Analysts see reform opportunity for NNPC

The deal reached earlier this year over the Iranian nuclear programme is beginning to rekindle old oil alliances, leaving the state oil company NNPC in Africa’s largest oil producer fretting over the possibility of losing market share.

 

A South Africa delegation made up of officials from PetroSA and government aides will fly to Tehran in October to meet with Iranian oil executives

 

Read more @ Businessday Online

 

NIGERIA LAGS AFRICAN COUNTERPARTS IN REFINING CAPACITY

Despite its status as Africa’s top crude oil producer and exporter, Nigeria continues to trail other African countries such as Algeria, Egypt, Libya and South Africa in terms of refining capacity.

The World Oil and Gas Review 2014, released this week, shows Egypt as having the highest primary refining capacity in 2013 among the five countries, followed by Algeria and South Africa.

Read more @ The Punch

AS US SHUTS ITS DOOR ON NIGERIA’S OIL EXPORTS

Nigeria has become the first country to completely stop selling oil to the United States of America, the world’s largest oil producer and consumer, due to the impact of the shale revolution – an astounding reversal – as the country was only four years ago one of the top five oil suppliers to America.

According to the US Department of Energy, Nigeria did not export a single barrel of crude to US-based refiners in July for the first time since records started in 1973.

Read more @ Thisday Live