Tag: crude oil

Nigeria’s excess crude account held $72.41 million as of July 7: finance minister

ABUJA (Reuters) - Nigeria’s excess crude account held $72.41 million as of July 7, the country’s finance minister said on Thursday. Zainab Ahmed gave the figure during...

Nelisiwe Magubane appointed new chairperson of Strategic Fuel Fund

The Strategic Fuel Fund is the state-owned entity that manages South Africa's strategic crude oil stockpile has appointed the former director general for the Department of Energy, Nelisiwe Magubane as its new chairperson. Nelisiwe joins CNBC Africa for more on her new role amid the global oil price and output tensions.

Billionaire Howard Marks calls the global oil crash ‘completely rational’

A plunge in U.S. crude oil prices this week reverberated across global financial markets and fueled renewed worries over the beleaguered shale oil industry. Yet billionaire investor Howard Marks isn’t panicking.

Op-Ed: Africa locks down: No time for test runs

“Italy has given the rest of the world a tragic glimpse of what a lockdown needs to look, especially for countries that blink and fail to take action fast,” writes former Director of Communication and External Relations at the African Development Bank Group, Dr. Victor Oladokun.

Uganda-Tanzania pipeline project hits a snag – how will this impact the region?

Since the initial agreement to construct a crude oil export pipeline from Uganda to Tanzania was made in 2016, the project has seen some setbacks and has yet to be completed. Now all activities have been suspended on the project – to unpack why and what this could mean for the rest of the region, Analyst and Chief Strategist, Ken Agutamba joins CNBC Africa for more.

Kenya becomes first EA country to export petroleum to China

On 26th August, Kenya sent off its inaugural shipment of crude oil, becoming the first East African nation to join the ranks of petroleum-exporting countries. On what this means for the country's economy and the country's investments, Coordinator at Kenya Civil Society Platform on Oil and Gas, Charles Wanguhu joins CNBC Africa for more.

Oil prices continue to decline as U.S-China trade war deepens

Oil prices are down in early trade, as rising U.S crude inventories and weak economic data from China erased some of the sharp gains from Tuesday's 4.7 per cent surge. To review the global oil markets and the impact on Nigeria's oil and gas space, Rolake Akinkugbe-Filani, Senior Vice President and Head of Energy and Natural Resources at FBNQuest Merchant Bank joins CNBC Africa for more.

Op-Ed: Force majeure declared on Libya’s largest oil field

The National Oil Corporation (NOC) declared force majeure on oil production at El-Sharara – Libya’s largest oil field – and on crude oil loadings at the Al-Zawiya port.