Nigeria’s crude oil production for March 2023 edged up to about 1.6 million barrels per day (mbpd), with the country recording the biggest Organisation of Petroleum Exporting Countries’ (OPEC) biggest increase last month, a survey by Reuters has revealed. At about 1.6 million, the country was able to meet the federal government’s target for the […]
Tag: Petroleum
Nigerians are being hit from all sides by a combination of factors that are making their lives increasingly difficult. These include rising cost of living which is reflected in double-digit inflation, stagnant wages, non-payment or the late payment of salaries, a cash crunch and fuel scarcity. A defining moment could come after the swearing-in of […]
Namibia has quickly risen to become a highly attractive E&P market, with three major discoveries made in 2022 and 2023 incentivizing a strong slate of regional and global players to the country’s offshore basins. Eager to maintain this exploratory momentum, Maggy Shino, Petroleum Commissioner at Namibia’s Ministry of Mines and Energy, recently stated that during […]
The warning came hours after the NLC issued notice to begin a nationwide strike on 2 August amid an astronomical hike in petrol pump prices following the removal of fuel subsidy. The Nigerian government has warned the Nigerian Labour Congress (NLC) against embarking on strike over the removal of fuel subsidy by President Bola Tinubu’s […]
The removal of subsidy on petrol has hit ordinary Nigerians harder than the government envisioned. Nigerians living in Lokoja, Kogi State recounts their experience. During his inaugural speech on 29 May, President Bola Tinubu announced that “fuel subsidy is gone”. As a result of that announcement, small business owners in Lokoja, Kogi State, have seen […]
Many farmers in Ogun State have been forced to change occupations after oil spillage caused by vandalism of NNPC pipelines destroyed their farmlands Samsom Odeyemi wistfully recalls when he was a successful farmer in his native community of Itajirin in the Ogere Remo area of Ogun State. Mr Odeyemi earned millions of naira annually from […]
Cape Town — Joshua Volz, Deputy Assistant Secretary for Europe, Eurasia, Africa, Middle East in the US Department of Energy, is in Cape Town, South Africa, for Africa Energy Week, and his first stop is Critical Minerals Africa 2023. allAfrica‘s Juanita Williams finds out how Volz and the department mean to partner with Africa’s leaders, […]
·Warns crude oil theft could frustrate oil projections by FG ABUJA- The Group Chief Executive Officer of the the Nigerian National Petroleum Company Limited, NNPCL, Mr Mele Kyari yesterday described oil theft and vandalism in the Niger Delta region as a calamity saying there are over 4,800 illegal connections on crude oil pipelines in the […]
With oil production in Nigeria falling significantly short of the budget benchmark and allotted quota of the Organization of Petroleum Exporting Countries, OPEC, in 2023, the Nigerian Upstream Regulatory Commission, NURPC, has drawn out an ambitious plan to improve production by attracting more investment into the industry. In the plan contained in a document titled: […]
Abuja — Nigeria, Africa’s biggest crude producer, drilled 30.6 million less barrels of oil in January and February compared to the quota allocated to the country by the Organisation of Petroleum Exporting Countries (OPEC) during the period, a THISDAY analysis has indicated. A review of data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for […]
Mozambique’s president says the security situation in jihadist-plagued Cabo Delgado has returned to normal and that energy giant TotalEnergies can restart its lucrative gas projects. But many locals are skeptical. The French energy company Total withdrew its workers from a multi-billion dollar liquefied natural gas (LNG) project in 2021 because of a worsening security situation […]
Fuel queues returned to Nigerian cities Monday as many motorists scrambled to get petroleum products hours after President Bola Tinubu announced that the government will put an end to the fuel subsidy regime. Mr Tinubu on Monday in his inaugural address at Eagle Square, Abuja, declared that there would no longer be a petroleum subsidy […]
Africa’s growing population desperately needs clean, modern energy in the home. Currently, more than 900 million people, 85% of the region’s population, still rely on solid biomass fuel (like wood and charcoal) and kerosene for cooking. These energy sources are highly polluting, inefficient and unsafe. Many African countries are moving to develop scalable renewable energy […]
Purchasing power of Nigerians dropped in June 2023, as the effects of the fuel subsidy removal and rising inflation continue to gather momentum, LEADERSHIP learnt. Inflation Rate for the month of May, 2023 was 22.41 per cent, which was an 18-month high while the federal government, had, in May, 2023 removed subsidy on petrol, allowing […]
Another round of tension has gripped the oil industry in the Niger Delta over the renewal of the N48billion oil pipeline surveillance contract awarded to the former leader of the dreaded Movement for the Emancipation of the Niger Delta (MEND), Chief Government Ekpemukpolo, alias Tompolo. Already, the renewal of the contract had pitched Tompolo against […]
Uganda entered into agreements in 2012 with two foreign oil entities to exploit its oil resources. Total Energies holds 56.67% of the joint venture partnership and China National Oil Offshore Company (CNOOC) has 28.33%. Through Uganda National Oil Company, the government owns the remaining 15%. Production is due to start in 2025. As part of […]