Oil

Rwanda announced says its has discovery, first oil  confirming 13 reservoirs in Lake Kivu, which borders the Democratic Republic of Congo (DRC). “We have oil,” said Francis Kamanzi, CEO of the Rwanda Mines, Petroleum and Gas Board,…

In a bold move, residents of Zintan, Libya, shut down key oil distribution valves in protest of the abduction of Brigadier General Mustafa al-Whayshi, head of the Central Security Department. Al-Whayshi was kidnapped last Wednesday, and…

Turkey has launched a significant oil and gas exploration mission off Somalia’s coast, with the state-owned Turkish Petroleum Corporation (TPAO) leading the operation. The Turkish exploration vessel, now in Somali waters, is set to…

The Democratic Republic of Congo (DRC) has cancelled the auction of 27 sites earmarked for oil exploration, its government said, citing late bids and a lack of competition. The auction of these sites, known as oil blocks, was launched two…

The Kenyan says is set to exit its Government to Government (G2G) deal that it launched in April 2023. The G2G oil supply deal agreed between Kenya and three national oil exporters from the Gulf was launched by Kenya's president William…

Several Saudi Arabian companies have, in their released regulatory filings, said that state energy company Saudi Aramco's decision to raise feedstock and fuel prices for this year will raise production costs and lower earnings.…

Ugandan Kingfisher oil field is operated by China National Offshore Oil Corporation (CNOOC), as part of a joint deal with French oil giant TotalEnergies. Another oil field, Tilenga, is operated by TotalEnergies. Kingfisher oilfield is…

Oil prices rose on Wednesday following bullish oil demand growth forecasts from the International Energy Agency (IEA) and OPEC. Brent crude futures were up 76 cents, or 1%, at $75.05 a barrel by 0916 GMT. U.S. West Texas…

The Organisation of the Petroleum Exporting Countries and allies led by Russia, has reached a deal on output policy after seven hours of talks on Sunday, deciding to reduce overall production targets from 2024 by a further total of 1.4…

Oil marketers have asked the Federal Government to implement a transition plan in preparation for fuel subsidy removal after May 29. At the just-concluded Nigerian International Energy Summit in Abuja, the former Chairman of the Major Oil…