International

Crude oil also known as petroleum is an unprocessed oil found deep in the ground. In this video by How Its Made, learn what goes on in an oil block and how petroleum is refined and becomes usable. https://www.youtube.com/watch?v=4XgwF_oboPY

The North Sea area which was once dismissed as potential area for oil and gas exploration could actually hold oil and gas reserves, some geologists have claimed. The geologists at the University of Aberdeen in the UK have discovered a 7,000m² swathe of the North Sea area. The North Sea volcanoes were earlier thought to contain magma…

The US has finally given Venezuela a clear escape route from its current sanctions which is fast crippling the South American country's oil sector. But the solution is not going to come on a silver platter. The solution according to reports by international media might be to show Maduro the door as the Trump administration recently told…

Ghana’s overall crude oil production is expected to increase to 500,000 barrels in 2023. Minister of Finance, Mr. Ken Ofori-Atta disclosed this after he led a delegation to address 20 key international companies at a meeting in Oslo, Norway. According to him “Overall, crude oil production is expected to increase from 196,089 barrels per day…

A new report reveals that China and Nigeria are expected to be the major contributors to the global refining industry capacity growth between 2019 and 2023. According to the report by GlobalData, a leading data and analytics company, the projects planned and announced by the two countries for the five-year period show the duo will take the lead…

Senegal has released a new oil code for new license holders in the country to increase state participation in projects and higher royalties. This was made known by its Oil and Energy Minister, Mansour Elimane Kane who responded to questions on the matter adding that lawmakers had approved the code last month. The new code sets a fixed…

It appears India is attempting to defy warnings issued by the United States to countries not to buy Venezuela’s oil amid the country's current political mayhem. India's Ministry of External Affairs (MEA) issued a strong statement signaling its dismay over the US pressure tactic, according to Sputnik News. The U.S. National Security…

The Turkish Government and investors from the country are interested in Cameroon’s energy sector’s production and distribution of electricity. This was disclosed by Turkey’s Ambassador to Cameroon, Ayse Sarac, during a courtesy visit to Cameroon’s Minister of Water Resources and Energy, Gaston Eloundou Essomba. Investing in Cameroon’s water…

Angolan Head of State, Joao Lourenco recently fired Secretary of State for Petroleum, Paulino Fernando de Carvalho Jeronimo. He was replaced by Jose Alexandre Barroso. Angop reported that though Paulino Fernando de Carvalho Jerónimo was dismissed as petroleum minister, he was however appointed Chief Executive Officer of the National Agency…

Egypt’s largest-ever oil and gas exploration tenders on Tuesday saw Royal Dutch Shell, Eni, BP, Exxon Mobil, and other energy companies emerge winners. The tender was in a bid for the country to sustain an investment upswing spurred by major discoveries. Exxon Mobil’s entry into gas exploration in Egypt was recognized, while Shell was handed…