Oil & Gas

International oil companies operating in Nigeria may be dodging taxes by claiming capital allowances without a Certificate of Acceptance of Fixed Assets (CAFA). The committee looking into the Structure and Accountability of the Joint Venture (JV) Business and Production Sharing Contracts (PSCs) was looking into Shell Petroleum Development Company of…

The sector of mineral fuels, oils, and distillation products produced over 80% of Nigeria’s export value in 2019, accounting for over $47 billion dollars. There are 7,296 oil wells in Nigeria, run by 74 companies and one unknown entity. The companies comprise of both local and international companies.  Nigeria has…

Mohammad Sanusi Barkindo, Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC), was announced dead on the 5th of July 2022. This followed his short visit to Nigeria’s President, Mohammadu Buhari. The death, which was announced via a tweet by the managing director of the Nigerian National Petroleum Corporation (NNPC),…

Successful entrepreneurs are known for diversifying their assets to cover a wide range of vital industries with great economic value. Dr Ambrose Bryant Chukwuemeka Orijako, popularly known as ABC Orijako is one of them. He is a medical doctor turned business mogul and billionaire with holdings in a variety of…

Oil producing African countries relies on crude oil exports for a substantial percentage of their revenue. The Middle East, Asia, and North America are the world’s major oil-producing countries, and these are the locations most often associated with oil production. A few African countries, also produce considerable amounts of crude…

African countries make up five of the world’s top thirty largest oil reserves. In 2019, the continent produced over 7.9 million barrels per day, accounting for around 9.6% of global output. In 2020, the continent’s crude oil reserves were about 6.9 million barrels per day, while in 2021, it was…

Sonangol’s restructuring process prioritizes financial stability, with the company looking at bringing the national oil company to the stock exchange.

The Company has successfully completed the regulatory processes for the change of name.

The second virtual session of the U.S.-Africa Energy Forum 2021 implored U.S. investors and policymakers to take a leading role in financing and supporting Africa’s clean energy transition.

Delivered by HE Mohammad Sanusi Barkindo, OPEC Secretary General, at the 30th Meeting of the Joint Ministerial Monitoring Committee (JMMC), 1 June 2021, via videoconference.