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Shell lifts force majeure on Nigerian Bonny oil exports ABUJA: Royal Dutch Shell has lifted a force majeure on Nigerian Bonny Light crude oil exports which was declared in April after the shut down of a 150,000 barrel per day pipeline, the company said on Friday.Africa's biggest oil exporter has been producing around 15 percent below its 2.5 million bpd (bpd) capacity this year due to widespread oil theft and leakages from ageing pipelines."The force majeure on Bonny Light exports was lifted effective 1600 hours Thursday Oct. 3 following the re-opening of the 24-inch TNP (Trans Niger Pipeline)," a statement said.Shell is the foreign oil major worst affected by oil theft but Italian energy company Eni has also had its profits hit by criminal gangs tapping into its pipelines.The Anglo-Dutch major has resumed gas supplies to Nigeria's 22 million metric tonne a year liquefied natural gas terminal but a force majeure on gas remains in place, the statement said."(We) ...

Yemen oil pipeline pumping again after bomb damage repaired SANAA: Yemen's main oil export pipeline has started working again after damage caused by a bomb attack earlier this month was repaired, security and oil sources said on Saturday.Tribesmen attacked the pipeline in central Maarib province on Sept. 14 their fourth assault on it in a month halting flows to the Ras Isa terminal on the Red Sea.Groups often damage or destroy pipelines to press the government to provide jobs, settle land disputes or free ...
Shale oil poses threat to Gulf exports: experts DUBAI: Shale oil production could pose a threat to exports from the Gulf region, whose energy wealth has given it pivotal role in the global market and a geopolitical importance, experts say.Saudi Arabia is the world's top oil producer, but is only marginally ahead of the United States, whose output is gaining rapidly thanks in part to development of oil shale reserves.That could significantly alter Saudi Arabia's export mix, as the kingdom's oil accounted for ...
Morocco says its coal imports to rise by 3.5mn tonnes by 2017 RABAT: Morocco will increase its current 6 million tonnes a year of coal imports by 3.5 million tonnes by 2017, to meet demand from a 1,320 megawatt power plant being built by Safi Energy Company, the government said on Friday.Safi Energy Company (SEC) is a joint venture of GDF Suez , Morocco's royal holding Nareva and Japan's Mitsui .Morocco is investing 4.7 billion dirhams ($550 million) to build a coal port in the southern city ...
Libya oil output jumps to 620,000 bpd on western field restarts LONDON: Libya's crude oil production has hit 620,000 barrels per day, as the big western oilfields ramp up after reopening earlier this week, two state National Oil Corp (NOC) officials said on Wednesday.Output from the El Sharara field has reached about 300,000 bpd day and El Feel has hit 70,000 bpd, Mustafa Sanalla, executive board member at NOC said.Another Libyan oil official added that El Sharara was expected to reach full capacity of around 330,000 ...
Saudi oil exports rose to 7.47mn bpd in July DUBAI: Saudi Arabia increased its exports by 155,000 barrels a day (bpd) in July from June to 7.470 million bpd, the latest official data published by the Joint Data Initiative (JODI) showed on Wednesday.The world's largest oil exporter produced 10.034 million bpd of crude, up 392,000 bpd from June, official Saudi government data available through the JODI website showed.Copyright Reuters, 2013 ...
Tullow to shut Ghana Jubilee production ACCRA: Tullow Oil Plc will shut production at Ghana's Jubilee offshore oil field on September 20 for three weeks of maintenance on an $800 million processing and storage vessel, the company said on Monday.Tullow said in its second quarter results maintenance would take place during the third quarter but did not give a date. It began production in December 2010 from the field, which has estimated reserves up to 1 billion barrels.It expects 2013 full ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln