Oil & Gas

As the cost of living continues to increase, UK retailers are raising concerns about another pressing issue; the skyrocketing cost of cooking gas. Industry insiders warn that unless government intervention occurs soon, a 12.5kg cooking gas cylinder could cost up to N18,000 by December. Olatunbosun Oladapo, the President of the…

President Bola Tinubu had earlier revealed plans to roll out compressed natural gas (CNG) buses as a solution to ease the burdens created by the removal of fuel subsidies in May 2023.   Tinubu said, “Part of our program is to roll out buses across the states and local governments for…

The delicate balance of Namibia and Botswana ecosystems faces an imminent threat as oil drilling operations encroach upon their territories.  This is because the government of both Namibia and Botswana licensed a Canadian firm, Reconnaissance Energy Africa, ReconAfrica, to prospect for oil in the Cubango Okavango River Basin, in an…

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.