Nigeria: Govt Wants Shell to Shelve Onshore Divestment Plans
The federal government is encouraging Royal Dutch Shell Plc to keep its onshore oil and gas business in the country instead of divesting it, as the company seeks to focus Continue Reading
Nigeria’s Oil Output Drops By 30% in Four Years – Investigation
In an apparent reflection of the measures taken to achieve stability in the global market by the Organisation of Petroleum Exporting Countries, OPEC, pipeline vandalism and oil theft in the Continue Reading
Ghana set to receive first LNG cargo at end of May
Sub-Saharan Africa’s first LNG terminal operationally ready Shell to supply LNG under long-term contract with GNPC Africa expected to develop more LNG import infrastructure Ghana is now expected to receive Continue Reading
Nigeria: NNPC Sells N267 Billion Crude Oil, Maintains 1.42 Million BPD Output
The Nigerian National Petroleum Corporation (NNPC) sold crude oil worth N267.59 billion in February, while its total daily production stood at 1.42 million barrels per day in the first quarter Continue Reading
Africa’s Most Interesting Untapped Oil Play
When writing the article on this year’s Top Oil Wildcats , one of the hottest candidates had to be dropped out of the list. Not because the prospect turned out Continue Reading
Nigeria’s NNPC Says Subsidy Won’t Stop Government Obligations
Nigeria’s state-owned energy company assured it will continue to meet its financial obligations to the government despite indicating the cost of gasoline subsidies may make it impossible to contribute to Continue Reading
Nigeria: Shell Pipelines Spill 4,309 Barrels of Crude in H2’20
Shell Petroleum Development Company of Nigeria Limited (SPDC) reported that a total of 4,309.18 barrels of crude was spilled into the Niger Delta environment from its operations in the second Continue Reading
Why Nigerian Oil Prices Are Falling
Although it is a very rare occurrence to see Nigerian grades trade at levels stipulated by the Nigerian National Petroleum Company (NNPC) every month, the issuance of its official selling Continue Reading
“Nation is on fire”: Nigerian lawmakers demand action on security crisis
Nigeria’s parliament called on the presidency, armed forces and police to address the country’s mounting security crisis on Tuesday, with the lower house urging President Muhammadu Buhari to declare a Continue Reading
Nigeria: Again, Pipeline Explosion Rocks Lagos
Another pipeline explosion on Sunday evening erupted in Isheri-Idimu community, Egbe-Idimu Local Council Development Area (LCDA) in Lagos State. It was gathered that the inferno broke out after fire gutted Continue Reading
Nigeria’s Buhari Restores Oil Permits Revoked from China’s Addax
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
Africa’s Largest Oil Producer Loses $29B Per Year On Power Outages
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
Chad President Idriss Déby Death Threatens Headache for Glencore
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
Angola May Privatize State-Owned Oil Firm To Boost Production
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
Nigeria Naira (NGN USD): Citizens Hoard Foreign Currencies to Protect Wealth
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
Volatility in store for Chad’s oil industry after president’s death
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
Nigeria: Scores Killed, Over 50 Houses Razed in Petrol Tanker Explosion in Benue
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
Nigeria Set To Start-up 100 Oil & Gas Projects By 2025
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
Nigeria: The Much-Awaited Dangote Oil Refinery
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
Nigeria Spends Billions On Pipeline Maintenance As Hundreds Are Vandalised Annually
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
Nigeria: Production Sharing Contract – Government, Oil Majors Pass the Buck Over Nigeria’s U.S.$62 Billion Cut
There is a cloud of uncertainty surrounding $62 billion outstanding taxes and royalties owed Nigeria by operating major oil companies in the country. The federal government had in 2019 taken Continue Reading
Eni’s Latest Oil Discovery Could Be Big For Angola
Italian firm Eni has made a new light oil discovery off the coast of Angola after exploration activities recommenced following a year of pandemic restrictions. The discovery, made on Tuesday, Continue Reading
West Africa: How Smuggled Petrol From Nigeria Floods Niger, Cameroon, Benin, Togo
Nigeria’s refined petroleum products, especially the Premium Motor Spirit (PMS), otherwise called petrol, is the ‘smuggle gold’ feeding Cameroon, Benin, Togo, Chad and Niger Republic, which all share border with Continue Reading
Nigeria: How Insecurity Affects the Lives of Everyone in the Niger Delta
Nigeria has an urgent insecurity problem . News from the country often emphasises insecurity related to Islamic insurgents in Northern Nigeria, organised armed banditry involving Fulani herdsmen , farmer-herder conflicts, Continue Reading
Nigeria Bets on Solar to Power Its Covid Recovery
Suleiman Babamanu’s path to the heart of Nigeria’s biggest solar power program started in disappointment. After university he worked as a trainee geoscientist for a unit of the Nigerian National Petroleum Continue Reading
Nigeria: IEA Sees Drop in Nigeria’s Crude Oil Capacity By 2026
The International Energy Agency (IEA) forecasts that crude oil capacity in Nigeria will drop by 200,000 barrels to 1.6 million barrels per day by 2026 due to low investment. It Continue Reading
Nigeria’s graduates live hand to mouth as jobs crisis worsens
The 24-year-old makes a few thousand nairas ($7-$13) a day, but the work is irregular. “I’ve applied for over 100 jobs since I graduated — at the federal civil service, Continue Reading
Nigeria Adopts Flexible Rate in Foreign-Exchange Policy Overhaul
