ABUJA, June 12 (Reuters) – Nigerian President Bola Tinubu has been advised to reduce the state’s stake in the oil and gas sector to raise up to $17 billion to boost economic growth during his four-year term, a policy document showed.
Saudi Aramco, the world’s largest crude oil exporter, has assured at least five North Asian refiners they would get the full crude volumes they had asked for in July, even after the production cut Saudi Arabia announced last week, sources familiar with the plans told Reuters on Monday.
For nearly two decades, South America’s largest economy Brazil has been reaping a tremendous economic windfall from a massive oil boom that kicked off with the first offshore ultra deep-water pre-salt discovery in 2006.
The Overlord of Dagbon, Ya Naa Abukari Mahama II is upbeat about the massive facelift the Northern Region is about to witness as the Ghana National Petroleum Corporation (GNPC) inches closer to drilling an oil and gas exploration well in the Voltaian Basin next year.
The GOIL Company PLC, registered a net profit after tax of GHC123.89 million in 2022, up by 26% compared to the previous year, Reginald Daniel Laryea, chairman of the GOIL board of directors, has announced.
Nigeria produced the most crude oil, followed by Algeria and Angola. Nigeria, Angola, and Algeria have three of the ten largest crude oil fields in Africa in terms of production in 2022.
Angola is China’s second-largest trading partner in Africa, with bilateral trade surpassing 27 billion US dollars in 2022.
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a sixth week in a row for the first time since July 2020, energy services firm Baker Hughes Co BKR.O said in its closely followed report on Friday.
Kenya has expressed interest in strengthening bilateral relations with Angola across various fields including energy, agriculture and trade.
The oil and gas industry is a dynamic and ever-evolving sector that has seen a lot of changes in recent years.