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Fitch Ratings has cut its short and medium-term oil and natural gas price assumptions in expectation of very large market oversupply in 2020.
Nigeria will reportedly join Saudi Arabia in selling its oil at a significant discount to Brent, one of the world’s main benchmark crudes.
Many cities and towns in Sudan have continued to report fuel shortages, despite the government’s efforts to improve supply conditions.
Uganda’s government has officially tasked a state-owned business, Uganda National Oil Co. (UNOC), with selling bulk quantities of imported petroleum products to local retailers.
Tanzania’s Energy Minister Medard Kalemani said last week that the country’s fuel inventories were capable of covering domestic demand for at least two months.
Liberia’s government has indicated that it wants international oil companies (IOCs) to team up with local partners in the country’s upcoming offshore licensing round.
African oilfield service operators deserve support from the governments of African oil and gas-producing states, a Johannesburg-based industry association has argued.
South Sudan’s government has postponed the country’s first licensing round.
New contracts awarded for services related to the Mozambique LNG and Coral South FLNG projects mark steps forward for both facilities in an increasingly uncertain market.
The continued fall in oil prices is already having an impact on Nigeria's economy, and there is probably more trouble ahead.
The government of Nigeria’s Rivers State is mooting plans for the construction of multiple new modular refineries, saying that such facilities might help deter and reduce the theft and illegal processing of crude oil.
The Zimbabwe Energy Regulatory Authority (ZERA) has pledged to revise new licensing requirements for retail sellers of refined fuels, following complaints from a key player on the domestic petroleum product market.
Libyan oil production has met another grim milestone by falling below the threshold of 100,000 barrels per day
Algerian President Abdelmajid Tebboune has ordered his government to prepare a supplementary budget to help guard the country’s economy against the steep drop in crude oil prices.
Africa and Latin America-focused Tullow Oil has taken steps to guard against fluctuations in oil prices but still faces risks in the long term.
The head of Angola’s largest fixed-income fund manager said last week that his country’s government would have to act quickly to counter the impact of falling oil prices.
The downturn in world oil prices is already having an impact on fuel markets in Africa. This article offers a brief look at recent developments in four African states.
Nigeria’s Dangote Industries Ltd (DIL) has outlined plans for the construction of a high-capacity subsea pipeline capable of handling more than 31bn cubic metres per year of associated gas from offshore oilfields.
Uganda’s National Environment Management Authority (NEMA) has acknowledged CNOOC Uganda, a subsidiary of China National Offshore Oil Corp. (CNOOC), for its completion of a report on plans to develop the Kingfisher oilfield.
The collapse of the OPEC-plus deal highlights Nigeria's vulnerability.
Several South African businesspeople said during the Africa Gas Forum in Cape Town last week that their country had the potential to benefit from the development of natural gas resources in Mozambique.