Nigeria adopted a new flexible exchange-rate policy for official transactions in a move that effectively marks the third devaluation of the naira in a year. The government will start to Continue Reading
Nigeria: Eight Quick Things to Know About Port Harcourt Refinery
Analysts have criticised the latest move to repair the refinery at a huge sum of $1.5 billion. The Federal Executive Council on Wednesday approved a fresh $1.5 billion for the Continue Reading
Nigeria Bribery Case Ends In Victory For Shell, Eni
An Italian court has ruled that oil giants Royal Dutch Shell PLC and Eni SPA are not guilty in a bribery case involving a Nigerian oilfield that has spanned years, Continue Reading
Nigeria: Malabu Scandal – Acquittal of Shell, Eni ‘Stain On Italy’ – Anti-Corruption Campaigners
Environmental and social justice groups on Wednesday condemned Italy’s anti-corruption laws as “unfit for purpose”. The condemnation followed the acquittal of oil multinationals, Shell and Eni, on international corruption charges Continue Reading
Nigeria’s Crude Oil Production Declined By 19,6% in Q4
Nigeria’s crude oil production declined by 19.6 per cent to an average of 1.52 million barrels per day (mbpd) in the fourth quarter of 2020, compared with the 1.89 mbpd Continue Reading
Nigeria Unemployment Rate Rises to Second Highest on Global List
Unemployment in Africa’s largest economy surged to the second highest on a global list of countries monitored by Bloomberg. The jobless rate in Nigeria rose to 33.3% in the three months Continue Reading
Nigeria: Bayelsa Community Shuts Conoil’s 30,000 BPD Flow Station
The protesting community says the company was “insensitive to its social obligations to the people.” A crude production flow station operated by Conoil Production at Ango field in Koluama, Southern Continue Reading
Nigeria: Court Declines to Unfreeze Shell’s Bank Accounts
A Federal High Court in Lagos yesterday declined to vacate its interim Mareva injunction directing 20 banks to block Shell Petroleum Development Company of Nigeria (SPDC) and its subsidiaries’ bank Continue Reading
Nigeria’s Lawsuits Against Shell Could Cause Oil Major Exodus
Judging from recent headlines, Nigeria has unleashed one of the most spectacular legal attacks on one of its key oil and gas investors, to an extent previously unseen in the Continue Reading
Nigeria: Anxiety As Fuel Scarcity Hits Lagos, Abuja, Others
Fuel pump. Many filling stations in Abuja, Lagos, and other cities did not open for business. Nigerians were at the weekend thrown into confusion as fuel scarcity hit Lagos, Abuja, Continue Reading
Dangers of Big Oil Spending Cuts Are Visible in Angola’s Slump
The decline of Angola, from being Africa’s top crude producer five years ago to barely pumping more than war-torn Libya today, shows the heavy toll of a slump in oil-industry Continue Reading
Nigeria Needs Private Security On Vessels to Tackle Piracy
Oil theft Nigeria has been advised to review its maritime security rules and enlist the support of private security companies to tackle rampant piracy on its waters. A report published Continue Reading
Nigeria losing 200,000 b/d to crude oil theft as sabotage grows: NNPC
Nigeria is losing an average of 200,000 b/d of its crude oil production to theft, state-owned Nigerian National Petroleum Corp. said Feb. 25, indicating a surge in pipeline sabotage in Continue Reading
First Free Covid Vaccines From WHO-Backed Covax Arrive in Ghana
View full article at www.wsj.com
Nigeria: Ending Gas Flaring in Nigerian Communities
Some communities in the Niger Delta region and others have been forced to live with the tumultuous effects of gas flaring on their health and environment. Recently, hope beckoned with Continue Reading
Nigeria: 63 Years After, Gas Flares Still Killing, Polluting Niger Delta Region
Despite longstanding laws against gas flaring, the burning of natural gas during oil extraction has remained the major cause of mortality in the oil-rich Niger Delta region. ANAYO ONUKWUGHA writes Continue Reading
Nigeria: Finally, Shell Can No Longer Shirk Responsibility for Niger Delta Oil Spills
Two landmark rulings are a testament to decades of tireless campaigning by people in the Niger Delta and environmental activists. Like many who have witnessed the environmental impact of multinational Continue Reading
Africa: A Visit to Dangote Refinery, Africa’s Largest
With an estimated investment of $15billion, the Dangote Refinery and Petrochemical complex under construction in the Lekki Free Trade Zone, Lagos, is expected to be Africa’s biggest oil refinery upon Continue Reading
Nigerians Can Now Sue Shell In The UK For Oil Pollution
Nigerians can sue Shell in English courts for damage to communities caused by oil spills in the Niger Delta, the UK’s Supreme Court said on Friday, allowing the communities to Continue Reading
Nigeria: IMF Foresees Dangote Refinery’s Potential of Bailing Nigeria From Economic Downturn
The International Monetary Fund (IMF), the global financial watchdog is projecting that Nigeria’s Dangote Refinery would provide an elixir for the country’s economy when it is completed and start production Continue Reading
Shell May Re-evaluate Oil Operations Onshore Nigeria
Persistent issues with theft and sabotage in the Niger Delta could prompt Shell to take a hard look at its operations onshore Nigeria, the supermajor’s chief executive Ben van Beurden Continue Reading
Nigerian Judge Issues Arrest Warrant for Chief of Exxon Unit
A Nigerian judge issued an arrest warrant for the managing director of Exxon Mobil Corp’s local unit for failing to appear before the nation’s anti-graft agency investigating what it says is Continue Reading
Nigeria: Sylva – Why Oil Firms Cannot Relocate Offices to Niger Delta Now
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said asking the oil companies operating in the country to relocate to the Niger Delta without first addressing the Continue Reading