Tag Archives: Africa

The U.S. oil and gas producer was ready to move forward with the Mozambique project after lining up enough customers for the LNG.

Traders said prices were mostly driven up by uncertainty around oil exports by Libya.

US West Texas Intermediate crude futures was 35 cents higher at $68.43 a barrel.

OPEC agreed to a modest rise in oil production from next month.

The group equally stated they will meet again on December 4. 2018 to review their decision and its impacts on the market.

Libya’s national oil production has dropped to between 600.000 and 700.000 bpd due to the closure of the ports.

OPEC'.s decision will affect economic outlook in Nigeria if the price drops below $51 or if the country is unable to boost its oil production.

U.S. President Donald Trump has called on OPEC to raise production to cool down oil prices.

Libya has lost 450.000 barrels per day (bpd) of oil production due to clashes at the oil terminals of Es Sider and Ras Lanuf.

An average of 692.600bd of the country’s crude oil went to Europe in 2017.