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Ethiopia Needs Three Years To Develop Newly Discovered Oil Resource

AFRICANGLOBE - Ethiopia's Ministry of Mines, Petroleum and Natural Gas disclosed that the country needs additional three years to develop its petroleum resources in the Ogaden area. The nation has announced in June that it has discovered a huge crude oil reserve in the Ogaden area, eastern part of the country.

Nigeria Back On Top As Africa’s Largest Oil Producer

AFRICANGLOBE - Nigeria may have reclaimed its position as Africa's top oil producer which it lost to fellow African oil producer, Angola earlier in March 2016. According to the December 2016 Monthly Oil Market Report (MOMR) of the Organisation of Petroleum Exporting Countries (OPEC), crude oil production from Nigeria rose slightly above that of Angola even before the January 2017 planned production cut agreed by OPEC and non-OPEC producers.

Nigeria Now the Worlds Second largest Crude Exporter Behind Saudi Arabia

Nigeria has been ranked above Iran as the second largest crude oil exporter in the world after Saudi Arabia. The ranking was contained in a report released by the Organisation of Petroleum Exporting Countries (OPEC) in its 2010 report published recently.

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.

Opec Refuses Quota Increase for Nigeria

Talks by the Organisation of Petroleum Exporting Countries (OPEC) on Wednesday broke down in acrimony leading to a refusal to jerk up oil production quota for Nigeria and other oil exporting nations.

Nigeria's FG's Run-of-the-Mill Status in OPEC

Nigeria, a sovereign nation with about 37billion barrels oil reserves continues to wait for a green light from the Organisation of Petroleum Exporting Country...