A grade of crude oil, Brent, rose above $79 a barrel on Friday, supported by tight supplies due to supply curbs ahead of the meeting of the Organisation of the Petroleum Exporting Countries and allies (OPEC+) on Monday. The global crude benchmark appreciated by 1.07 per cent or 85 cents yesterday to sell at $79.15
The Director of Resources and Energy, ABSA Securities, United Kingdom, a specialist investment bank with focus on funding for oil and gas projects in Africa, Camillo Atampugre, maintained that a social investment plan is critical to stimulating impactful growth across the African continent. He noted that ABSA Investment’s focus aims to drive sustainability and advocate
NNPC data showed that cumulatively, Nigeria produced 195.14 million barrels from January to April, 2021. According to NNPC, January’s production was 49. 258 million barrels (1.58 million barrels per day), while February’s production was 45.357 million barrels (1.62mb/day). In March, production was 51.225 million barrels (1.65mb/day) while April production was 49.3 million barrels (1.63mb/day). In
Oil and gas investors with an interest in Africa, have made significant investments in some of the countries of the MSGBC Basin – which comprises Mauritania, Senegal, Gambia, Guinea-Bissau and Guinea-Conakry. Although Guinea Bissau has not yet received the same level of attention from investors, its offshore areas hold good prospects for a variety of independent exploration and
Italian oil and gas major Eni has started production from its Cabaça North development project in the Eastern area of Block 15/06 in deep waters offshore Angola using the Armada Olombendo FPSO. Eni said that the Cabaça North development, with an expected peak production rate in the range of 15,000 bopd, will increase and sustain
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