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
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
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
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
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
