Brazil’s oil exports set to jump this year, weakening OPEC curbs

01 April 2017, Rio de Janeiro/Sao Paulo — Brazil is poised to sharply increase oil exports this year as heavy investments spur new output and demand for its lighter crudes win more buyers, especially in China and India. Production is projected to rise 210,000 barrels per day (bpd) in 2017, second only in the size […] More »

Tanzania: Oil firm says disappearance of staff, tankers ‘fishy”

01 April 2017, Dar es Salaam – The management of Ultimate Security Limited, whose two guards went missing when two oil tankers disappeared from the Mount Meru Petroleum Limited Depot, says ‘they smell fish’ in the whole racket. The Ultimate Security’s General Manager, Mr Eliuta Mwanjawike, says his firm is also worried about the safety […] More »

IMF supports fuel price increase in Mozambique

01 April 2017, News Wires – The International Monetary Fund (IMF) has argued that the Mozambican government was correct to increase fuel prices. In a press release received by AIM on Thursday, the Bretton Woods institution stated, “the raising of fuel prices will eliminate an expensive and very inefficient subsidy”. On Wednesday, the government announced […] More »

Kachikwu to attend OTC, to market Nigeria’s marginal fields bid rounds

01 April 2017, Sweetcrude, Abuja – Minister of State for Petroleum, Dr. Ibe Kachikwu, has revealed that he would be at this year’s Offshore Technology Conference, OTC, in Houston, Texas in the United States with the intention of marketing Nigeria’s marginal oil fields bid rounds to potential investors. The annual OTC, which attracts top oil […] More »

GE is sole bidder for Nigeria’s $2bn rail project

01 April 2017, Sweetcrude, Lagos – It has emerged that General Electric, GE, is the only firm that has sent in bid for the Nigerian railway concession project. The project is for two lines connecting Nigeria’s south to some cities in the north. GE sent in a $2 billion bid for the project at the […] More »

UK crime agency files fresh application to hold Deziani’s cash

Kunle Kalejaye 01 April 2017, Sweetcrude, Lagos – The United Kingdom National Crime Agency, NCA, has filed another application in the Westminster Magistrates Court to hold on to cash seized from Nigeria’s former Petroleum Minister, Diezani Alison-Madueke. The agency had in October 2015 seized 27,000 pounds from the former Nigerian oil minister after obtaining a […] More »

Eland produces 330,000 barrels from OML 40

31 March 2017, Sweetcrude, Abuja — Eland Oil and Gas Plc said it has produced over 330,000 barrels of crude oil from only one well in Oil Mining Lease (OML) 40 since the beginning of the year. The company further stated that it intends to start the work-over and side-track of the Opuama-7 well before […] More »