Nigerian President Muhammadu Buhari reversed a government decision to revoke four oil permits from a unit of China’s Sinopec. Buhari “approved the restoration” of the licenses to Addax Petroleum Corp. as Continue Reading
Businesses in Nigeria are losing each year around US$29 billion because of the unreliable power supply, the World Bank said in an estimate about the OPEC country, which is the Continue Reading
The sudden death of Chadian President Idriss Déby in a desert battlefield is threatening more headaches for its biggest private creditor: commodities trader Glencore Plc. Trading firms like Glencore have over the Continue Reading
OPEC member Angola was Africa’s top oil producer six years ago when oil prices crashed in 2015-2016, slashing oil-producing countries’ revenues and forcing international oil companies to reconsider their exorbitant Continue Reading
Nigerians have been accumulating foreign currencies to protect their wealth from naira volatility and surging inflation, according to a research paper in a journal published by the Central Bank of Continue Reading
The death of Chad’s President Idriss Déby is likely to trigger political instability in the key oil-producing country and the wider central African region, with a potential impact on its Continue Reading
Scores were feared killed and no fewer than 50 houses razed, after a tanker conveying petroleum products exploded at Oshigbudu in Agatu Local Government Area of Benue State. The tanker Continue Reading
As many as 100 oil and gas projects are set to start in Nigeria by 2025, accounting for 23 percent of all projects starts in the industry in Africa within Continue Reading
Few years ago, any economic pundit that thought of the possibility of a privately-owned petroleum refinery that would have the capacity to meet the needs of Nigeria’s downstream sector, and Continue Reading
Oil and gas is the lifeblood of Nigeria’s economy. A total of 1,161 pipeline points were vandalised across Nigeria in the 21 months between January 2019 and September 2020. Nigeria Continue Reading
