Crude oil Archives - Gambeta News

HOW NEW REFINERY CONSTRUCTION CAN HELP ANGOLA CRUDE OIL INDUSTRY

Posted on July 24, 2023 by Gambeta News

Angola is rich in crude oil but has to import the fuel it needs. A new refinery could change that. Wearing a hard hat, safety glasses, and high-visibility vest, project manager Martin Jooste gives a tour of the rain-sodden construction site that he oversees in the tiny Angolan enclave of Cabinda. Separated from the rest of Angola by the Democratic Republic of Congo, Cabinda produces 60% of Angola’s oil, and dozens of oil and gas platforms lie off…

KENYA PRESIDENT TO FLAG-OFF CRUDE OIL SHIPMENT

Posted on August 26, 2019 by Gambeta News

President Uhuru Kenyatta to flag-off US$11.6million crude oil shipment which will enable kenya enters the league of oil exporters. Kenya President Uhuru Kenyatta will commission the flag off for the first shipment of crude oil from the port of Mombasa. The first shipment of crude oil which is worth US$11.6million (Ksh.1.2B) will also make Kenya enters the league of oil exporters. According to reports by Tullow Oil CEO Paul McDade, the shipment will continue for…

PRESIDENT BUHARI APPOINTS NEW NNPC GMD AND NNPC CHAIRMAN

Posted on June 27, 2019 by Gambeta News

NNPC now has a new GMD and a new acting Chairman. The Nigerian National Petroleum Corporation (NNPC) recently had series of changes in its various management positions. The National Oil firm NNPC now has a new GMD and a new acting Chairman. Nigeria’s President, Muhammadu Buhari recently appointed Mr. Mele Kolo Kyari to replace Dr. Maikanti Baru as the new Group Managing Director (GMD) of NNPC. However, he is to resume office from 8 July,…

UGANDA SIGNS US$4 BILLION OIL REFINERY DEAL

Posted on April 18, 2018April 18, 2018 by Gambeta News

Uganda Government signs US$4 Billion Oil Refinery Agreement Irene Muloni, Uganda Minister of Energy and Mineral Development, have signed a contract with the Albertine Graben Refinery Consortium. The event which was presided over by President Museveni saw the end of the Ugandan government’s five year struggle to get a company to invest in a refinery. Construction of the refinery will be under a public-private partnership. Albertine Graben Refinery Consortium will own 60% shares while the Ugandan government will…

NNPC SIGNS US$1.7bn DEAL WITH CHEVRON TO INCREASE CRUDE PRODUCTION

Posted on November 23, 2017 by Gambeta News

NNPC and Chevron sign agreement aimed at boosting reserves and production of crude in Nigeria. The Nigerian National Petroleum Corporation ( NNPC ) and Chevron Nigeria Limited (CNL) have finalized an Alternative Financing Agreement to increase crude production by about 39,000 barrels per day. This report is according to a statement issued by the NNPC Group Managing Director, Dr Maikanti Baru. The agreement which was signed in London, is expected to achieve an incremental peak…

Angola – Africa’s Oil Giant

Posted on November 13, 2017March 6, 2018 by Gambeta News

As Angola celebrated it’s 42nd Independence on August 11th, we took a look at the Portuguese speaking nation. Located in the Southern part of Africa on the Atlantic coast, Angola is Africa’s Largest Oil Producer. Endowed with large oil reserve, the country has showed an impressive economic growth rate with a GDP per capita at $3,486 (Opec). Angola holds a population of 27.5 million people in a land mass almost equal to twice the size…

SONANGOL AN ANGOLA OIL COMPANY SAVES $US1.7BN AFTER SPENDING CUTS

Posted on October 9, 2017 by Gambeta News

After spending cuts Angola’s state owned oil company saves $US1.7bn. On Friday, Angola’s state owned oil company ( sonangol) said $1.7-billion has been saved and thanks to spending cuts since 2014 due to lower crude oil prices. Due to the slump in oil prices, over the last three years oil companies across the world have made huge cuts to their annual capital expenditure. According to a statement released by Sonangol company, production costs per barrel had…