Sudan’s Prime Minister Mohamed Tahir Ayala dissolved the state-owned Sudanese Petroleum Corporation and dismissed its secretary general, Azhari Ibrahim Bassbar, state news agency SUNA said on Wednesday. Advertisements
Nigeria plans to cut its stake in joint oil ventures with multinational oil companies to 40 percent this year, its budget minister said, as the country seeks to boost revenue to grow an economy recovering from recession.
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The partners in Uganda’s oil export project insist they are still on track to make a final investment decision (FID) by mid-2019, as obstacles on the path towards first production are slowly cleared.
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Bidders are awaiting clarification on implementation of a new hydrocarbons code. Gabon has postponed the closing date for its current offshore licensing round twice since its launch, as uncertainty surrounds the introduction of a proposed new hydrocarbons code-and the health of the country’s president, who has been recuperating abroad from a stroke.
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(Bloomberg) — OPEC can make or break oil’s bull run, and hedge funds are betting the cartel will keep fueling the rally.
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Imports of Nigerian crude by the United States over 2018 fell by 43%, according to data released by the EIA. The US imported only 64.06 million barrels of crude from the West African country in 2018, compared to 112.92 million barrels in 2017.
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By way of its “SH2030” plan, Algeria’s Sonatrach aspires to become the world’s fifth-largest national oil company (NOC) by the year 2030.
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The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has stated that more than 41billion barrels of crude oil and 319trillion cubic feet of gas are yet to be discovered in Sub-Saharan Africa.
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Angola’s oil output rose by 22 million barrels per day (bpd) in February to 1.457 million bpd, according to the Organization of Petroleum Exporting Countries (OPEC).
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The new discovery is estimated to contain between 450 and 650 million barrels of light oil in place with further upside, Eni said on Wednesday.
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