Petroleum

Tokyo/London — Oil prices fell 1% on Tuesday, weighed down by the protracted US-China trade dispute that has dragged on the global economy as well as rising Opec and Russian oil output. US crude was down 65 US cents, or 1.19%, at $54.45 a barrel by 8.57am GMT, while Brent …

A truck loaded with crude oil en route to Mombasa from the oilfields in South Lokichar. Kenya has joined the league of Africa oil exporters after its first consignment of 200,000 barrels fetched $12 million on Thursday afternoon. That means the sweet light crude sold at $60 per barrel, an …

Abuja — The Nigerian National Petroleum Corporation (NNPC) is to amend its planned northern corridor gas supply line to extend up to Algeria from Kano, a distance of over 2000 kilometres according to calculations by Google map. The corporation also stated that it was making progress in its search for …

The Ministry of Mines and Hydrocarbons of Equatorial Guinea (MMIE.gob.gq), Kosmos Energy (KosmosEnergy.com) of the US and national oil company GEPetrol have signed three new production sharing contracts (PSC) for Block EG-21, Block S and Block W offshore Rio Muni. The deal marks Kosmos’ first PSCs in Equatorial Guinea. Kosmos …

 Get source logo LUANDA, Angola, December 21, 2018/APO Group/ —Reforms span from changes in tax law to changes in concession contracts and the opening of marginal fields to African independents. Key measures include the formation of upstream and downstream taskforces, the privatization of some Sonangol subsidiaries, and the creation of a …