Total Nigeria Plc has put in place a robust fleet acquisition scheme by renewing approximately 20% of its fleet of trucks in 2017.
The Ministry of Mines and Hydrocarbons of Equatorial Guinea announces that it has submitted its interest to join the Organization of Petroleum Exporting Countries (OPEC) in 2017.
To ensure stability in the supply of Liquefied Petroleum Gas, popularly known as domestic cooking gas, the West African Gas, a joint venture company of the Nigerian National Petroleum Corporation and Sahara Energy, has taken delivery of two LPG carriers from the Hyundai Mipo Dockyard (HMD) in Ulsan, South Korea.
Close to 10,000 jobs are set to be created following the three year construction of the crude oil pipeline that will run from Western Uganda to Tanga Port in Tanzania.
SDX Energy Inc revealed it has agreed to acquire the Egyptian and Moroccan assets of failed AIM firm Circle Oil. A non-binding heads of terms agreement has been signed, and it gives SDX 30 days exclusivity to finalise a deal.
The Nigerian National Petroleum Corporation, NNPC, has stepped up collaboration with the reputable multinational oil service company, Schlumberger, in the deployment of state-of-the-art technology in the ongoing search for commercial hydrocarbon deposits in the Chad basin and other parts of the inland sedimentary basins.
The Nigerian Petroleum Development Company, NPDC, the upstream subsidiary Company of the Nigerian National Petroleum Corporation, NNPC, has provided clarification on the reported non-remittance of some crude oil revenue to the Federation Account.
Oil trader Gunvor Group is suing Cerberus Capital Management, alleging that the private-equity firm is refusing to pay its share of costs incurred when the two companies made a failed $650 million bid for Chevron Corp. assets in South Africa.
Kenya is considering converting a portion of its coal deposits to oil as part of measures to cushion the economy from the volatile fuel import market.
[Nigeria] Oando PLC Completes $115.8mn Gas and Power Partial Divestment to Helios Investment Partners
Indigenous energy group, Oando, has announced the completion of a partial divestment of 49% of the voting rights in Oando’s midstream business subsidiary, Oando Gas and Power Limited, to Glover Gas & Power B.V., a special purpose vehicle owned by Helios Investment Partner.
The agreement by the oil producing nations to cut about 2 million barrels of crude oil off the market commenced yesterday giving hopes for commodity-reliant nations like Nigeria of more revenue in 2017.
Libya’s National Oil Company (NOC) said it has reopened two oilfields this week, as it continues to recover oil production lost during the civil strife that followed the downfall of the country’s former dictator, Muammar Gaddafi, five years ago.
Thousands of residents in Nigeria’s commercial capital, Lagos, benefitted from a health outreach organised by the NNPC and Shell Nigeria Exploration Production Company (SNEPCo), which offered free medical services and education at strategic areas in the mega city.
The Nigerian National Petroleum Corporation, NNPC, on Wednesday outlined a detailed proposal to help the National Assembly fine-tune its deliberation on the draft Petroleum Industry Governance and Industrial Framework law, PIGIF which is currently before it for legislative action.
The Shell Petroleum Development Company of Nigeria Ltd (SPDC) Joint Venture has donated modern geophysical equipment, accessories and books to the Department of Geology, Obafemi Awolowo University, Ile-Ife to uplift research and study of geosciences at the institution.
Chongqing Construction Engineering, Oilserv, Tianjin Energy, Alpha Group sign MoAs to develop Nigeria’s Oil and Gas Infrastructure
Four companies have signed eight MOAs today in Abuja for the development of several multi-billion dollar investment and infrastructure projects in Nigeria.
Egypt Petroleum Company to receive $200m Afreximbank support for electricity generation and distribution expansion
The African Export-Import Bank today in Cairo signed a $200-million loan facility agreement with the Egyptian General Petroleum Company (EGPC) to support the expansion of electricity generation and distribution in the country.
