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Oil & Gas
Low oil prices may hinder development of Africa’s new…
Data from the US Energy Information Administration (EIA) in 2010 reveal that 16 of the 54 countries in Africa are…
Egypt lines up $6.8 billion of Kuwaiti investment for…
Egypt has agreed preliminary deals with Kuwaiti companies for the establishment of petrochemical projects worth…
BP loses bid to cut maximum $13.7 billion Gulf spill…
A US judge rejected BP Plc’s attempt to reduce the maximum civil fine it could face for its role in the 2010 Gulf…
Oil rises towards $61
Brent crude oil rose towards $61 a barrel as expectations of falling US rig count numbers outweighed concerns about…
Forte Oil declares N6.01bn profit
Against the backdrop of a slowing economy and increased insecurity, Forte Oil Plc, a major Nigerian marketer of…
CBN issues deadline for repatriation of oil, non-oil…
The Central Bank of Nigeria (CBN) has directed all authorised dealers that proceeds of oil and non-oil ex- ports…
Domestic gas demand set to soar fivefold to 10bcf/day by…
Going by the wave of reforms in the Nigerian oil and gas sector, demand for domestic gas is expected to grow…
Nigeria’s oil output shoots up by 44,000 barrels per day
Against odds, Nigeria’s crude oil output hit 1.94 million barrels per day (mbpd) in January 2015, an increase of…
OPEC more optimistic about demand for own crude in 2015
The oil price plunge, from as high as $115 per barrel in mid-June 2014 to as little as $45.19/b in mid-January has…
Natural Gas Liquid production hit over 1.1 million…
According to NNPC’s latest released monthly petroleum information, Natural Gas Liquid (NGL) production reached 1.1…
World Bank gives $1billion in risk financing for African…
The World Bank has set aside more than $1billion in risk financing to back the use of flared gas from oilfields…
Total takes $6.5 billion impairment, cuts costs
French energy company Total will cut investment and jobs this year and accelerate its asset sales programme after…