AfrOil - Africa Oil & Gas
Barkindo: Downstream factors play a key role in oil price volatility
Mohammad Sanusi Barkindo, the late secretary-general of OPEC, said hours before his death that constraints in the downstream sector were making a bigger contribution to the volatility of oil prices than most observers realise.
OPEC secretary-general dies in Abuja
Mohammad Sanusi Barkindo, the secretary-general of OPEC, died unexpectedly in Abuja late on July 5.
AfrOil: Shell suspends SPDC stake sale
Shell (UK) has put plans for selling its 30% stake in the SPDC joint venture on hold pending the Nigerian Supreme Court’s resolution of a lawsuit related to an oil spill in 2018.
OPEC members provide refining capacity update
Invictus Energy makes upward revision in resource estimate of Mukuyu gas field in Zimbabwe
Australia’s Invictus Energy said on July 5 that it had upgraded the prospective resource estimate for Mukuyu, one of two fields within its Special Grant 4571 (SG 4571) licence area in the Cabora Bassa basin.
Nigeria will not remove fuel subsidy, government reveals
Nigeria will not be removing its fuel subsidy, despite the high cost to the country’s budget, Information Minister Lai Mohammed said on July 4.
Nigerian gas company Tetracore aims to launch IPO by year-end
Tetracore, a Nigerian natural gas producer and distributor, has said it hopes to start listing its stock on a foreign exchange before the end of the year.
Petrofac wins contract from Tullow for FPSO operations service at Jubilee field offshore Ghana
Jersey-headquartered Petrofac said on July 4 that it had won a contract from Tullow Oil (UK/Ireland) to provide operations services for the Jubilee project offshore Ghana.
TotalEnergies rep says gas is Nigeria’s best option for low-carbon future
Victor Bandele, deputy managing director for deepwater operations at TotalEnergies Nigeria, says his company sees natural gas as Nigeria’s best option for expanding access to electricity while minimising carbon emissions.
NUPRC head says Nigerian companies should see IOCs’ divestments as an opportunity
Gbenga Komolafe, the head of the NUPRC, has urged Nigeria’s largest independent oil companies to take advantage of opportunities that are emerging because of foreign investors’ decisions to divest.
Nigeria could witness ‘mother of all queues’ due to fuel debts, retailers warn
The Independent Petroleum Marketers Association of Nigeria has warned that Nigeria could witness “the mother of all queues” if the government fails to pay money owed to the oil sector.
CBN says rising crude prices are not helping Nigeria due to sluggish oil revenues, high gasoline subsidies
The Central Bank of Nigeria (CBN) says the rise in world crude oil prices is not benefiting the government’s finances, as spending on domestic gasoline subsidies is rising more quickly than oil revenues.
Shell follows Nigerian Supreme Court’s order and suspends SPDC stake sale
Shell has put plans for selling its 30% stake in the Shell Petroleum Development Corp. (SPDC) JV on hold pending the Nigerian Supreme Court’s resolution of a lawsuit related to an oil spill in 2018.
SDX Energy reports on spudding of MSD-23 infill development well at Meseda Field at West Gharib in Egypt
SDX Energy reports that the MSD-23 infill development well has been spudded at the Meseda Field, located within the West Gharib concession.
Nigeria’s UTM Offshore aims for FID on Yoho FLNG project in Q2-2023
Nigeria’s UTM Offshore is looking to make a final investment decision on a floating LNG project at the Yoho offshore oilfield in the second quarter of 2023.
Duport modular refinery set for launch
New analysis shows ‘worrisome’ jump in methane emissions with Turkmenistan, Algeria showing steep increases
Towards a new gas tax regime for Angola LNG
Angola’s president has been authorised to reduce tax rates on Angola LNG's purchases of natural gas, which is currently a less attractive feedstock than associated gas.
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