production

In the heart of East Africa, Kenya stands out not only for its breathtaking landscapes but also for its rich agricultural heritage. According to a recent report by Business Insider Africa, the past fiscal year has showcased the remarkable agricultural productivity of this vibrant nation, emphasizing the vital role of crops in its economy. It’s interesting to note that over 75% of agricultural production in Kenya comes from smallholder farmers. These individuals often toil on small plots of land, relying on their…

The latest market report reveals a consistent decline in the prices of all ORB (Official Reference Basket) components, aligning with the downward trend in corresponding crude oil benchmarks. This convergence between basket component prices and crude oil benchmarks isn't just a coincidence; it's rooted in the broader market dynamics that dictate pricing in this volatile industry. Moreover, lowered official selling prices across the primary marketplaces have exacerbated the price drops, creating a ripple effect felt by…

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…

Zimbabwe's Central Bank Resumes Gold Coin Issuance In a noteworthy development, Zimbabwe's central bank has made the decision to reinstate the issuance of gold coins, a program that had been temporarily halted for a period of ten months. This revival is not just a procedural footnote; it’s a strategic maneuver aimed at stabilizing the local currency, the Zimbabwean Gold (ZiG), which is currently grappling with significant challenges stemming from policy missteps. The financial landscape in Zimbabwe is particularly…

In an encouraging turn of events, Nigeria has witnessed a remarkable 15.6 percent increase in its gas output month-on-month (MoM), reaching a substantial 227,931.65 million standard cubic feet (mscf) in March 2025. This surge not only highlights the nation's potential in natural gas production but also reflects the continued efforts towards enhancing the country's energy sector. When we step back to examine the year-on-year (YoY) data, the figures reveal a modest growth from the previous year, rising from 198,353.62 mscf in…

The role of natural gas as a pivotal energy source has gained significant traction in recent years. Why has this transformation occurred? Primarily due to its cleaner-burning properties compared to traditional fossil fuels like coal and oil. Not only is natural gas recognized for its favorable environmental impact, but it has also proven essential in fueling industrial growth and driving economic progress in various regions across the globe. For many African nations, natural gas extraction emerges as a crucial…

Imagine starting every day knowing that your nation is one of the powerhouses of oil production in Africa. Nigeria, for instance, has always held a pivotal role in this delicate dance of numbers and barrels. Just in March, Nigeria's oil production averaged about 1.40 million barrels per day (mbpd). If we flip back a page to the previous month, February, there was a slight uptick, with production averaging 1.465 million barrels per day. Interesting how these small fluctuations can tell a story, isn’t it?…

Niger Delta: A Complex Paradox of Wealth and Poverty The Niger Delta, a vibrant oil-producing region in Nigeria, is both a source of immense national wealth and a ground of profound challenges. Here, in this lush expanse, lie contradictions as deep as the oil reserves below: prosperity marked by neglect, opportunity shadowed by environmental decay. How did such a resource-rich area become embroiled in a saga of struggle? The oil sector, undeniably, is the lifeline of Nigeria's economy. It has catalyzed economic growth,…

Mogadishu (AX) – The winds of change are sweeping across Somalia’s economic landscape, spearheaded by promising news from the Somali Minister of Petroleum and Mineral Resources, Dahir Shire Mohamed. With a tone that mingles optimism and realism, the Minister has announced the near completion of oil exploration activities being conducted by a Turkish enterprise. This significant development may well place Somalia on the map of the world's oil producers by late this year or perhaps the onset of 2026, showcasing a daring leap…

Prime Minister Abiy Ahmed Charts a New Course with UAV Drones In a small East African country brimming with ambition and innovation, a remarkable stride has been made. Recently, the visionary Prime Minister, Abiy Ahmed, unveiled plans that not only cater to local needs but aim to extend beyond borders. Yes, the manufacture of UAV drones is not just a tale of regional development but one of global potential. Saturday was a day filled with anticipation and excitement, as the Prime Minister…