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Angola overtakes Nigeria as Africa's largest oil producer

Angola targets 1.57 mbd oil production in 2019

  Angola’s oil production, Africa’s second largest, is set to rise to 1.57 million barrels per day (mbd) in 2019, from 1.52 mbd this year, as new blocks come on...

NSCDC to boost inter-service collaboration against oil theft

NSCDC arrests 11 over oil bunkering in Abia

The Nigerian Security and Civil Defence Corps (NSCDC) Abia State Command has arrested 11 persons for allegedly engaging in illegal oil bunkering. The State Commandant,...

U.S. crude oil shipments to China halts amid trade war

Oil jumps ahead of U.S. sanctions on Iran

Crude oil prices on Wednesday jumped more than 1 percent as markets braced for the imposition of U.S. sanctions on Iran next week and as stock markets clawed back some...

Yemi-Osinbajo

Nigeria earned $1.1tr from oil in 28 years

Nigeria made over $1.1 trillion from oil in 28 years, Vice President Yemi Osinbajo, said at the weekend. According to him, corruption and the lack of will to diversify...

South Sudan boosts oil output by 70,000 bpd

Iraq to continue with planned oil, gas capacity boost

Iraq will proceed with plans to increase oil and gas production capacity, Oil Minister, Thamer Ghadhban said, according to an emailed statement from his ministry on...

South Sudan boosts oil output by 70,000 bpd

Saudi signs $50bn agreements in oil, gas infrastructure

Saudi Arabia on Tuesday signed deals worth more than $50 billion in oil, gas, infrastructure and other sectors at an investment conference in Riyadh, officials there...

Maikanti-Baru-NNPC

Oil boom, the greedy few and crushing burden of subsidy

For the first time in two years, oil prices have risen steadily from $30 per barrel to a little over $80 per barrel. In addition, crude oil production is proceeding...

Oil washes ashore in France after ship collision

Oil washes ashore in France after ship collision

Some of France’s spectacular Riviera beaches have been shut as volunteers with shovels and sacks try to rid the coastline of a thick oily residue that washed ashore...

Iranian tanker discharges oil in China ahead of U.S. sanctions

Iranian tanker discharges oil in China ahead of U.S. sanctions

A vessel carrying 2 million barrels of Iranian oil discharged the crude into a bonded storage tank at the port of Dalian in northeast China on Monday, according to...

Crude oil dips over demand concerns

Oil falls as U.S. mulls waivers on Iran crude sanctions

Brent crude oil prices on Monday fell more than 1 percent after the United States said it may grant waivers to sanctions against Iran’s oil exports next month. This is...

Nigeria’s Oil, gas export sales up by 36%

Nigeria’s Oil, gas export sales up by 36%

The Nigerian National Petroleum Corporation (NNPC) says a total of crude oil and gas export sales of $416.07 million was realised in June, which is 35.78 per cent higher...

Crude oil dips over demand concerns

Oil dips as Saudi, Russia agree on output hike

Crude oil prices slipped on Thursday from four-year highs reached the previous session, pressured by rising U.S. inventories and after sources said Russia and Saudi...