Oil and Gas Update

  • Nigeria’s oil output aligns with quota as OPEC raises its 2020 outlook
    by Editor on January 19, 2020 at 8:19 pm

    A rise in oil demand growth this year will be offset by a sharper increase in non-OPEC supply, OPEC said in its monthly oil market report published yesterday, even as Nigeria’s crude production last month, aligned with its quota of 1.77 million barrels daily (b/d), according to secondary sources. Oil demand growth for 2020 was… The post Nigeria’s oil output aligns with quota as OPEC raises its 2020 outlook appeared first on Energy News | Oil and Gas News. […]

  • Ghana loses over $200m in downstream petroleum revenue annually – VP
    by Editor on January 19, 2020 at 8:15 pm

    The Vice President, Dr Mahamudu Bawumia, has said that the country loses over 200 million dollars per annum in tax revenues due to illicit activities in the downstream petroleum sector. He said the illicit activity, which comes in the form of illegal bunkering, smuggling of petroleum products, and dumping of products meant for export on… The post Ghana loses over $200m in downstream petroleum revenue annually – VP appeared first on Energy News | Oil and Gas News. […]

  • Senegalese-American singer Akon plans to develop eco-friendly city
    by Editor on January 19, 2020 at 8:13 pm

    Following a memorandum of understanding signed with the Company for the Development and Promotion of Senegal’s Coasts and Tourist Zones (Sapco), Akon, the Senegalese-American hip-hop star, has committed to building an ecological city in Mbodième, Senegal. Akon City is the new label that Akon, the Senegalese-American music star, is carrying. He has just committed himself… The post Senegalese-American singer Akon plans to develop eco-friendly city appeared first on Energy News | Oil and Gas News. […]

  • Zenith overcomes ‘major hurdle’ in acquisition of AAOG Congo
    by Editor on January 19, 2020 at 8:09 pm

    Shareholders of Anglo African Oil & Gas (AAOG) have approved the sale of an 80 percent stake in its subsidiary Anglo African Oil & Gas Congo to London-listed oil firm Zenith Energy. Zenith Energy said on Monday that the shareholders of AAOG had passed a resolution to approve the sale to Zenith at a general… The post Zenith overcomes ‘major hurdle’ in acquisition of AAOG Congo appeared first on Energy News | Oil and Gas News. […]

  • Zakhem, the contractor for Kenyan oil pipeline, suffers financial blow
    by Editor on January 19, 2020 at 7:56 pm

    Lebanese firm Zakhem Construction, which constructed the 450-kilometre Mombasa-Nairobi oil pipeline suffered a financial blow, following a court order that has allowed consultancy Quality Inspectors to recover Sh170 million from its accounts held at Stanbic Bank. Last month, Justice David Majanja allowed Quality Inspectors to recover the money, but court proceedings now show that Zakhem… The post Zakhem, the contractor for Kenyan oil pipeline, suffers financial blow appeared first on Energy News | Oil and Gas News. […]