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9th December 2021
EIA Revises 2021 and 2022 Oil Forecasts Following Emergence of Omicron
The COVID19 Omicron variant poses a risk to global oil demand, according to the US Energy Information Administration (EIA), which slashed its global oil consumption predictions for 2021 and 2022....
2nd September 2021
OPEC Boosts Oil Production by 0.4 million barrels per day in October
On September 1, 2021, the virtual 20th OPEC and non-OPEC Ministerial Meeting (ONOMM) came to an end. Although the consequences of the COVID-19 pandemic continue to throw some doubt, market...
11th May 2021
OPEC Discusses Impact of COVID-19 Surge in India in latest MOMR; 2021 Demand Forecast Unchanged
In the latest edition of the Organisation of Petroleum Exporting Countries’ Monthly Oil Market Report (MOMR), the Group did not change its projected global oil demand forecast for 2021 due...
23rd March 2021
Saudi’s Aramco Reports 44% Slide in its Net Profit for 2020
In a statement to the Tadawul Stock Exchange, where the Company shares trade, the world's largest oil-exporting company, Saudi Aramco, has reported a 44% slide in net profit for 2020...
18th December 2020
Tanzania Sees an Increase in Gas Production and Supply; Malawi Increases Fuel Price
Wentworth Resources Limited announced an increase in production of natural gas in Mnazi Bay, Tanzania, in November 2020. The increase in demand caused the production at the Bay to rise...
10th December 2020
Nigeria’s Crude Oil Export Earning Rose to 116% in November 2020
At the Virtual 19th Nigeria Oil and Gas Conference that held on Tuesday, 8th December 2020, the Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC), Mohammad Sanusi Barkindo, disclosed...
20th November 2020
EPRA Kenya Reduces Prices of Petrol, Diesel and Kerosene
Amidst the fear of the second wave of COVID-19 and the hike in the price of petrol in some countries which some attribute to the announcement of a vaccine for...
7th November 2020
Falling Oil Price May Affect Nigeria’s 2021 Budget – Finance Minister
The Nigerian Minister of Finance, Budget and National Planning, Zainab Ahmed, said the resurgence of COVID-19 in Europe which has led to lockdowns and re-enforcement of restrictions and has caused...
21st October 2020
Uganda Received No New Bid for Its Licensing Round After a Six-month Extension
According to The EastAfrican, the second round of bids for Uganda's oil licensing round that expired at the end of September ended with no new expressions of interest received from...
10th October 2020
OPEC Publishes 2020 World Oil Outlook 2045
The 2020 OPEC World Oil Outlook (WOO) was launched on 8th October 2020 in Vienna, Austria. The latest edition avails the Organisation with an in-depth look at the unprecedented scale...