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
We continue with the serialization of our core strategy document the Nigeria Strategy report. Today, our discussion centres on a review of the recent drivers of oil prices, incorporating our expectation in 2013 and possible impact for naira assets.
It's actually a very timely conversation as most eyes in the energy world (and investors) are tuned to Africa as being the next oil and gas exploration hot spot very big things are expected in 2013. The hottest spot in Africa at present is Kenya
One month after its operations were shut down, Capital Oil and Gas Industries Ltd Thursday resumed normal business activities
The premises of the company was shut down following an order of an Abuja Federal High Court that the Assets Management Corporati
Asset Management Company of Nigeria, AMCON, said yesterday it would not yield possession of the assets of Capital Oil and Gas Industries Ltd, temporarily forfeited to it by virtue of a Federal High Court order of November 13 this year.
2012 has been a stellar year for oil and gas. From East Africa to North America , new technology, major new discoveries, an unparalleled appetite for exploration and a metamorphosing perception of risk have changed the playing field.
OPEC decided to maintain its oil production ceiling of 30 million barrels a day, in a move that was widely expected, though it was unclear whether the group would say anything to address the fact that it is currently producing well above that target, acco
The fuel subsidy bill for 2012 hit N1.05 trillion as President Goodluck Jonathan yesterday admitted that he had underestimated the cost of subsidising fuel. The President said this while submitting a request to the National Assembly to approve N161 billio
Angolan state oil firm Sonangol’s strong profit growth for 2011 is highlighting the broken model of Nigeria’s state controlled oil company, the NNPC, which is hobbled by corruption, poor management and political interference.
There's been plenty of talk about potentially radical US foreign policy changes as a result of the shale boom. While one shouldn't expect any dramatic US foreign policy move away from the Middle East, factors are influencing a greater focus on Asia.
In furtherance of his declared commitment to doing all within his powers to ensure greater accountability, probity and transparency in Nigerias oil and gas industry, President Goodluck Ebele Jonathan today established three committees to prepare draft Wh
Managing Director, Coscharis Group of Companies, Dr. Cosmas Maduka, has vowed to ensure that he collects back all the money due to him that Managing Director, Capital Oil and Gas Industries Limited, Mr. Ifeanyi Ubah, has allegedly fraudulently appropriate
Capital Oil and Gas Industries Limited, an operator in the downstream petroleum industry, has refuted the unfounded allegations by the Presidential Committee on Verification and Reconciliation of Fuel Subsidy Payments headed by the Managing Director and C
Two other committees set up by the Federal Government earlier this year on different aspects of the country’s petroleum industry are to also present their reports to President Goodluck Jonathan on Friday, November 2, 2012.
The activities of the oil marketers in Nigeria have been bedevilled with allegation and counter-allegations on subsidy payment in recent time. Clearly the energy space is a great business to be in. Demand is growing, supplies are limited (hence one can ch
In furtherance of the administration’s commitment to transparency, probity, and accountability in the petroleum sector, President Goodluck Jonathan has directed that a comprehensive report of the Petroleum Revenue Special Task Force chaired by Mallam Nuhu
ABUJA (Reuters) - Nigeria has lost at least a fifth of its oil output in recent weeks due to severe flooding and oil theft, government oil officials said on Wednesday, in comments that helped push oil prices higher.
CALGARY, ALBERTA Oando Energy Resources Inc. ("OER" or the "Company") (TSX:OER), today announced that the Ebendo 4 well, in which OER has a 42.75% working interest has been brought on production at 2,000 bopd (855 bopd net to OER).