Lagos — The World Bank has called on the federal government to end what it described as ‘its expensive fuel subsidy regime’ within three to six months. The Global lender Continue Reading
NINETEEN days after the spill at the Santa Barbara Well 1 in Oil Mining Lease, OML 29 operated by Aiteo Eastern Exploration and Production Company, AEEPCO, in the Nembe creek, Continue Reading
Fuel pump. The government says it will target 30 to 40 million people, but it will depend on resources. The federal government will remove fuel subsidy and replace it with Continue Reading
Port Harcourt — Host communities of oil well, Obiavu-5 (OB5), operated by the Nigeria Agip Oil Company, (NAOC), in Omoku, Ogba/Egbema/Ndoni Local Government Area of Rivers State, are now living Continue Reading
The evidence is clear that fossil fuel’s shift in the factory is nearing clock-out time. … starved of oil receipts, as presently structured, the economy will hurt. However, the catch Continue Reading
Highlights Disruptions, declines, and underinvestment dominate oil sector Country’s key oil infrastructure hamstrung by operational issues Rising security threats add to anxiety among oil companies Nigeria’s oil production outlook is Continue Reading
The organization said slow FX reforms and uncertainties regarding the ability to repatriate foreign funds have discouraged new capital inflows. The International Monetary Fund (IMF) has advised the Nigerian government Continue Reading
Gaddafi’s son. General Haftar. Libya’s former interior minister Fathi Bashagha. Former Prime Minister Ali Zeidan. Prime Minister Abdulhamid al-Dbeibah. Parliament speaker Aguila Saleh. These are the official candidates for Libya’s Continue Reading
YENAGOA, Nigeria Nov 19 (Reuters) – Oil has been spilling from a well owned by Nigeria’s Aiteo Eastern E&P and state-run NNPC for two weeks in southern Nigeria, local residents Continue Reading
India’s Jindal Steel & Power Limited (JSPL) (JNSP.NS) will start building a coal mine in Botswana’s southeastern Mmamabula coalfields in 2022, aiming to supply the export market and a planned Continue Reading
Amidst consistent underperformance since this year, the Federal Government has indicated that it was rebuilding the upstream sector to ramp up crude oil production by 100 percent to 3.0 million Continue Reading
Africa is particularly vulnerable to climate change, not only because it’s heating up first and fastest. Rich nations, responsible for the vast majority of the world’s overall greenhouse gas emissions, Continue Reading
An official of NOSDRA says the intensity of the leak was hampering investigations at the incident site. The National Oil Spills Detection and Response Agency (NOSDRA) on Sunday said a Continue Reading
World powers gathered in Paris to discuss ways to stabilize Libya stressed the importance of next month’s pivotal presidential election and threatened sanctions against anyone who tries to undermine the Continue Reading
Several African countries plan to exploit their oil and gas reserves to tackle poverty and energy shortages, representatives gathered in Dubai said this week in the face of pressure to Continue Reading
Zimbabwe’s second largest city, Bulawayo, will be without water supply for 48 hours due to worsening power outages that is affecting the southern African nation. The water shedding is “prompted Continue Reading
Vice President Kamala Harris and other world leaders are gathering in Paris on Friday to make a diplomatic push in support of coming elections in Libya that could make or Continue Reading
The former Director-General, Lagos Chamber of Commerce and Industry says Nigerians are facing a “double jeopardy” of costly food and costly cooking gas. Muda Yusuf, an economist and former Director-General, Continue Reading
The gleaming new chimneys and hulking generators of what will soon be the second-largest coal-fired power plant in the Southern Hemisphere are at the center of South Africa’s $20 billion, Continue Reading
Coal-fired power generation should continue to be part of South Africa’s energy mix, its Energy Minister Gwede Mantashe said on Tuesday, noting that he would go to court if necessary Continue Reading
The Moroccan government is preparing port infrastructure for imports of liquefied natural gas to boost reserves after Algeria ended gas supplies through a pipeline on Oct. 31, the country’s energy Continue Reading
A diplomatic crisis between Morocco and Algeria threatens gas supply to Spain Spain considers importing more (expensive) LNG Algeria faces a number of problems in expanding its gas market share Continue Reading
Angola’s crude oil production is set to reach 1.3 million barrels per day, according to the Organisation of Petroleum Exporting Countries (OPEC). The decision is expressed in its production table Continue Reading
Sierre Leone president addresses residents at the scene of a deadly oil tanker explosion in Freetown on November 7, 2021. At least 90 people were killed and more than 100 Continue Reading
