-sized Continue Reading
The oil sector is likely to witness further contraction as escalating theft and underinvestment have become a clog in the wheel of progress of the industry. Experts lament the oil Continue Reading
Tom majored in International Business at Amsterdam’s Higher School of Economics, he is Oilprice.com’s Head of Operations While all recent oil exploration attention has been on Exxon’s ( massive string Continue Reading
Shell had resolved tax dispute with NNPC only last year Development a blow to Nigeria’s quest to raise oil output Shell has delayed expansion work at its Nigerian offshore Bonga Continue Reading
A floating production, storage, and offloading (FPSO) vessel has exploded, caught fire, and sunk at the Ukpokiti Terminal in Nigeria. A floating production, storage, and offloading (FPSO) vessel has exploded, Continue Reading
The Chairman of Heirs Holdings, Mr. Tony Elumelu, yesterday, disclosed that Nigeria lost $4 billion worth of crude oil to thieves in the first nine months of 2021. Among this, Continue Reading
Nigeria was once more unable to meet its oil production allocation by the Organisation of Petroleum Exporting Countries (OPEC) in January. The country was only able to pump 1.46 million Continue Reading
There appears to be no end in sight to the financial and resource hemorrhage in Nigeria’s oil and gas industry, with the country once more losing as much as 6.596 Continue Reading
Attempts by the Rivers State Governor Nyesom Wike to identify and shut all the illegal oil refineries in local communities of the state have unsettled many in the after areas, Continue Reading
Highlights North African country increases gas output in 2021 Platts Analytics says Algeria could provide 7 Bcm more gas Rising domestic demand, political crisis may crimp exports In 1981, while Continue Reading
The African Petroleum Producers Organisation (APPO) has said the Dangote oil refinery will cut the importation of petroleum productions in Africa by 36 per cent. APPO also said the success Continue Reading
