Tag Archives: OPEC

Nigeria: 2012 Budget and Matters Arising

October 20, 2012 by IndepthAfrica

By Kabir Mato, Daily Trust opinion Last week, President Goodluck Jonathan presented the 2013 budget estimates before a joint session of the National Assembly even in the hill of protests by the parliamentarians that less than 30% of the 2012 … read more »

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Nigeria Energy Profile: Oil And Gas Development Constrained By Niger Delta Instability

October 17, 2012 by IndepthAfrica

By: EIA Nigeria is the largest oil producer in Africa and has been a member of the Organization of Petroleum Exporting Countries (OPEC) since 1971. In 2011, Nigeria produced about 2.53 million barrels per day (bbl/d) of total liquids, well … read more »

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Nigerians search wreckage after plane crash kills 153

June 4, 2012 by IndepthAfrica

Nigerian emergency services pulled more bodies out of the still-smouldering, ash-covered wreckage of a plane on Monday that crashed in the commercial hub Lagos, killing all 153 people on board. President Goodluck Jonathan has declared three days of national mourning … read more »

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Ex-oil chief who tried to reform Gaddafi’s Libya dies

April 30, 2012 by IndepthAfrica

Shokri Ghanem, Libya’s former prime minister and oil chief, saw it as his mission to change his country from the inside, only to realise too late that Muammar Gaddafi would never accept any meaningful reform. Ghanem died in Vienna, at … read more »

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Outcry over Nigerian gas leak

April 15, 2012 by IndepthAfrica

Lagos – French oil firm Total SA said on Saturday that a natural gas leak at one of its plants in Nigeria’s crude-rich southern delta may have been going on for weeks. The leak at its Obite natural gas site … read more »

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Nigeria President asks parliament for support to borrow $7.9B for pipeline project

February 14, 2012 by IndepthAfrica

ABUJA, Nigeria — Nigeria’s president has asked lawmakers to approve a plan to borrow $7.9 billion for a pipeline project in the oil-rich nation. In a letter received Tuesday at the National Assembly, President Goodluck Jonathan asks the Senate president … read more »

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‘Unprecedented’ EU Sanctions on Iran a Farce

January 24, 2012 by IndepthAfrica

The European Union has agreed to an “unprecedented” set of sanctions against Iran, banning the importation of Iranian oil to its member states while also imposing currency and commodity sanctions on Iran’s central bank. But far from forcing Iran into … read more »

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Algeria leaders have lost touch, risk anger: review

December 29, 2011 by benim

Algeria’s leaders are out of touch with their people who are growing increasingly angry about unemployment, red tape and poor housing, said a senior official carrying out a presidential review of the country’s economic and social woes. “Demands for radical … read more »

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Oil flows again in Libya

October 17, 2011 by benim

Tripoli – Libyan oil production has resumed more quickly than expected, but the country still has enormous political and technical obstacles to surmount before the situation returns to normal, experts said. “The market should be ready for Libyan crude,” said … read more »

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Libya plans shake-up of oil sector

September 8, 2011 by benim

Libya’s interim government is drafting a proposal that would shrink the responsibilities of the National Oil Corp (NOC) to make it a purely commercial organisation, a member of the interim government has told Reuters. The North African country is trying … read more »

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Judges refuse to dismiss Nigerian terror case in Netherlands

September 5, 2011 by benim

Judges refused on Monday to dismiss a terrorist case against a Nigerian activist charged with conspiring to attack oil pipelines in his homeland as well as people smuggling and fraud. Sunny Ofehe, a Netherlands-based activist who campaigns to bring peace … read more »

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Libya’s rebel oil firm Agoco says all refineries shut

August 28, 2011 by benim

All five of Libya’s refineries are offline due to a lack of crude oil production and damage to facilities, the rebel oil firm AGOCO said on Saturday, leaving rebel forces wholly reliant on fuel imports. “No refineries are working. They … read more »

