First Independent Mena Newspaper
Nigeria has regained its position as Africa’s top crude oil producer for May 2023, according to the latest report published by the Organization of Petroleum Exporting Countries (OPEC), that also attributes the slow growth of the country’s economy by 2.4% year-on-year in the first quarter of 2023 to certain factors including a decline in crude […]
The World Trade Organization chief has urged Nigeria to see alternative revenue sources as the oil and gas industry becomes less lucrative. Speaking during a recent function in Abuja, Ngozi Okonjo Iweala, Director-General of the WTO, has advised incoming governors to stop depending on crude oil and diversify the sources of revenue in their domains. […]
Namibia has made its third light oil discovery 270 km off its coast in the Orange Basin, though experts say the southern African country will only reap the rewards of these discoveries in a few years. The drilling process in the Orange Basin started in December 2022 and was successfully finished in recent days, according […]
Delegates at the biggest oil conference in Africa have expressed concern about rising prices after the Organization of Petroleum Exporting Countries (OPEC), plus non-members who also export oil, decided earlier this week to cut production targets. The majority of the oil cartel’s 13 member states are in Africa, but many countries on the continent have […]
Nigeria has decided to adopt the security infrastructure similar to that of Saudi Arabia’s oil giant Aramco to protect its oil pipelines and curb theft. According to the CEO of the Nigerian National Petroleum Company (NNPC), Mele Kyari, the new security architecture would be unveiled soon and help to curb massive oil pipeline vandalism that […]
Saudi Arabia’s crown prince Mohammed Bin Salman, received a phone call from the president of Russia, Vladimir Putin, on Thursday to discuss a host of issues including bilateral relations between their countries and ways to develop them in various fields, the kingdom’s news agency SPA has reported. The two leaders also touched on the most […]
There is a growing international interest and investors’ interest in the Nigeria-Morocco gas pipeline project that will be the world’s longest offshore pipeline to transport gas between the two countries, going through 11 other West African countries. Nigerian Minister of State for Petroleum Resources, Timipre Sylva disclosed that the Organization of Petroleum Exporting Countries (OPEC) […]
The government Algeria will conclude its deal with Exxon Mobil Corp and set up a trade joint venture with an international company before the first half of 2019, Sonatrach’s Chief Executive Officer said. Algeria is mulling over luring in international oil companies with tax incentives in a new energy law aimed at stimulating the North […]
Sensing the social implosion is imminent after simmering for a while, the Algerian authorities resorted to scare tactics in a bid to continue clinging to power, hoping desperately to maintain the status quo. The Algerian state TV has broadcast lately special reports showing horrible, painful and shocking images of the bloody civil war in Algeria. […]
On his way back from Astana where he attended a summit of the Organisation of Islamic Cooperation (OIC) in his capacity as president of the Non-Aligned Movement, President Maduro of Venezuela stopped in Algeria where he had talks on means to halt the oil price glut. Maduro could obviously not meet Algeria’s ailing President Bouteflika, […]