Data from the Nigerian National Petroleum Corporation (NNPC) has revealed that the country made $2.27 million from gas sales in March 2016. According to NNPC in its Monthly Financial and Operations Report for March, while $2.27 million was made from gas sales, $88.364 million was earned from crude oil export and $51.229 million from other receipts. In total, revenues...

As part of efforts to increase the distribution of fuel in Nigeria, Delmar Petroleum Company Limited has begun the construction of a $200 million terminal and jetty situated at Itak Idim Nne Ekpe, Ibeno Local Council Area of Akwa Ibom State. According to the Chairman and Group Managing Director of Delmar Group of companies, Austin Atimoh Odili, the petroleum Terminal and Jetty includes the...

The United States’ crude oil import from Nigeria and Angola has risen from the 190,000 bpd recorded in Q1 of 2015 to 354,000 bpd in Q1 of 2016, the Organization of Petroleum Exporting Countries (OPEC) revealed in its June edition of the oil and gas report. The import destination report of the Nigerian National Petroleum Corporation (NNPC) revealed that U.S imported about 949,361 barrels in...

In Kenya, consumers will have to pay more for the purchase of fuel at the pump as the Energy Regulatory Commission (ERC) in its monthly review increased the retail prices of petrol, kerosene and diesel for the next one month. This change is to take effect from June 15 to July 14, 2016. The ERC raised the maximum retail price of petrol in Nairobi, by 2.3% to 86.17 shillings per litre. The...

DualEx Energy International has announced that it is withdrawing from the Bouhajla Permit in Tunisia as the Department of Energy has refused to grant any additional extensions to the primary term of the permit. Last year, the Consultative Committee of Hydrocarbons (CCH) formally approved the Company's request for an extra one year extension to the first exploration period of the onshore Bouhajla...

In a report published on June 14, the International Energy Agency (IEA) has estimated that global oil consumption will be higher than expected in 2016 and 2017 as oil production slumps. With this, the market should recover its balance in the second half of this year. Throughout 2016, the global demand for oil should grow by 1.3 million barrels per day (mbdp) against a previous forecast of 1.2...

Morocco’s capital markets authority (AMMC) has announced, in note published on June 10, the upcoming listing of the public port operator Marsa Maroc by the end of June 2016, in the framework of a partial privatization plan. The operation, which will be the first IPO on the Casablanca Bourse since the beginning of the year, concerns 40% of the capital of this firm that operates most of the...

Has the Ivorian Cocoa and Cashew Council (CCA) finally ended its story with Malamine Sanogo ? That is the question that emerges as it has appointed Adama Coulibaly as interim director general. Previously deputy director general in charge of cotton, Mr Coulibaly comes to replace Malamine Sanogog who was relieved of his position on May 26, 2016 after an audit conducted by Deloitte revealed...

Renewable energy will contribute to 70% of Europe’s energy production, by 2040. This was revealed in the “New Energy Outlook 2016” study conducted by Bloomberg New Energy Finance. In 2015, renewable’s share in the old continent’s energy mix was 32%. In USA, renewable’s share in the energy mix will increase from 14%, in 2015, to 44% in 2040. However, despite shale gas’ boom, the...

BP Group has invested over $27 billion in Angola and is still planning to invest more in research and hydrocarbon development in the country over the next decade, BP Angola a subsidiary of the group revealed. Angola is one of BP’s four best profitable high-margin regions that contributes an extremely high share of its profits and are the focus for growth. BP Angola is the operator of...