Latest Stories

Nigerian government issues sovereign guarantees for Chinese pipeline credit

9 March 2020

Nigeria’s federal government has pledged to provide a sovereign guarantee covering most of the costs of building the Ajaokuta-Kaduna-Kano (AKK) natural gas pipeline.

South Sudan’s practice of advance oil sales draws criticism

9 March 2020

One of the factions in South Sudan’s new coalition government has called for changes in the way Juba handles revenues from crude oil production.

Nigerian independent prepares to commission first phase of modular refinery

9 March 2020

Nigeria’s Waltersmith Refining & Petrochemical (WR&P) has said it expects to complete the first phase of a modular refinery at the Ibigwe oilfield in Imo State ahead of schedule.

Europe’s plan to introduce a carbon import tax is forcing Russia to go green

8 March 2020

Europe wants to be carbon neutral by 2050, and is about to introduce a carbon import duty that is already forcing Russia’s biggest companies to speed up their efforts to go green.

OPEC+ talks with Russia collapse, oil prices tank

8 March 2020

Talks between OPEC and Russia on a new production cut collapsed on March 6, sending oil prices tumbling to under $50. The Kremlin says it is “comfortable” with the current price and has started a price war designed to undermine the US.

MACRO ADVISOR: Oil War: Who will blink first?

8 March 2020

When Russia refused to back Saudi Arabia’s proposal for a deeper oil production cut in Vienna on March 6, it effectively fired the first shot in what looks like being an expensive and prolonged oil price war.

ING: The OPEC+ break-up: It’s not you, it’s me

8 March 2020

OPEC+ knew they had to surprise the market, and that is what they did. Although the surprise was failing to come to a deal, rather than cutting more than expected. $30 oil here we come...

Pemex’s fortunes remain precarious

6 March 2020

The NOC has continued to avoid further ratings downgrades, but it is still facing substantial risks.

Dominican Republic’s only refinery begins exporting IMO-compliant fuel oil

6 March 2020

The Dominican Republic’s only oil refinery has begun exporting very low sulphur fuel oil (VLSFO) that complies with IMO 2020 marine fuel standards.

Aruba, PdVSA subsidiary strike deal on transfer of San Nicolas refinery

6 March 2020

The government of Aruba is one step closer to terminating its agreement with an affiliate of Venezuela’s national oil company (NOC) PdVSA on the resumption of operations at the island’s only oil-processing plant.

Ecopetrol chief says virus outbreak has not reduced oil deliveries to China

6 March 2020

Felipe Bayon, the CEO of Colombia’s national oil company (NOC) Ecopetrol, said earlier this week that the coronavirus outbreak had not affected crude shipments to China and other Asian markets.

Brazil unlikely to auction the remainder of the “transfer-of-rights” zone before 2021

6 March 2020

The Brazilian government has said it is unlikely to unload the remainder of its production rights to the Cessão Onerosa (Transfer of Rights, or TOR) oil-bearing zone for at least one more year.