Drop in Oil Prices Unveils Vulnerability of Algerian Economy
Algerian authorities have finally been compelled to face the reality and admit the failure of their economic model based on crude oil exports and trade. […]
OPEC
Nigeria: Ex oil minister Alison-Madueke charged for graft allegations
Nigeria’s former oil minister Diezani Alison-Madueke has been charged for money laundering by the West African nation’s Federal High Court in Lagos. Alison-Madueke, who was […]
Algeria supports oil freeze continuation as stocks diminish
Algeria has voiced its support for the extension of the oil production freeze agreement between OPEC and non-OPEC members as it believes that “stocks in […]
Angola Becomes Africa’s Top Oil Producer – OPEC
Nigeria has again lost its Africa’s top oil producer status to Angola, as the country’s crude oil production fell by 67,000 barrels per day last […]
Dangote Refinery to Drive Capacity in Africa by 2020 – OPEC
Africa’s richest man Aliko Dangote’s refinery in Nigeria will drive refinery capacity expansion in Africa, by 2020, the organization of petroleum Exporting Countries (OPEC) said […]
OPEC Members Agree to Cut Oil Production by November
Members of the Organization of Petroleum Exporting Countries (OPEC) on Wednesday reached an agreement to limit oil production to between 32.5 and 33 million barrels […]
Nigeria Q1 Revenues Reach only 55 % of Goals
The Nigerian government failed to meet its revenue target for the first quarter of 2016, Reuters reported on Friday. Months of militant attacks on pipelines […]
Angola: President Appoints Daughter Head of State Oil Firm
Angolan President Jose Eduardo dos Santos on Thursday appointed his daughter as new boss of the state oil firm, Sonangol. According to the presidential decree, […]
Algeria: Not bankrupt by low oil prices but ready for production freeze
Prime Minister Abdelmalek Sellal during his visit to Annaba, 600km east of Algiers, said the country is not “in bankruptcy” despite the low global oil […]
Nigeria calls OPEC Nations for emergency meeting in March
The 13 members of the Organization of Petroleum Exporting Countries “may hold an emergency meeting in the first quarter if prices remain at current levels,” […]