Warri — After about three months of quiet, the Niger Delta Avengers resumed destruction of oil and gas infrastructure yesterday, when it bombed a Chevron-operated export pipeline at Escravos in Continue Reading
There has been mass sack of over 3,000 workers in Nigeria’s oil industry as the country’s economic recession bites harder, two unions have said. The two major unions in the Continue Reading
Oil firms operating in Nigeria have sacked about 3,000 workers, a labor union official said on Wednesday, calling on the government to file a protest with foreign oil operators. “The Continue Reading
Nigerian crude oil exports disrupted after the Niger Delta Avengers militant group attacked a pipeline operated by a subsidiary of Chevron. Photo by vanhurck/Shutterstock ABUJA, Nigeria, Oct. 25 (UPI) — Continue Reading
NDA Attack Nigeria has managed to increase its daily crude oil production to 1.9 million barrels , according to a tweet from the Petroleum Ministry. That’s still short of the Continue Reading
Nigeria’s offshore rig count from June till September has reduced to seven from 11 recorded as at end first half 2016, H1’16, indicating that four rigs were shut down in Continue Reading
Nigeria’s oil production has risen to 1.9 million b/d, the oil ministry said Tuesday, even as the government has begun moves for all-inclusive talks with Niger Delta leaders to end Continue Reading
NDA combatants The Nigerian presidency on Tuesday issued a statement affirming that Royal Dutch Shell will resume exports from the Forcados terminal in the Niger Delta region. “The Shell Director, Continue Reading
Oil exports have resumed at Forcados terminal, a key platform attacked by the Niger Delta Avengers in early 2016. The director of Shell Oil Company’s Global Upstream, Andrew Brown, confirmed Continue Reading
African commodity exporters risk a “disorderly” hit to their economies if they don’t adapt to the reality of low prices, said a senior official at the International Monetary Fund. Some Continue Reading
The Energy Committee of the Egyptian Parliament plans to contact its Ministry of Petroleum to get to the bottom of why the petroleum shipment from Aramco was suspended earlier this Continue Reading
China oil Angola overtook Russia as China’s biggest oil supplier last month, exporting 1.02 million barrels per day to the Asian country, up by 45.8 percent on the year, Reuters Continue Reading
The Kenyan government has been urged to consider a pipeline for oil exports to reap maximum benefit from the proposed early production. According to oil and gas experts, the basic Continue Reading
Libya’s oil production is 580,000 to 600,000 barrels per day (bpd) and officials are negotiating with western municipalities to return another 380,000 bpd output from those areas, Prime Minister Fayez Continue Reading
Libya’s Es Sider is set to resume exports in the coming weeks, with the first cargo potentially being lifted by Libya’s National Oil Corporation (NOC) during the first week of Continue Reading
Declining oil production and export volumes due to militancy and large-scale crude theft cut the Nigerian government’s gross revenue in September by about 12% from August to Naira 279.75 billion Continue Reading
There are too many risk factors at play to express any sense of real optimism about a full market return for Libya’s oil, the Royal Bank of Canada said. In Continue Reading
Libya has been teetering on the edge of economic collapse for a couple of years now, and may have just made a narrow escape, right when the World Bank issued Continue Reading
Official selling prices lowered for all published grades Nigeria seeking to regain market share lost during attacks Nigeria cut the price of every type of crude it sells in an Continue Reading
Nigeria, other states withholding payments to foreign airlines CEO says ‘not a good idea’ to carry on serving offender states Persian Gulf airline Emirates said it could scrap flights to Continue Reading
Libya Waha oil field Libya continues to ramp up its oil production, and resumed last week output at the major Waha oilfield, which raised its total crude output to 580,000 Continue Reading
Barkindo Rouhani At the 23rd World Energy Congress in Istanbul last week, talks regarding the OPEC crude oil production freeze took a surprising turn. Energy Minister Noureddine Boutarfa from Algeria Continue Reading
Libya oil Libya’s oil production has reached 551,000 barrels per day, according to National Oil Corporation chairman Mustafa Suna’a-Allah—a figure that brings Libya closer to its target of 900,000 barrels Continue Reading
The African continent has some of the world’s fastest-growing economies, but some are seeing hard times because they rely on crude oil. Since the crude oil price has now dipped Continue Reading
Inflation rate rose to 17.9% from 17.6% the previous month Interest rates kept at nine-year high of 14% in October Nigerian inflation accelerated for the 11th consecutive month in September Continue Reading