The Nigerian National Petroleum Corporation (NNPC) and Total E&P Nigeria Limited (TEPNG) joint venture has begun gas supply to the Alaoji Power Plant owned by the Niger Delta Power Holding Company within the Eastern Grid Domestic Gas market
Nigeria and Morocco have signed a joint venture to construct a gas pipeline that will connect the two nations as well as some other African countries to Europe, Nigeria's minister of foreign affairs said on Saturday.
Fourteen companies have expressed interest in developing projects using natural gas from the Rovuma Basin in northern Mozambique.
Integrated oil and gas company BP has bought a 10 per cent stake in Shorouk offshore concession located around the Mediterrarean Sea and owned by Italian company Eni, for $375 million. The stake includes the Zohr gas field estimated at 30 cubic feet.
The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to the upgrade and expansion of the Kaduna Refining and Petrochemical Company Limited (KRPC) in line with the 12 key business focus areas of the Corporation’s present management.
The African Petroleum Producers' Association (APPA) has expressed their support to the Organization of Petroleum Exporting Countries (OPEC) efforts to stabilize the oil markets, ahead of the cartel meeting scheduled next Wednesday in Vienna to implement Algiers Agreement.
Nigeria music icon, Yemi Alade, has taken the lead in spreading Shell’s #makethefuture campaign which aims to inspire youths and entrepreneurs for bright energy ideas that can help in the global quest for more and cleaner energy.
Algeria has continue to record a ballooning trade deficit occasioned by a drop in oil prices which has heralded economic problems for the North African country.
World’s biggest oil producer by market value EXXON Mobil Corp is negotiating with Chad’s government about a record $74 billion fine the oil company was told to pay last month by a court in the Central African nation for a dispute over royalties.
Shell Companies in Nigeria, supported by the NNPC, have signed an MoU with eight Nigerian banks under the refreshed Shell Contractors' Support Fund, the latest milestone in efforts to improve access to finance for Nigerian vendors and suppliers in the oil and gas industry.
The Nigerian National Petroleum Corporation (NNPC) has commenced work on a scheme to improve the quality of diesel in the Nigerian market for efficient and optimal performance of diesel-powered engines.
Shell Nigeria Exploration and Production Company and it co-venturers (ExxonMobil, TOTAL and ENI) have donated facilities including a modern test laboratory to the Nigerian Institute of Welding (NIW) at Imasabor-Ologbo, Benin City,
International Finance Corporation expresses interest in funding Ethiopia Djibouti fuel pipeline project
The International Finance Corporation, IFC, the investment arm of the World Bank has expressed interest in financing the planned Ethiopia Djibouti fuel pipeline project.
A modern e-library donated by Shell to the Port Harcourt Literary Society has opened its doors to book lovers and other literary enthusiasts.
Libya's National Oil Corporation spokesman has reported that the country's oil production rose to 670,000 bbl/day this week, up from the 363,000 bbl/day that the country produced when OPEC members representatives met in Algeria the last week of September.
Total Ethiopia has partnered with Addis Ababa Institute of Technology to tackle the indiscriminate handling, management and disposal of used oil, a major contaminant of the ecosystem. The first phase of the partnership will be though a recycling study.
Minister of Petroleum and Mineral Resources Tarek el-Molla discussed, during an Iraq visit, with Iraqi Prime Minister Haider al-Abadi means of boosting joint cooperation in the fields of oil and natural gas and establishing an Egyptian-Iraqi partnership.
Nigerian indigenous energy group, Oando PLC, listed on both the Nigerian and Johannesburg Stock Exchange, today announced unaudited results for the six months period ended 30 September, 2016, with the following highlights:
The Nigerian National Petroleum Corporation (NNPC) has said about $51 billion investment opportunities exist today in the midstream and downstream gas sector to achieve the growth phase in the Industry in Nigeria.
