Tuesday, March 28, 2017
IEA

Nigerian Militants Wreak Havoc On Crude

NBrent crude traded near $50 a barrel as Nigerian militants - the Niger Delta Avengers - carried out further attacks on oil production sites, threatening to deepen the country's biggest output losses in decades. According...
oil

Africa Oil And Power Conference

During the Africa Oil and Power Conference in Cape Town, South Africa, African governments were urged to create an attractive environment to ensure financial viability of the power sector. The maiden edition was themed,...
ENI

Africa Oil Revises Kenya Discovery up to 1.63 Billion Barrels

In a new update, Africa Oil, the company exploring oil at the South Lokichar Basin in Northern Kenya has announced a 24 per cent increase on previous deposit estimates by 150 million barrels to...

Oil Production: Angola Retains Continental Top Spot

Angola continued as Africa's number one oil producer in February, beating Nigeria to the second spot, according to the Organisation of Petroleum Exporting Countries (OPEC) monthly report on the oil market. After having remained below...
IEA

Latest IEA Oil Market Report Predicts Waning Demand for 2016

The Oil Market Report (OMR) a monthly International Energy Agency (IEA) publication in its August edition has predicted waning demand for oil in the remaining months of 2016. The publication provides a view of the state of...
Oil

Nigeria: NNPC Shaves 72% off Re-Negotiated Deep Offshore Rig-Rate

The Nigerian National Petroleum Corporation, NNPC, has significantly trimmed down the cost of its deep offshore rig-rate downwards by about 71.7 per cent in a renegotiated deal. The Group Managing Director of the corporation, Maikanti...

Nigeria’s Oil Production Could Be Over Soon As Militant Group Intensifies Attack on Infrastructure

Nigeria's oil infrastructure in the Niger Delta region continued to take more devastating hits on Friday 8th July 2016, from a group of militants known as the Niger Delta Avengers (NDA) in a bid...

Nigeria: ULC Endorses Govt’s Plan to Licence Modular Refineries

The United labour Congress of Nigeria (ULC) has expressed support for the licensing of modular refineries in the country to help reduce the country's dependence on imported refined petroleum products. The endorsement is coming on...

Shell, OEMs Partner To Produce Local Oil & Gas Tools

As part of its efforts to boost local content in Nigeria, the Shell Petroleum Development Company, SPDC, is partnering with Original Equipment Manufacturers, (OEMs), to produce oil and gas tools in the country. Shell PetroleumManaging...
Oil

Nigeria’s State Oil Firm NNPC loses N197bn in 2016

Challenging factors including disruption of operations in the downstream sector has cost The Nigerian National Petroleum Corporation, NNPC a total loss of N197.49 billion at the end of the 2016 financial year. According to data...