Uganda is in a pole position to become one of the top 50 oil-producing countries in the world in six years, according to experts.
THE Government has not yet approved the sale of Ugandan oil fields to an Italian company, a senior energy ministry official has said.
Kenya is still hunting for oil in Isiolo where a Chinese firm has pitched tent.
Ghana's enthusiastic efforts to become a major oil industry player in Africa could be short lived, as the country would only mine the 'Black Gold' for just 20 years. Furthermore, data from the World Bank and International Monetary Fund have projected that Ghana could rake a total of $ 247.44million as oil revenues in 2011, which would decline to $1,550 in 2017.
Conditions in Equatorial Guinea cast serious doubt about the credibility of the forthcoming presidential election, Human Rights Watch said today.
Nigerians may not all agree on so much else. But the crisis wracking the entire system is exerting such universal toll in terms of economic casualties that we all now are in tremendous unison with a common anthem: a bad place is getting terminally worse.
FOR the past two weeks, artificial shortage of fuel has been a recurring trend in Ibadan with vehicles remaining on queues for days.
Pirates suspected to come from Nigeria have attacked an oil tanker off the coast of west Africa, killing a Ukrainian seaman, the commander of Benin's naval forces says.
Federal Government yesterday sought for Venezuela's investment in Nigerian's refineries as part of efforts to achieve successful deregulation in the downstream petroleum subsector.
Oil marketers are raising alarm over increased threats to vessels delivering crude oil to the Kenyan coast, due to piracy.
Four days after Vice President Goodluck Jonathan promised that no Nigerian will use power generators next year, the Presidency itself proposes to spend N542.4 million in the 2010 Federal budget to purchase and fuel power generating plants.
Chairman of the Senate Committee on Gas Resourcess, Osita Izunaso, disclosed yesterday that the Petroleum Industry Bill (PIB) will be passed before the National Assembly proceeds on Christmas break next month.
As part of the national mitigation efforts to contain the impact of climate change, the Federal Government through the Nigerian National Petroleum Corporation (NNPC) said it has embarked on gas utilisation projects that would gulp a total of $12.1bn between now and 2013 with the aim of achieving alternative energy development and a low carbon economy.
Hauwa Adamu's favourite subjects are Chemistry and Biology. Notwithstanding that oil is the backbone of Nigeria's economy, the SS2 student of Government Secondary School, Jiwa, Abuja, said she knew nothing about how the country became one of its major producers in the world.
I was quite tickled that Mr Tony Buckingham, the shrewd ex-mercenary and chief of Heritage Oil, is set to make £80million (Shs240 billion) from selling its lucrative oil fields in Uganda.
