oil

Nigeria, Africa’s largest oil producer, has seen a significant boost in its crude oil output in December 2023, signaling improved earnings from the vital resource. According to the latest Monthly …

Shell, the British energy giant, has agreed to sell its onshore oil and gas business in Nigeria to a consortium of mostly local companies for up to $2.4 billion, ending …

Libya’s oil production has been disrupted once again by protesters demanding public services and development projects in the south of the country. The National Oil Corporation (NOC) declared a force …

Exxon Mobil Corp, the largest U.S. oil producer, reported a drop in its fourth-quarter earnings on Thursday, as it wrote down $2.5 billion of assets in California and faced lower …

The price of oil climbed higher on Wednesday after President Joe Biden said he would replenish the Strategic Petroleum Reserve (SPR), the world’s largest emergency oil stash. Biden’s decision came …

The long-running dispute between Libya’s state-owned National Oil Corporation (NOC) and the United Arab Emirates-based Trasta Energy over the Ras Lanuf oil refinery is set to resume before an arbitration …

Angola, Africa’s second-largest oil producer, has announced its decision to leave the Organization of the Petroleum Exporting Countries (OPEC), a move that could have significant implications for the global oil …

Nigeria, one of the largest oil producers in Africa, is facing a potential threat to its oil revenue as the US shale oil industry is expected to rebound in 2023. …

Uganda is gearing up to start producing oil by 2025, but the ambitious plan faces many challenges and controversies. The country has discovered about 6.5 billion barrels of crude oil …

The ongoing war between Russia and Ukraine has disrupted the global oil market, affecting Nigeria’s crude exports to Asia. However, Nigeria has also benefited from the increased demand from Europe, …