By Energy Worth Nigeria’s excess oil revenue has increased from $48.3 million to $58 million per day as international oil price leaps to $76 per barrel Monday from $72. The Federal Government had benchmarked its 2018 budget earnings at $51 and 2.3 million barrels oil output. But the oil price which had hovered at between…
By Irina Slav South Sudan has resumed production from the Toma South oilfield, Reuters reports, quoting the Oil Minister of neighbor Sudan, Azhari Abdulqader. Production at the field was suspended in 2013 amid Sudan’s bloody civil war. The field is producing at a rate of 20,000 bpd, adding to South Sudan’s overall daily average of…
The Federal Government has not ordered international oil companies (IOCs) to relocate their head offices to Niger Delta, according to a source in the presidency. The clarification follows reports in the media that the government may have resolved to have the headquarters of the oil majors in the oil-rich region. The top source told The…
By Nick Cunningham Mexico will likely halt oil auctions for at least two years, dealing a blow to its oil industry. Mexico’s president-elect Andres Manuel Lopez Obrador (AMLO) will reportedly suspend oil auctions for at least two years, according to the Wall Street Journal, with some experts believing that his administration won’t hold any new…