Italian energy company Eni said it was one step closer to its goal of pulling more oil from Angola with the pending launch of an offshore production facility. Eni said Continue Reading
Egypt has asked energy suppliers… Egypt is pushing big energy companies to give it a break on payments for fuel shipments after Saudi Arabia’s sudden decision in October to halt Continue Reading
Tensions over Syria sparked fears IMF loan would be delayed El-Sisi says oil product shipments are commercial matter Egyptian President Abdel-Fattah El-Sisi said Saudi Aramco’s decision to halt oil product Continue Reading
Libya’s oil production is set to reach a three-year high by December as fields restart and ports reopen after five years of armed conflict crippled sales. Output is now 540,000 Continue Reading
Suspension of Aramco aid confirmed by Egyptian Oil Ministry Egyptian pound plunges to record in black-market trading Egyptian stocks declined for a second day and the currency fell to a Continue Reading
Nigeria has filed a law suit against Eni, Chevron, Shell, Total and Petrobras accusing the oil majors of $12.7 billion in illegal oil exports. Per the Associated Press, these companies Continue Reading
Egypt received oil shipments from an unspecified source on Tuesday, according to Petroleum Ministry spokesperson Hamdy Abdelaziz, who said the move came after Saudi Aramco decided it would suspend delivery Continue Reading
Saudi Aramco informed Egypt’s state-held Egyptian General Petroleum Corporation (EGPC) that it would suspend the delivery of refined oil products to Egypt, Reuters reported on Monday, quoting a government official. Continue Reading
Nigerian banks all face a varying degree of uncertainty moving forward through the era of lower crude oil prices. Photo by vanhurck/Shutterstock The ability of Nigerian banks to face economic Continue Reading
According to the International Monetary Fund (IMF), the loss of most of Sudan’s oil export potential has exacerbated the crises in the country. Sudan as a united country started producing Continue Reading
Oil tanker Libya’s Zueitina oil terminal is bidding farewell to its first oil-filled tanker since late last year on Thursday, according to a port official cited by The Libyan Express. Continue Reading
A court in Chad told Exxon Mobil Corp. to pay a record fine of $74 billion, as well as $819 million in royalties it said the oil company owed to Continue Reading
The Minister of State for Petroleum, Ibe Kachikwu, has revealed that the country is close to securing a U.S.$4 billion loan from China. Nigeria says it expects to get as Continue Reading
Nigeria says it expects to get as much as $4 billion in investment facilities for oil industry infrastructure as a 40-member Chinese investment team arrives the country at the end Continue Reading
The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, December 30, 2015. N’DJAMENA ExxonMobil said on Continue Reading
A court in Chad told Exxon Mobil Corp. to pay a record fine of $74 billion, as well as $819 million in royalties it said the oil company owed to Continue Reading
Nigerian military forces OPEC may have given Nigeria a pass on the output cuts expected to be divvied out officially at the close of November, but it’s D-Day for the Continue Reading
Conflicts and a lack of business opportunities in the oil sector creating economic headwinds for Sudan, the International Monetary Fund said. File Photo by Debbie Hill/UPI Fragility in Sudan brought Continue Reading
The Nigerian government is demanding $406.75 million minimum from Shell Petroleum Development Company of Nigeria Limited and its surrogate Shell Western Supply & Trading Limited over alleged crude oil theft. Continue Reading
Chinese train driver Liu Ji (R) and his Ethiopian colleague Geto wave hands before the start of the first passenger train of the Addis Ababa-Djibouti railway in Addis Ababa, Ethiopia, Continue Reading
Low commodity prices, weak confidence drag down growth Nigeria’s economy forecast to contract 1.7% this year The International Monetary Fund has cut its 2017 economic growth forecasts for Africa’s two Continue Reading
Seven years ago, Ghana was about to become the next thriving economy, basking in the wealth generated by its newly discovered oil and gas. But that scenario never became a Continue Reading
Libya’s oil production rose to 500,000 barrels a day and will further advance by the end of the month as the holder of Africa’s largest crude reserves was exempt from Continue Reading
Libyan Oil Facilities In a sign that Libya may very soon add even more crude to the global oil glut, spokesman Omran al-Zwai told Reuters on Monday that Libya’s Arabian Continue Reading
Country’s output rose to 500,000 barrels a day: NOC official Production to further advance by end of month, Al-Awami says Libya’s oil production rose to 500,000 barrels a day and Continue Reading