Onshore oil discoveries are pretty much a thing of the past. The last time anyone got remotely excited about one was in 2017, when giant Repsol discovered 1.2 billion barrels Continue Reading
Libya’s civil war may have come to an end, but plenty of uncertainty remains ahead of elections set to be held next month The country’s oil industry has suffered from Continue Reading
Oil rigs Nigeria, Africa’s biggest oil producer, has come under fire from the International Monetary Fund as well as World Bank for the heavy financial burden it carries in providing Continue Reading
Global oil production was hit hard during the pandemic, but few regions have suffered as badly as West Africa A combination of plunging jet fuel demand, a lack of investment, Continue Reading
Work is due to begin on Botswana’s second privately-owned coal mine in the first quarter of next year, the CEO of Maatla Resources told Reuters, despite calls to abandon coal. Continue Reading
With the approach of the COP26 climate summit, South Africa is negotiating with a handful of wealthy nations about how to overhaul its ailing electricity sector in what could become Continue Reading
Several major international players have shown interest in the West African region, hoping to develop the region’s oil industry before the global demand for oil decreases. It’s not just the Continue Reading
Libya’s Es Sider pipeline has a major leak that will require a 7- 10-day shutdown for maintenance The news comes on the back of Tuesday’s report on skirmishes by armed Continue Reading
Highlights Waha Oil Co. currently pumping 77,000 b/d of Es Sider crude Output to decline for 10 days due to pipline closure National Oil Corp. needs funding to repair oil Continue Reading
THE Nigerian National Petroleum Corporation, NNPC, yesterday, predicted that the nation needed about $2.7 billion worth of investment to enable it meet the rising demand for petroleum products. In his Continue Reading
Minister of State for Petroleum Resources, Chief Timipre Sylva, has assured that Nigeria would meet the three million barrels per day quota allocated to the country by the Organisation of Continue Reading
Oil prices are expected to reach $100 a barrel, yet, as the rates go up, Nigeria will spend more on fuel importation, frittering its market advantage. Despite oil price rally, Continue Reading
Israel, Egypt holding talks on new onshore pipeline -ministry New pipeline expected to cost $200 mln -industry sources Pipeline will boost exports by 3 to 5 bcm/year -industry sources LONDON, Continue Reading
Libya’s National Oil Corporation has reported monthly revenues of $1.796 billion for September from oil and related product sales. The amount is a record for the company, the result of Continue Reading
The 2021 Production Gap Report, by leading research institutes and the UN Environment Programme (UNEP), finds that despite increased climate ambitions and net-zero commitments, governments still plan to produce more Continue Reading
Highlights Sanalla still working despite suspension, sources say Minister Oun says Sanalla under investigation for trips Ministry, NOC battling to control Libya’s energy policy Libyan oil minister Mohamed Oun has Continue Reading
Egypt issues tenders for 17 new desalination plants Eyes adding 2.8 mln cubic metres’ daily desalting capacity To buy water from private plants for subsidised re-sale Emphasis on using solar Continue Reading
Libya’s election problem is still all about oil money. The fear among those who could lose power in Libya as a result of elections planned for December 24th is now Continue Reading
Highlights Russia’s Tatneft had suspended work several times Sanalla calls on other IOCs to boost activities in Libya Libyan crude output about 35% below peak levels Russia’s Tatneft has resumed Continue Reading
South African banks say they have to keep funding at least some coal projects for now because an immediate halt would put huge political and economic strains on a nation Continue Reading
Nigeria’s dependence on crude oil makes its economy vulnerable. But the transition to an economy not based on oil won’t be easy. The oil sector has an outsize influence on Continue Reading
Greece and Egypt will this week ink a preliminary deal to build a large electricity cable connecting the two countries, the first such agreement to be signed between Europe and Continue Reading
Despite lack of activities at the nation’s four refineries, pipeline vandalism continued across the country with over 151 pipeline points in the first quarter of 2021. This upward trend reflects Continue Reading
Moody’s, a renowned rating agency has said that global annual upstream spending needs to increase by as much as 54 per cent to $542 billion if the oil market is Continue Reading
Petroleum Minister Sylva says the Act will also boost oil reserves from 37 billion barrels to 40 billion barrels. The Petroleum Industry Act (PIA) will assist Nigeria in increasing its Continue Reading
The seeming wastage of Nigeria’s most priced natural resource, crude oil, continued in July, with the country losing a humongous 7.193 million barrels of the commodity to mainly deteriorating facilities Continue Reading
