The sectarian strife in Iraq has put growth of OPEC crude oil production capacity over the next five years at risk, according to the International Energy Agency, highlighting the importance of the country to the global energy market. Roughly, 60% of the g
Yesterday, Oando Energy Resources announced the receipt of the long awaited ministerial consent of the Honourable Minister of Petroleum Resources of Nigeria for the acquisition of the upstream oil and gas business of Conoco Phillips for a total cash consi
Oando Plc, a player in the oil and gas exploration and production business in Nigeria this evening, announced receipt of the consent of the Honourable Minister of Petroleum Resources of Nigeria for the acquisition of the Nigerian Upstream Oil and Gas Busi
There may be geopolitical reasons to help the unsavory Maliki in what looks less like an Iraqi insurgency and more like a regional Sunni-Shiite conflict, but America has surprisingly little economic interest in taking sides. The big economic issue involv
Much has been made about the role that hydraulic fracturing – or fracking-has played in revolutionizing the energy landscape, unlocking vast new reserves of oil trapped in shale rock. This "tight oil" is pouring into the global pool of oil supplies at a c
Forecasting oil price movement is one of the most treacherous disciplines, you are more likely to be wrong and farther from the actual than being accurate. That is why the recent forecast by Matthew Phillips published in the Bloomberg Businessweek makes f
The oil markets have plenty of reasons to be spooked. In Libya, home to Africa’s largest reserves, production has fallen more than 80 percent since militias seized control of the country’s biggest ports last summer. Most of Iran’s oil remains trapped as w
As oil majors flee the volatile Niger delta for offshore blocks, Nigerian onshore production received a boost as domestic exploration and production company Seplat completed a $1.9bn IPO on 9 April. The company is the first to list on both the London and
The Council of the Nigerian Stock Exchange (NSE) has approved a listing price of N576 per share for Seplat Petroleum Development Company Plc, thus making it the highest priced equity in the oil and gas sector.
As much as Nigeria remains committed to private sector participation in the economy as part of the transformation agaenda, international analysts remain concerned about a reverse engineering of the process.
The management of TALEVERAS has reacted to an erroneous news report in a Nigerian news daily of March 25, 2014, which wrongly published that the Nigerian Extractive Industries Transparency Initiative (NEITI) credited the group with 152,308,878 litres of u
The standoff between the U.S. and the EU on one hand, and Russia on the other, intensified pretty quickly late last week. The U.S. quickly slapped heavier sanctions on Russia after its annexation of Crimea, leading to a mutual escalation of retaliatory me
In an apparent clarification of its previous position on the alleged $22.8bn missing oil money at the Nigerian National Petroleum Corporation (NNPC), during a recent legislative presentation, the Nigerian Extractive Industries Transparency Initiative (NEI
According to Reuters , Crimea may nationalize oil and gas assets within its borders belonging to Ukraine, and sell them off to Russia. Crimea’s Deputy Prime Minister hinted at the possibility that it would take control of Chornomorneftegaz, a Ukrainian st
The Energy Information Agency (EIA) has predicted that natural gas production in the US will continue to grow at an impressive pace. Right now output is close to 70 billion cubic feet a day and is expected to reach over 100 billion cubic feet per day by 2
Iraq's Deputy Prime Minister for Energy Affairs firmly stated the central government will take action, "including fiscal measures," if Kurdistan begins exporting oil without coming to an agreement with Baghdad. The remarks came as Minister Hussain al-Shah
Though Norway in June overtook Russia in total exports of natural gas to Europe, the balance of Russian gas to Europe comes through Ukraine, which itself is dependent upon Russia for 60% of its current gas consumption.
Kenya will start pumping its first commercial oil next year and begin exporting in 2016, but this is just the opening salvo: new discoveries in recent months and fast-track new well development make Kenya the darling of East Africa from an investor’s pers
Thanks to the shale boom, markets already perceive the trade balance optimizing, energy prices are cheaper than they would otherwise be and we've even cut carbon emissions. And we are only getting started, according Tyler Cowen, New York Times best-sellin
Three years has seen the overturn of two government, the deaths of thousands of people and the destruction of much of the Egyptian economy. In the end, the mobs have changed nothing, except to make their own lives more miserable.
President Goodluck Jonathan pledged Wednesday in Abuja that his administration will keep on implementing policies and measures that will continuously improve the operating environment for entrepreneurs and investors in the Nigerian economy.
On his way back from the Yalta conference in February 1945 where US President Franklin D. Roosevelt met with Great Britain's Winston Churchill and the Soviet Union's Stalin, the American president made an unscheduled stop in Egypt where he met with Saudi
On 17 July, Nicaragua announced that US-based Noble Energy would invest $30 million in drilling two offshore wells in the Caribbean—launching Nicaragua's first-ever oil exploration. The wells will be drilled in the Tyra and Isabel blocks, which have under
It's time to step out from my 'normal' role as the 'energy expert' and make a comment or two on the markets in general, just as a professional trader who's seen quite a bit in his almost 3 decades of daily experience with capital markets and the way they
When the Bakken shale oil play really got rocking, stocks like Continental Resources went from $10-$100, and Brigham Exploration went from $2-$36-all in just 2-3 years. When the Eagle Ford got rolling, stocks like PetroHawk went from a few dollars to $37.
The pace of oil and gas exploration is frightening, and discoveries are weekly, if not daily, with volumes investors would only have dreamt of a decade ago. With each new discovery, it becomes difficult to keep track of the playing field, and even more di
President Goodluck Jonathan has approved the appointment of Mr. George Abiodun Osahon as the new Director of the Department of Petroleum Resources (DPR). Mr. Osahon who has over 30 years experience in the petroleum sector is to replace the incumbent Direc
An analysis of selected investment markets (Equities, Oil and Gold) reveals that at current prices, the stock market is out-performing the gold and oil markets. Recall that the stock market was recently hit by huge volatility on the back of strong profit-
The surprise historic election of the Scottish trained pro-western moderate cleric Hassan Rouhani as the next president of Iran will probably remove about $5 -$10 from the Brent crude oil benchmark price in coming days and weeks. Historically the differen
A break in personal and political relations between Nigeria's President Goodluck Jonathan, and the governor of the country's largest onshore oil producing state, Rivers state Governor Rotimi Amaechi, threatens to once again plunge the volatile Niger Delta
The Oil and Gas sector on the Nigerian bourse seems to be recovering faster than we had expected; considering the consistent and improved patronage recorded so far in the year with an average sector performance of +20.35% gain which is now far above the
In the wake of the discovery of shale gas in the USA and China, oil producing African nations such as Nigeria are predicted to be at risk of losing 25 to 40 % of oil revenue by reduced demands and the subsequent effect of lower oil prices.
I have been making the point about crude oil production and capex absolutely CONTROLLING the energy space right now and through 2013 and this week's entry is perfect to point that out again through the released quarterly reports of EOG Resources (EOG) and
No one would doubt that the taxation of severed mineral interests as well as oil and gas production is an important issue as governments hope to capitalize on this burgeoning industry, while maintaining an attractive environment for business expansion. In