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Ethiopia Signs Oil an Gas Contracts

Ethiopia has signed agreements with eight international companies that will explore for gas and oil deposits across the country. The Horn of African country’s Ministry...

Big Oil Confab in Monrovia, Liberia

That Liberia is likely to become an oil producing and oil-exporting nation, after Nigeria and Ghana in West Africa, is no doubt good news for Liberians. Unlike Nigeria and Ghana, however, Liberia does not seem to have an entrepreneurial class capable of taking ownership of the new industry.

Nigerian Oil Production Soars

Nigeria's crude oil export has recorded a major boost as Shell Petroleum Development Company (SPDC) has lifted force majeure on about 300,000 barrels per...

Massive Oil Reserves Discovered in Namibia

In a development that is set to place Namibia on the world map of oil-rich nations, an estimated 11 billion barrels of oil reserves has been discovered around Namibia’s southern coast.

World Oil Demand May Hit All-Time High Before December, OPEC Warns

The Organisation of Petroleum Exporting Countries (OPEC) on Tuesday warned that global demand for oil may hit an all-time high before December, 2011. OPEC, a renowned cartel, which controls over 40 per cent of oil deposit in the world, stated this in a forecast on its website.

Libya Owned Oil Company Anxiously Lobbies Ethiopian Govt Over Taxes

Managers of Libya Oil (Ethiopia) Ltd, a Mauritius registered oil distributor, have appealed to the Prime Minister's Office and the Director General of the Ethiopian Revenues and Customs Authority (ERCA), claiming that demand from the latter in dividend tax will force them to "surrender" their operation in the Ethiopian market

Al-Bashir Threatens to Sabotaje Southern Oil Exports

The Sudanese president Omar Hassan al-Bashir on Tuesday threatened to shut down the pipelines that transfer oil from the landlocked South to Port Sudan on the Red Sea unless a revenue sharing deal is reached by next month.

International Oil Companies Line-Up for Ugandan Licences

Over 100 oil companies are queued up for the next licensing regime to get into Uganda's oil market but government wants to maintain the moratorium now in its fourth year even longer.

Oil Companies Nervous as Nigerian Government Becomes More Assertive

There are palpable fears among International Oil Companies (IOCS) operating in Nigeria's multi-billion dollars oil and gas industry as the federal government blew hot on the operations of the controversial Joint Venture oil blocs, declaring that whoever buys the IOCs interests with intention to operate does that at its risk.

European Consortium to Commence Off-Shore Oil Drilling in Mozambique September

The consortium formed by the Italian oil company, ENI, and the Portuguese Galp-Energia expects to start drilling for oil and gas in the Rovuma Basin, off the coast of the northern Mozambican province of Cabo Delgado, by September.

Oil Companies Prepare for a Post-Gaddafi Libya

The Washington Post last week noted that representatives of ConocoPhillips and other American oil companies recently met with a delegation from the so-called Transitional National Council based in “rebel”-held Benghazi. The executives reportedly received assurances that all the contracts they negotiated with the Libyan government would be honoured

God Barons: Nigerian Pastors "As Rich As Oil Tycoons"

Nigeria's pastors run multi-million dollar businesses which rival that of oil tycoons, a Nigerian blogger who has researched the issue has said.

Nigeria’s Crude Oil Theft: Shell Et’al And Their Half Truths

All major operators in Nigeria are guilty of this corporate delusion either because of their complicity in the entire business of crude oil stealing or inappropriate accounting for extracted oil. Except that they are afraid of implicating highly-placed individuals in and outside the government

Liberians Warned Not to Expect Oil Benefits Less Than 2 Decades

As many foreign firms sign on to explore crude oil along the shores of Liberia, the head of the National Oil Company of Liberia, (NOCAL), has cautioned Liberians to lower expectations, saying, the country may begin benefiting from oil resources not in the immediate future, but only after 25 years.

Uganda to Begin Oil Production This Year, Says Tullow

Glover said the refinery project is expected to be finalised in three to five years. The company has described the area in Bunyoro where oil has been discovered as a "world class basin".

Oil Field Tax Saga Rolls On In Uganda

The complicated row over tax involving lucrative oil fields in Uganda took another twist last week after Heritage Oil begun arbitration proceedings in London against the Ugandan government.