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C.Africa

C.Africa
2017, June, 1, 19:05:00

NIGERIAN OIL TO INDONESIA

Indonesia, which produces around 730,000 b/d of crude, relies on imports to meet domestic demand of 1.4 million b/d, with Nigeria accounting for 18% of oil imports.

C.Africa
2017, May, 6, 16:55:00

NIGERIAN OIL: 2 MBD

Nigeria’s oil production level has recovered to 2 million bopd, Nigerian National Petroleum Corporation (NNPC) Group Managing Director Maikanti Baru said late on Tuesday.

C.Africa
2017, April, 12, 18:30:00

KENYA'S GDP UP TO 5.5%

“Consistent with its robust performance in recent years, once again economic growth in Kenya was solid in 2016, coming in at an estimated 5.9%—a five-year high. This has been supported by a stable macroeconomic environment, low oil prices, earlier favorable harvest, rebound in tourism, strong remittance inflows, and an ambitious public investment drive,” said Diarietou Gaye, World Bank Country Director for Kenya. “Nonetheless, Kenya is currently facing headwinds that are likely to dampen GDP growth in 2017.”

C.Africa
2017, March, 31, 18:35:00

IMF HAS NIGERIA

With oil receipts dominating fiscal revenue and exports, the Nigerian economy has been hit hard by low oil prices and falling oil production. The country entered into a recession in 2016, with growth contracting by 1.5 percent. Annual inflation levels doubled to 18.6 percent, reflecting hikes in electricity and fuel tariffs, a weaker naira and accommodating monetary conditions (broad money expanding at 19 percent y-o-y). Even with a significant under-execution in capital spending, the consolidated fiscal deficit increased from 3.5 percent of GDP in 2015 to 4.7 percent of GDP in 2016, because of significant revenue shortfalls.

C.Africa
2016, December, 8, 18:30:00

INDIA - NIGERIA: MORE OIL

Indian state-run oil refiners have called for Nigeria to increase its total term contract volumes next year by more than 20% as demand from the South Asian country climbs, an official from Nigeria's state-owned Nigerian National Petroleum Corporation said.

C.Africa
2016, November, 28, 18:40:00

NIGERIAN OIL CRISIS

“Security and access to funding are the biggest challenges right now to private sector players,” says Kola Karim, managing director of domestic producer Shoreline Energy. “The situation is really tough.”

C.Africa
2016, November, 22, 18:40:00

NIGERIA INTO RECESSION

Nigeria, which was Africa's largest oil producer until a few months ago, slipped into recession after its economy shrank by 2.06% in Q2, as the impact of militant attacks on oil facilities weighed on the country's economy.

C.Africa
2016, November, 18, 18:30:00

NIGERIA'S OIL SETTLEMENT: $5.1 BLN

Nigeria reached a $5.1 billion settlement to reimburse foreign oil companies including Exxon Mobil Corp. and Royal Dutch Shell Plc for past operating costs.

C.Africa
2016, November, 16, 18:30:00

EXXON VS CHAD: $74 BLN

Exxon Mobil Corp. is negotiating with Chad’s government about a record $74 billion fine the oil company was told to pay last month by a court in the central African nation because of a dispute over royalties.

C.Africa
2016, November, 15, 18:35:00

NIGERIAN OIL WILL UP TO 3 MBD

Nigeria aims to increase its crude oil output to 2.8 million b/d by 2019 and to 3 million b/d by 2020 from the current average of 2 million b/d, according to a short term policy document produced by the country's oil ministry.

C.Africa
2016, November, 15, 18:30:00

IRAN - RUSSIA COOPERATION

Iranian President Hassan Rouhani has voiced Tehran's readiness for boosting energy cooperation with Moscow, underlining the presence of Russian companies in various energy sectors in Iran.

C.Africa
2016, October, 26, 18:30:00

NIGERIA'S OIL PRODUCTION UP TO 1.9 MBD

"We have built capacity of up to 2.4 million b/d, but [we are] currently producing about 1.9 million b/d," Omar Farouk, the special adviser on international energy relations to Nigeria's oil minister of state, said on the ministry's twitter handle.

C.Africa
2016, October, 7, 18:30:00

EXXON FINED $75 BLN

The court judgment released on Wednesday found that the companies owed nearly 484 billion CFA francs in royalties to the Chadian government. It did not explain why the penalties amounted to more than 90 times that amount.

C.Africa
2016, September, 28, 18:40:00

NIGERIAN OIL FIRE

Shell says a fire has forced it to close a key oil pipeline feeding Nigeria's strategic Bonny Export Terminal, which militants attacked last week.

C.Africa
2016, August, 19, 18:35:00

NIGERIA MAY LOSE $25 BLN

“This period of low oil price is not a time to jeopardize Nigeria’s long term interests by showing Nigeria as a place not to be trusted, and projecting our business environment as unconducive,”

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