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Uganda and Tanzania oil deal sealed

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Ugandan President Yoweri Museveni and his Tanzanian Counterpart, President John Pombe Magufuli finally over the weekend put pen to paper by signing the East African Crude Oil Pipeline…

Price Slump opening way for Private Equity firms to Enter Oil industry—Ernst and Young Report

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A recent report by Business Consultants Ernst and Young indicate that Private equity (PE) firms are preparing to invest in global oil and gas sector despite the recent slump…

Global Oil Industry Analysts Goldman Sachs say Disruptions Like Nigeria Pipeline attacks Will resurrect Prices

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Oil prices have been kept at low levels largely due to the glut in global supply. While low prices have been bad news for the industry and the…

Nigeria Plans to split National Oil Corporation into 30 Independent Companies as an Anti-Corruption measure

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Nigerian National Petroleum Corp (NNPC) is to be split into 30 independent companies within weeks, the group’s head said on Thursday, in a restructuring designed to help tackle…

South Sudan and Khartoum to revise Crude Oil transit charges on prevailing prices—Official

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South Sudan has revised Oil transit charges with its neighbor Sudan on the basis of prevailing crude oil prices, Officials have said. In August 2013 South Sudan agreed…

Africa’s Major Oil producers Nigeria and Angola seek World Bank Financial support

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By Agencies… Nigeria and Angola, Africa’s two biggest oil producers, are both in talks with the World Bank about support to help cope with low crude prices, weakening…

Oil and the environment: Nigeria President Promises to Clean Oil spills in Niger delta During Kenya Visit

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Nigerian President Muhammadu Buhari pledged to clean up Ogoniland and other parts of the Nation’s Oil rich Niger Delta, vastly damaged by frequent crude oil spills. Buhari made…

Iran Determined to raise Oil output as Sanctions are lifted

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From Agencies… Iran is determined to raise its oil output as planned as soon as sanctions on its oil industry are lifted, Mehdi Asali, its representative to the…

IMF predicts higher Economic growth rate for Mozambique from new Gas discoveries

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By Agencies… The International Monetary Fund (IMF) predicts that Mozambique’s average growth rate during the first half of the next decade could reach the staggering figure of 24…

We reset Business plan in 2015 to deal with market challenges—Tullow Oil

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Tullow Oil Plc says it was prompted to reset the business in order to deal with the effects of the uncertain market situations as it labored deliver on…