Nigeria’s oil production has slipped below the 1 million barrel per day mark, according to new data from the upstream regulator. The decline in August has seen Nigeria fall to fourth largest producer in Africa, from first.
Amid mounting opposition from some investors to its proposed merger with Tullow Oil, Capricorn Energy is “assessing all options to maximise value for shareholders”.
In the more than a quarter century since Shell Plc left Ogoniland in southern Nigeria, oil has continued to ooze from dormant wellheads and active pipelines, leaving the 386-square mile kingdom’s wetlands shimmering with a greasy rainbow sheen, its once-lush mangroves coated in crude, well-water smelling of benzene and farmlands charred and barren.
Eni CEO Claudio Descalzi has held talks with Abdel Fattah al-Sisi on increasing investments in Egypt, upping gas exports and domestic renewable energy.
The major Dangote Refinery project, near Lagos, will come on stream “latest by the middle of next year”, Nigerian National Petroleum Corp. (NNPC) head Mele Kyari has said.
Libya’s National Oil Corp. (NOC) chairman Farhat Bengdara has visited the heads of Eni and TotalEnergies in their home offices, seeking new investments.
Petronas has officially transferred its stake in two Gambian blocks to Australian minnow FAR, which will now seek a new partner to support exploration.
Shell, ExxonMobil, Chevron and Equinor plan to withdraw multibillion-dollar lawsuits against Nigeria’s state energy company after finalizing new terms for deep-water oil production in Africa’s largest crude producer.
Malaysian state oil company Petroliam Nasional has started inviting bids for its upstream assets in Africa, which could fetch as much as $3 billion, people with knowledge of the matter said.