oil

Aliko Dangote’s Struggle Against the Oil Cabal in Nigeria The saga surrounding Nigeria's oil industry has been a tapestry of power struggles, intricate relationships, and significant financial stakes. Central to this narrative is Aliko Dangote, the wealthiest man in Africa, who has taken on a monumental challenge: building a $23 billion oil refinery poised to reshape the nation’s energy landscape. Yet, as he dives deeper into this project, he finds himself in a persistent battle against entrenched interests within…

In the complex landscape of Sudan's conflicts, a significant development has emerged: the resumption of pipeline operations that were halted due to a rupture caused by ongoing hostilities between the Sudanese Army (SAF) and the Rapid Support Forces (RSF). This interruption occurred in April of last year, during a period marked by immense upheaval that displaced millions and plunged many into famine. It’s a stark reminder of the interplay between conflict and the basic needs of local populations. A recent letter…

Ghana's oil production in 2024 has seen a heartening yet frustratingly narrow miss as the nation recorded a shortfall of just 0.01%, equating to merely 7,000 barrels, compared to its output in 2023. By the end of 2024, the total crude oil output reached an impressive 48,240,010 barrels, but just shy of the 48,247,037 barrels produced in the previous year. This slight decline raises a myriad of questions: What factors are contributing to this near miss? Is it a reflection of broader global trends or domestic challenges?…

Ghana's Growing Petroleum Revenue: A Dynamic Landscape In a promising turn of events, Ghana's total petroleum revenue surged to an impressive US$1.35 billion in 2024. This marks a remarkable 27.8% increase from the US$1.06 billion recorded in 2023, as outlined in the recently released 2024 Annual Report by the Public Interest and Accountability Committee (PIAC). It’s a heartening statistic, one that evokes a sense of cautious optimism for both Ghanaian citizens and stakeholders involved in the nation's oil industry. This…

New Regulations for the Petroleum Sector in Somalia The recent implementation of new regulations within Somalia's petroleum sector marks a significant turning point for the industry. At the core of these changes lies a collaborative effort between the Ministry of Petroleum and the Somali Quality Assurance Authority. Together, they are on a mission to ensure that fuel shipments are not only properly inspected but also compliant with established standards. This initiative isn't merely bureaucratic; it represents a…

Angola and Nigeria: Navigating the Oil Price Storm As Sub-Saharan Africa's second-largest crude oil exporter, Angola is bracing for significant economic challenges in the coming years. The nation has crafted its 2025 budget around an optimistic oil price benchmark of $70 per barrel. However, the reality is stark: Brent crude prices recently dipped below $60, marking the lowest level we've seen in four years. The question looms large—what does this mean for the country's economic stability and future prospects?…

Turkey's Ambitious Initiative to Enhance Energy Independence In a move that promises to reshape the energy landscape of the region, Turkey is gearing up to initiate a robust series of oil and natural gas exploration projects in Libya, Iraq, Somalia, and Azerbaijan. This strategic initiative, heralded by Turkish Energy Minister Alparslan Bayraktar, aims to significantly diminish Turkey's reliance on imported energy sources. Announced during a recent event in Istanbul, this plan reflects Turkey’s commitment to…

An Exciting Leap for Nigeria’s Oil and Gas Sector The recent commissioning of the Monarch Alloys Limited facility, which boasts cutting-edge 3LPE (three-layer polyethylene) and concrete weight coating capabilities, has captured the attention of industry leaders and stakeholders alike. Mr. Felix Ogbe, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), was quick to commend the leadership of Monarch Alloys Ltd for this significant achievement. It marks a pivotal moment in Nigeria’s…

On Thursday, Chevron made headlines with its announcement indicating plans to potentially drill an exploration well in the Walvis Basin off the Namibian coast. This initiative could see operations commencing as early as 2026 or 2027. It’s a move that encapsulates the evolving dynamics of global energy exploration and the intriguing potential that Namibia holds. The announcement fits into a broader narrative. Chevron, a giant in the oil and gas sector, is keen on advancing its prospect portfolio in Namibia—an area that has…

Somalia's Parliamentary Committee Challenges Oil Deal with Turkey MOGADISHU, Somalia The whispers of a controversial agreement have become a loud outcry as Somalia’s Parliamentary Natural Resources Committee firmly stands against an oil and gas deal that casts a long shadow over transparency and national interest. With the leak of documents laying bare the contents of this agreement with Turkey, the revelations are nothing short of eye-opening.…