ExxonMobil says it has made a “significant discovery” of oil off the coast of Nigeria. The oil find is located at the Owowo offshore field located in the southern Bayelsa State.
President Muhummadu Buhari has unveiled Seven Big Wins, as part of short to medium term strategy framework with robust priorities to grow Nigeria's oil and gas sector.
Sonatrach Company has said it is interested in investing in Sudan’s field of oil and gas.
Indigenous Nigerian downstream oil and gas firm, NIPCO Plc, yesterday acquired 60 per cent equity in Mobil Oil Nigeria (MON) Plc.
World’s largest publicly traded oil company Exxon Mobil Corp has set November as the month it will start drilling its first exploratory well off the coast of Liberia.
Mozambique's National Petroleum Institute (INP) has entered into an agreement with CGG, a French company for the collection of seismic data in three regions, two of which are offshore, to facilitate exploration for oil gas in the areas.
Tullow Oil Plc’s Kenyan unit said it’s seeking trucking companies to transport crude from northwestern fields to the port city of Mombasa as the East African nation rushes to export its first oil by mid-2017.
South-Africa-based SacOil and Nigdel United Oil Company have dropped legal claims against each other over a licence in Nigeria.
Oil marketer Total Kenya has appointed five members to its board of directors bringing to three the number of independent directors that sits in its board.
In furtherance of its commitment to providing quality education for indigent students within the country, the Nigeria National Petroleum Corporation (NNPC) and Shell Nigeria Exploration and Production Company Limited (SNEPCo) have awarded scholarship to 110 secondary school students.
Shell has appointed Peter Costello to succeed Markus Droll as the company’s Vice President for Nigeria and Gabon. He will assume a new role of Executive Vice President, Projects in Shell International based in Rijswijk, The Netherlands.
The oil industry appears to be ready to open its wallet after two years of slashing investments, BMI Research, a Fitch rating company said. This came on the hopes raised in the global market over Organisation of Petroleum Exporting Countries, OPEC, group reaching an accord last week on production cut back to boost revenue.
The Petroleum Technology Association of Nigeria (PETAN) has announced the launch of the inaugural West African International Petroleum Exhibition and Conference (WAIPEC) taking place 21-23rd February 2017 at the Eko Convention Centre, Lagos, Nigeria.
BP has revealed that it had signed three concession amendments with Egypt allowing the company to develop the Nooros play.
Two years after launching a concerted effort to sharply reduce subsidy programs that had proven unsustainable to the country’s government, Egypt has announced significant progress in the reduction effort, reporting a 28.7% drop in spending during the 2015-2016 fiscal year.
Indigenous oil firm, Heyden Oil and Gas has announced over N10billion investment in its downstream retail chain, which involved acquiring and rebranding 40 filling stations in Lagos, bringing to 50, the total number of outlets in Lagos and Ogun states owned by the firm.
Libya has achieved the unthinkable: oil production in the war-torn country is actually up substantially in recent weeks, as some idled oil fields came back into operation.
Egypt is set to launch its initial public offerings in government-owned companies with oil sector businesses, aiming to collect up to $10 billion dollars within three to five years, the minister of investment said.
Oando has announced the execution of a definitive agreement with a vehicle owned by funds advised by Helios Investment Partners to acquire 49% of the voting rights in Oando’s midstream business subsidiary, Oando Gas and Power Limited
Star Oil, a leading local Oil Marketing Company with over 163 petrol stations partners with Zeepay, the fastest growing Mobile Financial Services Company to issue contactless fuel cards and offer Mobile Money Services to over 10million consumers.
For the first time since ExxonMobil declared force majeure on Nigeria’s Qua Iboe oil exports in July, the U.S. oil company is offering Qua Iboe crude cargo for October loading.
Puma Energy delivered its first cargo of bitumen to its terminal located in Calabar, South East, Nigeria. The cargo was delivered under JV with WABECO Petroleum Ltd, registered as P.E. Bitumen Resources (Nigeria) Limited.
