This increase showed that crude oil production in Nigeria increased month-on-month, (MoM), by 4% from 1.23 million BPD recorded in March 2024, to 1.28 million BPD, in April 2024, OPEC measures crude oil production output by using data from two sources: …

Nigeria’s oil-dependent economy faces a growing threat from resource-backed loans, which offer tempting sources of quick cash but come with significant risks, experts engaged by BusinessDay have said. A resource-backed loan is a borrowing mechanism by …

Shelf Drilling, a leading offshore drilling contractor, reported a strong performance in the first quarter of 2024, despite facing operational and market challenges. The company showcased a total recordable incident rate of 0.06 and an impressive uptime of …

The letter was hand-delivered by Xue Bing, China’s special envoy for the Horn of Africa, and read by the Chinese ambassador to Uganda, Zhang Lizhong. Uganda discovered oil in the Lake Albert basin on its border with the Democratic Republic of the Congo …

… signed a $300 million crude oil contract — with China. Africa … except for Eswatini – formerly Swaziland – have established diplomatic relations … the continent for Pan-African consolidation.” The AU … important principles of Pan-Africanism: political unity and …

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Angola is using an unusual deal with China to relieve a debt crunch in Africa’s second-biggest oil producer by unlocking cash from …

Shelf Drilling, Ltd. (OTCPK:SHLLF) Q1 2024 Results Conference Call May 16, 2024 10:00 AM ET Company Participants David Mullen - Chief Executive Officer Greg O’Brien - Chief Financial Officer Conference Call Participants Fredrik Stene - Clarksons Securities …

… Leaving OPEC can help Angola to attract upstream investment, but … b/d, making Angola the eighth-largest crude oil supplier to China. In 2022 … showed. "Major light sweet crude supply sources like the US … source said. "Angola leaving OPEC is great news …

Amid an ongoing property crisis in China that has put brakes on its investments in Africa, Indian officials held a Joint Trade Committee (JTC) meeting with their Nigerian counterparts last month, the commerce and industry ministry said on Friday (May 3). …

Sebastião Gaspar Martins, CEO of Angola’s national oil company (NOC) Sonangol, will participate as a speaker at African Energy Week (AEW): Invest in African Energy 2024 event in Cape Town from 4th – 8th November. This comes as the country seeks to attain …