Home Tags Oil

Tag: oil

Nigeria’s Oil Earning On The Rise

AFRICANGLOBE - For the first time in 2019, the price of crude oil has surged from $64.00 recorded last week to $66.35 over the weekend as a result of Organisation of Petroleum Exporting Countries, OPEC efforts targeted at eliminating excess oil from the volatile market, thus leading to an increase in the nation’s excess oil revenue.

Cabinda: The Tiny Oil-Rich Corner Of Africa Everyone Is Fighting Over

AFRICANGLOBE - While looking at southwestern Africa on a map or globe, you might have noticed something odd: a little dot of Angola-colored territory sandwiched in between the Republic of the Congo and the Democratic Republic of the Congo, but miles away from the rest of Angola. This exclave is the province of Cabinda, and its cultural origins are completely different from Angola's other 17 provinces.

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...