On Wednesday, the 31st of August 2016, an agreement was signed between Cyprus and Egypt which sets out the legal framework allowing companies to commence discussions on the transport of natural gas from Cyprus to Egypt via a sub-sea pipeline.
Secretary-General of Organisation of Petroleum Exporting Countries (OPEC), Mohammad Sanusi Barkindo, has declared his support for Nigeria’s ongoing efforts to diversify the economy and expanding the agricultural sector.
According to reports published by Bloomberg, integrated energy major Royal Dutch Shell plc RDS.A expects its Forcados oil pipeline in Nigeria to restart deliveries in mid-September.
The Shell Petroleum Development Company (SPDC) operated Joint Venture has trained 15 engineering graduates from host communities of the Afam VI Power Plant at Oyigbo in Rivers State on the operation and maintenance of combined cycle power plants.
As the Vice-President of Total East Africa, Mr Javier Rielo, assured President John Magufuli that preparations for the construction of the 1,410-kilometre oil pipeline from Lake Albert in Uganda to Tanga Port in Tanzania are in good progress, DRC has shown interest in using the facility.
Shell Nigeria Exploration and Production Company (SNEPCo) achieved significant savings in the cost of subsea equipment through an initiative which has seen the refurbishment of five Subsea Trees in-country led by Nigerian engineers.
India, Spain and The Netherlands have emerged biggest buyers of Nigeria's crude oil over a 12-month period, from June 2015 to May 2016, according to a document obtained, yesterday, from the Nigerian National Petroleum Corporation, NNPC.
Transnational Corp. of Nigeria Plc suspended plans to build one of the nation’s biggest power plants as a local gas shortage makes it difficult to obtain fuel and a downturn in Africa’s largest economy hinders efforts to raise funds for the project, Bloomberg reports.
Nigeria and Spain have expressed their readiness to strengthen their bilateral trade relationship in every spectrum of the Oil and Gas Industry for the benefit of the two countries.
Shell Companies in Nigeria (SCIN) have emerged Best Exhibitor at the 2016 Nigeria Annual International Conference and Exhibition (NAICE) of the Society of Petroleum Engineers (SPE) which was held in Lagos August 2 -4.
President Muhammadu Buhari has ordered for intense search for hydrocarbon prospects in Chad Basin and the North Eastern part of Nigeria.
Nigeria’s government has launched a special fund worth US$100 million to take care of securing the credit that the oil industry of the country needs
Oando expects to report materially lower earnings for the second quarter of 2016 due to the impact of the Naira devaluation against the US dollar (“USD”), resulting in unrealized foreign exchange losses.
Nigeria LNG, operator of the giant Bonny export plant, said it has appointed Tony Attah as new managing director and CEO.Attah will take over from Babs Omotowa, who has been at the helm of the LNG operator since December 2011.
OPEC said the U.K.’s vote to leave the European Union could curb global economic growth next year, notably in Europe, where the risk is that demand for oil could fall.
The Organization of Petroleum Exporting Countries produced nearly 32.9 million barrels of oil a day in June, according to its monthly statistical bulletin.
Essar Energy Overseas Limited has announced that it will sell its entire 50 percent stake in Kenya Petroleum Refineries Ltd (KPRL) to the Government of Kenya (GoK).
Shell Companies in Nigeria spent a total of $195.5 million on social investments in the country in 2015, making Nigeria the largest concentration of social investment spending in the Shell Group.
Eni made a new significant gas discovery in the Baltim South West exploration prospect, located in the Baltim South license, in the conventional waters of Nile Delta, offshore Egypt.
Sasol’s field development plan (FDP) for the Production Sharing Agreement (PSA) licence in Inhambane province, Mozambique, has reached an important milestone with the commencement of the drilling of the first well.
The Petroleum Technology Association of Nigeria (PETAN), a foremost association of indigenous service companies has commended the pioneering role of Shell in the development of Nigerian content in the oil industry.
