A community in the oil producing State of Nigeria has signed a Memorandum of Understanding with OnoseDeep Oil and Gas Limited, for the acquisition of an acreage for the construction of a modular refinery in the area. According to the Executive Secretary of OnoseDeep Oil and Gas Limited, Jim Elueni, the refinery when completed will produce 48, 000 barrels of refined petroleum products per...

Cyprus is to start supplying Egypt with gas as the Egypt’s Minister of Petroleum, Tarek el-Molla (photo), plans to sign a bilateral agreement with the country by early next week. Under the agreement, Cyprus will provide gas for Egypt’s domestic market as well as its LNG export facilities at Idku and Damietta.The European country plans to supply the gas to Egypt via a proposed pipeline. This...

In spite of the fall in oil revenue, due to the decline in oil prices in the global market as well as the drop in crude oil and petroleum exports, Angola still toppled both Saudi Arabia and Russia in the race to the top spot among exporters to China for the month of July. Oil is the country’s main source of generating income and according to Chinese customs data, Angola’s oil exports to...

Talks of an output freeze between members of the Organization of Petroleum Exporting Countries (OPEC) and non-members have caused a jump in crude prices, as the move raises hope for an agreement between member countries to reduce oil output and bolster prices. Members of the oil cartel are not expected to meet until November in Vienna, Austria, but informal talks will be held at Algiers’...

As preparations for the construction of the 1,410-kilometre oil pipeline from Lake Albert in Uganda to Tanga Port in Tanzania are progressing, the Democratic Republic of Congo (DRC) has shown interest in using the facility for the transportation of its crude. The proposed pipeline which will have the capacity of transport 200,000 barrels of oil per day will provide 1,500 direct employment and...

One of the key problems faced by organizations in the oil and gas industry is the issue of undetermined regulatory frameworks, according to PricewaterhouseCoopers (PwC). According to the international advisory company, African governments need to restructure their oil and gas industries in order to attract investors as the continent still offers significant opportunities in the oil and gas...

Eni’s subsidiary Nigerian Agip Oil Company (NAOC) has started the development of the Zabazaba deepwater project offshore Nigeria regardless of the low oil price environment, Vice Chairman of NAOC, Massimo Insulla revealed. Insulla disclosed this in a statement from the Nigerian Content Development and Monitoring Board (NCDMB). According to the statement, the company is however, developing the...

Nigeria’s 3-year spending plan for 2017 approved by the Federal Government sees oil price benchmark at $42.50 per barrel and production at 2.2 million barrels per day. According to Budget Minister, Udoma Udo Udoma (photo), the budget foresees oil production and prices increasing annually till 2019. Nigeria’s economy has been destabilized by the decline in the prices of crude oil in the...

Kenya’s President, Uhuru Kenyatta (photo), has disclosed that Tullow Oil Plc will make the country become part of the league of oil producing countries, as plans are ongoing to start small scale crude oil production in 2017. According to him, Tullow oil will start oil production in March 2017 and export will begin three months later.  The company will also drill eight additional...

In a study it recently released, the International Institute for Environment and Development (IIED) complained about women’s poor access to rural lands in Tanzanians despite all the positive efforts to insure gender equality in land regulation. The study depicts mainly the low number of women part of village councils and assemblies that have decision power over land transfers....