Niger Delta military exercise unnecessary

A military exercise in Nigeria’s restive southern Niger Delta oil production hub is unnecessary and government should focus on economic development, an organisation representing the region’s largest ethnic group said. The Nigerian army will carry out a training exercise from October 7 to 28 in the region, where attacks on oil installations last year cut […]

Libya Oil Output Set to Recover Following Sharara Brief Halt

By Salma El Wardany and Saleh Sarrar Libya’s oil production is set to recover from a five-month low as the North African supplier’s biggest field restarts following a brief halt. The OPEC member’s output is expected to rise to 1 million barrels a day from 800,000 within 2-3 days as the Sharara oil field restarts […]

Nigeria’s Crude Oil Exports to Surpass One-year High in August

Ejiofor Alike with agency report Nigeria’s crude oil exports are set to surpass two million barrels per day (bpd) in August, the highest in 17 months, as the country’s oil and gas industry nears a full recovery from attacks by the Niger Delta militants that crippled production in 2016. It is expected that if the […]

Will OPEC look to Nigeria for output cuts as its output recovers?

LONDON Nigeria’s last remaining shuttered oil terminal is resuming exports just days before the West African nation heads into OPEC talks – potentially awkward timing for a country that was exempt from the first round of output cuts. A second vessel, the Densa Orca, arrived on Monday at the Forcados terminal after the Astro Perseus […]

Libya Crude Output Rises as Work Conditions for Big Oil Improve

by Salma El Wardany Libya’s crude production exceeded 700,000 barrels a day and is due to keep rising as working conditions in the conflict-ridden country improve for international companies like Eni SpA and Total SA, an official from the state oil company said. The North African country’s crude production is due to reach 1.2 million […]

Libya Looks to Double Crude Oil Production by End-Year, Remove Foreign Investments Ban

By Donald Levit Libyan National Oil Corp (NOC) announced Wednesday, January 25, that the country expects to increase its crude oil production to 1.25 million barrels per day by the end of 2017. Libya’s crude oil production has deteriorated greatly due to years of internal conflict following the removal of the country’s long-time leader Muammar Gaddafi. […]

Libya’s Oil Output Is at Three-Year High and Rising

By Grant Smith and Laura Hurst Libya is pumping 715,000 barrels a day of oil, the most since 2014, and is on track to keep boosting output this year as the country restores much of the production lost amid political chaos and conflict, the state oil company’s chairman said. Blockades at the North African state’s […]

Libya won't take part in any OPEC cuts for 'foreseeable future'

Libya’s National Oil Corporation (NOC) said on Sunday it would not take part in any OPEC production cuts for the “foreseeable future” as the North African country tries to bring crude output back towards pre-conflict levels. “Libya is in such a dangerous economic situation, there is no way it can participate in OPEC production cuts […]

Nigeria loses N130m barrels of crude oil to 32 militant groups in 2016

By Sylvester Ugwuanyi The Security sub-committee of the Oil Producers Trade Section, OPTS, of the Lagos Chamber of Commerce and Industry, LCCI, has revealed that the activities of 32 militant groups in the Niger Delta region since the resurgence of militancy has robbed Nigeria of over 130 million barrels of crude oil. Vice-chairman of the […]