Technical investigation of the condition of the turret bearing on the FPSO Kwame Nkrumah has confirmed that the bearing has been damaged and is no longer able to rotate as originally designed.
Puma Energy, the global mid and downstream energy company operating in 47 countries across five continents, is officially operating in Ghana
Eni has been awarded a new exploration licence, the Cape Three Points Block 4, located in the prolific Tano basin, offshore Ghana. This acquisition will further strengthen the company’s position in the Ghanaian offshore.
The Shell Petroleum Development Company of Nigeria Ltd (SPDC) Joint Venture is producing more gas from Agbada field in the Eastern Niger Delta in support of government’s aspiration of increasing domestic gas production for manufacturing and power generation.
Africa's richest man and President, Dangote Industries, Alhaji Aliko Dangote, yesterday, dismissed fears about the impact of the fall in crude oil prices on the Nigerian economy, saying the decline would not translate to doom for the economy.
In line with today’s turbulent market landscape especially in the Oil and Gas industry, leading Communications Services Company, MainOne has urged forward-looking enterprises to gain competitive advantage by embracing digital transformation.
Willem Vis is Dutch entrepreneur, innovator and founder of Induct Industrial Contracting, located in Katwijk near The Hague,The Netherlands, but with operations reaching as far as Africa. His interview with Africa Business Communities:
An indigenous company, Integrated Oil and Gas Ltd., has been given initial license to commence preliminary work for a 20,000 capacity modular refinery in one of the islands on the coast of Lagos.
The Nigerian National Petroleum Corporation (NNPC) has unveiled plans to build a mega station in every Senatorial district of the nation, thus upping its market share in the fuel retail business from the current 12 per cent to a significantly higher number.
A Scottish Oil & Gas delegation will be visiting Ghana on 21st and 22nd of January 2016. The aim of this visit is to gain a good understanding of local market conditions and to look for potential local partners interested in enhancing their own offer by linking up with a Scotland-based company
Eni has started production from the Mpungi field in the West Hub Development Project, within Block 15/06 of the Angolan Deep Offshore, approximately 350 kilometres northwest of Luanda and 130 kilometres west of Soyo.
Everyone holds his breath as one of the most important hydrocarbon exporters on earth gears up to get back into the business. However, that’s not an easy quest for even as big an oil & gas nation as Iran undoubtedly is.
Kenya and the United States government have entered into negotiations on constructing an oil pipeline in Northern Kenya.
Music star Akon joined Shell to shine a light on the power of innovative options for access to smarter energy by unveiling Africa’s first human and solar powered football pitch at the Federal College of Education, Akoka, Lagos.
Nigeria and Angola on Saturday agreed to cooperate and also reach out to other oil producing countries in an effort to shore up the dwindling price of oil in the global market.
The Federal Government has expressed its readiness to raise funds from international investors and the private sector in 2016 to fund the Joint Venture cash calls between the Nigerian National Petroleum Corporation (NNPC) and International Oil Companies operating in the country.
Vivo Energy Ghana, the CIMG Petroleum Company of the Year 2014, has rewarded 30 customers who won various prizes including a brand new Hyundai i10 Taxi in the first mini draw of the Shell Akyede Kese Reloaded Taxi Bonanza Promotion.
The Afam VI Power Plant in Rivers State has been recognised and rewarded by the United Nations for reducing carbon emissions through environmentally friendly operations.
The youths from the four local government areas in Ogoniland - Tai, Khana, Gokana and Eleme - received the four-week training at the Songhai Farm at Bunu-Tai, where they learnt vital skills in fishery, cassava production and poultry farming.
Shell companies in Nigeria have emerged the best in Corporate Social Responsibility Innovation, and also the best in Sustainable Stakeholder Engagement at the 2015 edition of the Social Enterprise Report and Awards (SERAs) held in Lagos on Friday.