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Libyan rebels say key oil town within their grasp

August 11, 2011 by benim

Libya’s rebels said on Wednesday they were on the verge of capturing the coastal oil town of Brega, in what could be a decisive step toward unlocking the country’s oil wealth and forcing out Muammar Gaddafi. “This is the most … read more »

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Libya remains silent about new oil chief

June 3, 2011 by benim

Tripoli – The government of Muammar Gaddafi said on Friday it had not yet named a new Libyan oil chief to replace the top energy official who defected this week. Gaddafi’s government has said it will name a candidate in … read more »

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Nigerian parliament passes wealth fund bill

May 18, 2011 by benim

Nigeria’s House of Representatives passed a bill to create a sovereign wealth fund on Tuesday, paving the way for Africa’s biggest oil exporter to improve its management of often-squandered crude oil earnings. The bill now needs to be signed by … read more »

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Nigerian oil delta militants say ‘surrendered’

May 17, 2011 by benim

A renegade militant group targeted in recent days by Nigerian troops in the southern oil producing delta on Monday said it had surrendered, but the military said it was unaware of such a declaration. The military last week said it … read more »

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Shell restarts production at major oil field off Nigeria

April 14, 2011 by benim

Shell has resumed production at its Bonga oil field off the coast of Nigeria after shutting the 200,000 barrel-per-day facility in February for maintenance, the company said Thursday. Shell “resumed production at Bonga yesterday after completing the scheduled statutory inspection … read more »

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Oil jumps above $106 amid fierce Libya fighting

March 7, 2011 by benim

Oil prices rose to above $106 a barrel Monday in Asia as investors worried intense fighting between Libyan government forces and rebels suggested the OPEC nation faces a prolonged cut to its crude exports. Benchmark crude for April delivery was … read more »

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Arrested Nigeria militant in unknown location: lawyer

December 22, 2010 by benim

A lawyer acting for more than 60 militants arrested last month said on Wednesday the militant gang leader and two of his followers were removed from prison by the secret service last week. Nigeria’s armed forces on November 20 arrested … read more »

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Nigeria militants claim attack on oil facilities

December 18, 2010 by benim

LAGOS — Militants on Saturday claimed to have attacked three pipelines operated by the US oil giant Chevron and Italian firm Agip in Nigeria’s oil hub. The Niger Delta Liberation Force (NDLF) said it staged the attacks on Friday in … read more »

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Nigerian militants deny army raid in oil delta

November 22, 2010 by benim

Nigeria’s main militant group said on Monday that one of its commanders arrested over the weekend had surrendered in return for the promise of a financial reward and denied that the army had raided his camp. The emailed statement from … read more »

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Nigerian army: Gang leader arrested in kidnappings

November 20, 2010 by benim

The Nigerian army has arrested a militant gang leader believed to be behind the kidnapping of 19 people, authorities said Saturday. Fifty-one of his followers were also arrested, said Lt Col Timothy Antigha, a spokesman for the military taskforce in … read more »

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Nigeria: MEND claims responsibilty for kidnapping seven

November 17, 2010 by benim

The Movement for the Emancipation of the Niger Delta, (MEND), said on Tuesday it was behind an attack on an Exxon Mobil oil platform and it had kidnapped seven Nigerian workers, the second of such raids in a week. Armed … read more »

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Libya orders US diplomat to leave: reports

November 8, 2010 by benim

Libya has ordered a diplomat at the United States embassy in Tripoli to leave the country within 24 hours for breaching diplomatic rules, two Libyan newspapers reported on Sunday. The Libyan authorities gave no confirmation of the reports while a … read more »

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Jesse Jackson calls for Africa reconstruction plan

November 2, 2010 by benim

LAGOS, Nigeria — U.S. civil rights leader Rev. Jesse Jackson called Tuesday for an African version of the Marshall Plan, saying the continent deserved reconstruction and assistance similar to that given to postwar Europe after the years of “colonial rape” … read more »

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