*Deficit exceeds 700,000bpd despite assurances of increased drilling The expectation that Nigeria’s current dollar crunch could subside soon has again been dashed as the country’s crude oil production remained below Continue Reading
Highlights July production falls 89,256 b/d to 1.31 million b/d Bonny Light hits lowest level in decades, force majeure still in effect Political risks could deteriorate ahead of 2023 elections Continue Reading
Nigeria said it owes 20 trillion naira ($47 billion) to its central bank and the obligations are yet to be added to the African nation’s outstanding public debt, according to Continue Reading
Libya’s oil production is bouncing back from the latest oil blockade that was triggered in the aftermath of failed elections. Libya’s oil production reached 1.2 million barrels per day after Continue Reading
“I want to give my family the best I can afford. We cannot just stay and survive. We really want to live,” Tam G (not his real name) said. “This Continue Reading
Libya’s crude production has returned to 1.2 million b/d after the lifting of force majeure on oil fields and exports on July 15, state-owned National Oil Corp. said July 31, Continue Reading
A new report showed that Nigerian oil revenue underperformed due to significant shortfalls such as shut-ins resulting from pipeline vandalism and crude oil theft. The Trans-Niger Pipeline, a major pipeline Continue Reading
Libya ramps up production to 1.1 million bpd following the resumption of exports. NOC looks to reach ‘normal’ rates of 1.2 million bpd within the next two weeks. The recent Continue Reading
The controversial East African Crude Oil Pipeline being built in Uganda and Tanzania is facing harsh criticism from environmentalists. East African governments are hopeful about how the project could help Continue Reading
Libya boosted oil production to more than 1 million barrels a day, a milestone for the North African country where output had more than halved since mid-April. The OPEC member, Continue Reading
