Tag Archives: oil

Lagos, Nigeria | AFP | Thousands of passengers across Africa have been left stranded after Nigeria’s largest airline said Tuesday it had suspended operations and might remain grounded for several days. Arik Air attributed the “temporary disruption” to “pending approval of aircraft documentation related to insurance renewal… a challenge due …

  Lagos, Nigeria | AFP | Traffic jams may clog the city and the beaches look like garbage dumps, but for the Lagos state government developing tourism is now a do or die matter. Nigeria has survived almost exclusively on oil revenues for decades, but the plunge in crude prices …

VIDEO: The Ministry of Energy and Mineral development has awarded 8 petroleum production licences to oil companies– with production work expected to start within 18 months. The licenses that have been awarded to Tullow Uganda operations and Total E&P will see three partner petroleum companies start oil production in a total …

Uganda on Tuesday issued oil production licences to the French group Total and British company Tullow. Energy Minister Irene Muloni said first oil production is now expected in 2020. Experts say the government hopes to earn $1.5 billion a year from oil exploitation, particularly from taxes, royalties and a 15% share of the benefits …

Singapore, Singapore | AFP |  Oil prices fell for a third day in Asia trade Thursday after figures showing high US crude stockpiles and increased Saudi production. Official US data on Wednesday showed a jump in crude inventories, taking by surprise investors who expected a drawdown in supply, pushing prices …

President Yoweri Museveni started his two-day visit to Chad by touring their oil facilities on Sunday. In N’Djamena for the swearing-in ceremony of President Idriss Deby to his fifth term in office, Museveni jumped on a helicopter to inspect the country’s oil refinery. Over 15 heads of state are expected to …

  Singapore, Singapore | AFP | Oil prices fell further towards the $40 mark in Asia Friday, extending losses to a seventh-straight day on renewed worries about a global supply glut, increased production. The commodity has slipped nearly 20 percent since its 2016 peak above $50 in early June as …

Abuja, Nigeria | AFP | Thursday Nigeria’s President Muhammadu Buhari on Thursday said the government was in talks with oil rebels whose attacks have hit production, as the head of the state-run energy firm laid bare damage to the sector. Buhari said in a statement that “his administration is talking …

Singapore, Singapore | AFP | Oil prices retreated in Asia Tuesday, with Brent easing below $50 on news of increased production from Nigeria following the repair of infrastructure damaged in militant attacks. Bloomberg News reported Tuesday that Nigeria, Africa’s biggest oil producer, pumped an average 1.53 million barrels a day …

Final touches are being made on a deal in which Total will take over all GAPCO operations in the region. The development follows months of intense negotiations between the two for Total Outre Mer SA, the retailing arm of Total, to acquire all the Gulf Africa PetroleumCorporation (Gapco) assets in …