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U.S. Crude Oil Import From Nigeria Declines By 93 Percent

AFRICANGLOBE - The United States' import of crude oil from Nigeria and Algeria have declined by 93 per cent since 2010, the U.S Energy Information Administration (IEA), has said. Meanwhile, Nigeria's oil production may have recorded a major setback, as the Shell Petroleum Development Company (SPDC) shut its Trans-Niger Pipeline (TNP), which supplies products to the Bonny export terminal.

America Shuns Nigerian Oil

AFRICANGLOBE - The search for alternative energy by the Obama administration has begun to take a toll on Nigeria's crude oil export as the U.S. for the first time failed to import a single barrel of oil from Nigeria.

Tullow To Begin Kenyan Oil Production In 2017

AFRICANGLOBE - Tullow oil has placed a 2017 time frame, in line with the government’s target, to commence oil production after describing the oil as that of a “high quality and of international marketable standard.”

Nigerian Billionaire Considers Buying Oil Fields

AFRICANGLOBE - Dangote Group, controlled by Africa’s richest man Aliko Dangote, is considering the purchase of Nigerian oil fields as international companies plan to sell onshore assets in the continent’s top crude producer. The company, which has interests from cement to sugar, needs to secure a supply of crude oil and a “substantial amount of gas” for a $9 billion oil refinery and petrochemical complex it plans in southwest Nigeria

Nigeria Discovers More Oil

AFRICANGLOBE - Nigeria's commercial capital, LAGOS, is on the verge of joining the country's oil-producing states with the discovery of crude oil in commercial quantities in the coastal state.

Nigeria Loses Billions Annually on Oil Theft

AFRICANGLOBE - The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) yesterday disclosed that the country loses $6 billion annually to crude oil theft.

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...

Nigeria: Oil Production Falls Below Govt’s Projection

The Central Bank of Nigeria (CBN) said Monday that the country pumped 2.12 million barrels per day (bpd) of crude oil in the second...

Nigerian Oil Production Hits Record 2.7 Million Barrels

The Nigerian National Petroleum Corporation (NNPC) has said that Nigerian oil production has risen from 2.4 million barrels per day (mbpd) to 2.7 mbpd...

Nigeria, Oil Firm to Establish Two Refineries Worth $4.5 Billion

Nigeria's Federal Government has signed a Memorandum of Understanding (MoU) with the Petroleum Refining and Strategic Reserve Limited (PRSR), a renowned America-Nigeria joint venture,...

Nigeria Embark on Oil Massive Refining Project

Nigeria has signed an agreement with an American firm, Vulcan Energy to build six oil refineries worth $4.5 billion, government has said. The deal signed on Monday has been described...

Vessels Seized Carrying 1.3 Million Barrels of Stolen Nigerian Crude Oil

The Joint Task Force (JTF) in the Niger Delta, code- named 'Operation Pulo Shield', on Monday arrested 22 Ghanaians and four Nigerians with two...

Another Nigerian State Expected to Discover Oil

Niger State may soon join the league of oil producing states in Nigeria following positive indication of oil deposit at Nupe (Bida) basin. This indication...

Iran Sanction – Spain Switches to Nigeria for Oil Imports

Spain's crude imports from Iran dropped in January, while its supplies from Nigeria increased from 636,000 tonnes in December 2011 to 838,000 tonnes in...

Nigeria Tightens Conditions for Oil Lifting Contracts

The Nigerian National Petroleum Corporation (NNPC) has modified the conditions that will be met by companies wishing to bid for the lifting of Nigeria's...