Trending
- How transition finance can catalyse Africa’s green industrial revolution
- Stanbic PMI Report: Mixed performance as Kenya’s agriculture, construction offset manufacturing decline
- Uganda’s land management gets a tech makeover to boost transparency
- Nigeria’s output dips fastest in 19 months on a sharp rise in costs
- Apple faces growing backlash over Congo exploitation
- Why East Africa is staring at higher wheat prices in 2025
- Nairobi Gate SEZ pumps $7 million into Kenya’s agro-processing industry
- What impact will the US election have on Africa?
Browsing: Oil in Nigeria
- The construction took over 20 years and bears a processing capacity of 650,000 barrels per day 250,000 per day of gasoline and 100,000 of diesel.
- The Dangote oil refinery might halt the decades-long gasoline trade from Europe to Africa worth $17 billion each year.
Dangote Oil Refinery
Aliko Dangote, Nigeria’s and Africa’s wealthiest man ambition to foster energy reliance in his motherland and the region at large might be at risk. The giant oil refinery which is said to possess the potential to end decades-long gasoline trade from Europe to Africa worth $17 billion a year.
Concerns and tensions are high as a myriad of issues emerged before and since the $ 20 billion refinery came to life. According to various news reports, including the BBC and Reuters, the construction began in 2016 and started producing diesel and aviation fuel in January this year as petrol is expected to …
- How Niger-Benin dispute mar $400 Million oil exports deal with China
- Tensions between neighbouring West African nations Benin and Niger are escalating amid a deepening dispute over oil exports.
- Further, Niger accused Benin of kidnapping five of its nationals.
Niger-Benin dispute
Peace in West Africa is becoming scarce as Niger and Benin dispute takes a different shift forcing Niger to consider routing its crude oil pipeline (1,930 kilometer) stretching from Agadem oil field to the port of Cotonous in Benin.
Niger’s ambition to become an oil exporting nation is threatened by internal security crisis and a diplomatic dispute with neighbor Benin. The conflict is a product of last year’s coup that toppled the West African nation’s democratic government.
According to information from Africa News, It was designed to help the oil-rich but landlocked Niger achieve an almost fivefold increase in oil production through a $400 million deal signed in April …
- In Berlin, German Chancellor Olaf Scholz says his country will invest 4 billion euros in Africa’s green energy until 2030.
- Scholz made the green energy plans after meeting African leaders and heads of international organizations during the G20 Compact with Africa conference.
- Compact with Africa was initiated by Germany in 2017 during its presidency of the G20 to improve conditions for sustainable private sector investment and investment in infrastructure in Africa.
The government of Germany has pledged to invest $4.37 billion (4 billion euros) in Africa’s green energy until 2030. German Chancellor Olaf Scholz made the announcement at a press conference in Berlin after meeting African leaders and heads of international organisations including the President of the African Development Bank (AfDB) Group Dr Akinwumi Adesina, during the G20 Compact with Africa conference.
The Compact with Africa was initiated by Germany in 2017 during its presidency of the G20 to improve …
The second issue the MoU covers is building capacity on health and safety standards, which is another key disqualifier marked on local companies when competing with global actors in the oil and gas market.
Further, the MoU brings onboard knowledge to help the local technocrats, upcoming companies, and experts submit and succeed at various tenders offered on the international markets. In most cases, local companies have lost tender bids to experienced foreign companies.
“We need the local players to understand deeply about these oil and gas related tenders and deliver within the internationally recognized standards”, He added.
The ATOGS chief didn’t hold back his grand ambition to transform Tanzania’s business operations for the greater good, highlighting Nigeria’s success story.…
- Uganda, Kenya, and Tanzania are building their oil and gas economies at a very fast pace
- Algeria is Africa’s leading natural gas producer, with almost 2.4 trillion cubic meters of proven reserves
- Nigeria is Africa’s largest oil producer, and Africa accounted for approximately eight per cent of the global oil output in 2020
When it comes to oil and gas in Africa, there is plenty of potential to produce enough energy on the continent.
Africa accounted for approximately eight per cent of the global oil output in 2020. Similarly, at least 330 million metric tonnes of oil will be produced in Africa in 2020 (Statista). Global oil and gas players such as ExxonMobil, Shell, Equinor, and BP are pushing the continent forward.
The energy sector in East Africa is rapidly expanding its commercial potential thanks to Tanzania. The EACOP pipeline, upstream offshore gas projects, LNG project discussions, and various renewable …
Tanzania has been ambitious from day one to strike oil. However, it took a while to find oil deposits, and it will take time to commercialize the oil discovered—a tedious but necessary process.
Oil and gas exploration in Tanzania has been taking place since 1952. The Discovery of oil reserves in Tanzania’s Wembere-Eyasi proves the long wait was worth a while.
In the same suit as its neighbouring nation, Tanzania is to undergo a rigorous process to commercialize the oil discovered entirely.
For instance, in Kenya, which discovered oil and experienced the first stages of (testing) exporting at least 200,000 barrels—the nation is working to build the functioning and healthy infrastructure necessary to tap the existing potential.…
On Oct. 1, 1960, everything seemed possible for Nigeria: After nearly 80 years of colonialism under Great Britain, it was finally an independent nation.
During the newly independent nation’s earliest days, there was every reason for Nigerians to envision a bright future for themselves and their country, one in which Nigeria’s vast oil and gas reserves would deliver widespread prosperity. One of stability and growth.
Tragically, Nigeria’s story moved in a different direction. Yes, there was a brief period of economic growth, but that was followed by multiple coups, civil war, military rule, corruption, and poverty. Instead of helping everyday Nigerians, the country’s oil wealth went to an elite few in power while leaving communities, particularly those in the Niger Delta, to deal with environmental degradation and dwindling means of supporting themselves. Instead of using its oil revenue to strengthen other sectors and diversify the economy, Nigeria has made oil
Brent crude oil’s return to a $40/b handle has so far proved to be short-lived. During the past week the oil market has continued to move higher in the belief that the OPEC+ group of producers would extend a deal to curb production. Thereby continuing their support for the market while demand slowly recover.
Saudi Arabia and Russia, the leaders of the group, have preliminary agreed on a one-month extension of existing OPEC+ cuts. The problem, however, is once again what to do with countries that fail to deliver the promised cuts. Moscow, usually a laggard in previous deals, has almost reached its target of 8.5 million barrels/day. That has left the group in a stronger position to demand compliance from others.
Once again the focus has returned to Iraq and Nigeria, OPEC’s notorious cheaters, who for years now have failed to deliver fully on any of the previous …