Tags Oil

Tag: oil

Lagos to Commence Oil Production by 2014

AFRICANGLOBE - Lagos offshore oil field, Aje gas and condensate field, is set to begin oil production by 2014, the United States Energy Information Administration’s website reported. According to information on the website, the oilfield which lies in Oil Mining Lease 113 in the Benin Basin

Nigerian Oil Company Oando to Acquire Conoco Phillips Nigerian Business for...

AFRICANGLOBE - Nigeria’s leading indigenous energy group, Oando PLC, has announced its affiliate Oando Energy Resources (OER), which is listed on the Toronto bourse (TSX), has entered into agreements with ConocoPhillips (COP) to acquire its entire business interests in Nigeria for an estimated cash of $1.79 billion including customary adjustments.

Ecobank to Buy Investment Bank, Venture Into Oil, Gas Deals

AFRICANGLOBE - Ecobank Kenya is taking steps to purchase an undisclosed Kenyan investment bank as part of plans to facilitate Ecobank involvement in oil, gas and...

Engen Becomes Largest Oil Retailer In Kenya

AFRICANGLOBE - In what is expected to diminish the influence of foreign energy companies on oil price fixing in Kenya, Engen, an African petroleum group...

South Sudan Oil Output Expected to Rise

AFRICANGLOBE - Sudan plans a budget of between 20 and 30 billion Sudanese pounds ($7 billion) in 2013, boosted by higher oil output and...

Tullow Oil Discovers More Oil in Kenya

AFRICANGLOBE - Tullow Oil plc says it has discovered 30 metres of net oil pay at the Twiga South-1 well in Block 13T, which...

South Sudan: U.S. Disappointed By Delays in Oil Production

The United States government on Monday expressed concern over delays in resumption of South Sudan's oil production, claiming the move deprives the two Sudan's...

Nigeria Struggles to Stop Billion-Dollar Crude Oil Theft

AFRICANGLOBE - Nigeria Africa's largest oil exporter has a major problem with Crude oil theft. A report just released by the International Energy Agency...

Nigerian Navy Intercepts 17 Vessels Suspected of Carrying Stolen Oil

Seventeen ships laden with tens of millions of barrels of crude oil suspected to have been stolen were arrested by the navy.The ships were...

Nigerian Firms Buying Out Foreign Oil Companies

AFRICANGLOBE - Three international oil companies (IOCs) - Shell, Total and Eni (Agip) - have raked in $2.569 billion (N411.04 billion) from the sale...

South Africa DR Congo Sign Oil Cooperation Agreement

South Africa's State oil company PetroSA signed a cooperation agreement with the Democratic Republic of Congo’s National Oil Company (NOC) Cohydro Sarl on Tuesday...

Nigeria’s Stolen Oil

Nigeria is the world capital of oil theft, at least according to The Economist. However, because the government does not know how many barrels...

South Sudan Orders Oil Companies to Resume Production

South Sudan on Thursday issued an order instructing foreign and national companies involved in oil industry to immediately resume production and exports through the...

South Africa’s PetroSA Acquires Oil & Gas Assets In Ghana

South Africa’s national oil company, PetroSA has completed the acquisition of oil and gas assets in Ghana, for an undisclosed fee according to a...

Sudan Reclassified as Oil Importer as Exports Plunge

Sudan plans to double its oil output over the next two years, as the country struggles with rebel attacks on its oil sites and...

Nigeria Will Not Fight For Oil-Rich Bakassi Peninsula

Nigeria will not launch an appeal against the ICJ ruling granting the Bakassi region to Cameroon but will develop methods to protect the interests...

Nigeria’s Oil Prosperity Not Guaranteed

The World Bank said Thursday that it expected about $31 billion in Foreign Direct Investment (FDI) inflows to Africa this year, adding that there...

Brazil’s Petrobras to Explore for Oil in Ethiopia

Petroleo Brasileiro SA (Petrobras), Brazil's state oil company, plans to commence an oil exploration project in Ethiopia, according to reports.Ethiopia's Mines Minister Sinknesh Ejigu...

Oil and Gas: East Africa’s Race to Get Ready

The reserves already discovered will make East Africa one of the next gas frontiers. Companies are waiting for policymakers to determine priorities and incentives...

Nigeria to Increase Share of Offshore Oil Profits

Nigeria's Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, late Wednesday threw more light on why the Nigerian Government is proposing a review of the...

Nigeria: World’s Largest Oil & Gas Free Trade Zone Generates $6b...

Nigerian Minister of Trade and Investment,  Olusegun Aganga disclosed yesterday, at the Oil & Gas Trade and Investment Forum 2012 in Onne, Rivers State...

Eni Makes First Important Oil Discovery In Ghana

Africa’s biggest foreign oil and gas producer Eni S.p.A, and international oil marketer Vitol, have made their first important oil discovery in Ghana, at the...