Nov 5 (Reuters) – A sharp drop in global oil prices has
raised the twin spectres of a potential currency devaluation and
budget shortfalls in Nigeria just as Africa’s biggest economy
gears up for a closely fought and costly presidential election
Nigeria, the continent’s top producer, relies on oil for
only 14 percent of its gross domestic product (GDP) but crude
makes up 95 percent of foreign exchange and about 80 percent of
government revenues, both of which have shrunk rapidly as Brent
crude lost more than a quarter of its value since June.
LAGOS/LONDON (Reuters) – A doctor in Nigeria’s oil hub of Port Harcourt has died from Ebola after treating a contact of a Liberian-American man who was the first recorded case of the virus in Africa’s most populous country, the Health Ministry said on Thursday.
Health Minister Onyebuchi Chukwu said in a statement that the doctor fell ill after treating a patient who was a contact of Patrick Sawyer, who died from Ebola in Lagos after flying in from Liberia last month.
LONDON/BENGHAZI, Aug 28 (Reuters) – Libya’s Waha Oil Co. has
resumed a small volume of Es Sider crude oil production, a
senior Libyan oil official said on Thursday in the latest sign
that output is improving despite unrest in the country.
The oil grade will be exported through the Es Sider port,
the country’s largest export terminal, which has reopened after
being closed for a year due to protests and maintenance.
LONDON, Aug 26 (Reuters) – Brent crude climbed towards $103
a barrel on Tuesday, rising for a second session, although
persistent supply pressure and weak economic data in major
consumer countries curbed gains.
The benchmark is set for a second straight monthly decline
in August as slow growth in China and Europe has curbed oil
demand and led to a supply glut in the Atlantic Basin,
offsetting the impact on prices from world political tensions.
LONDON, Aug 21 (Reuters) – An Iraqi Kurdish crude oil tanker
has reappeared off the coast of Israel having offloaded its
cargo, ship tracking data on Reuters showed, in the latest sign
the autonomous region is finding buyers for its oil in defiance
It was not possible to determine who bought the oil or where
it was sent to, but crude originating from Iraqi Kurdistan was
delivered to Israel in June even though many Middle Eastern
states refuse to trade with the country.
LONDON, Aug 20 (Reuters) – A tanker carrying crude oil from
Iraqi Kurdistan reappeared unladen on Aug. 19 about 30
kilometres off the coast of Israel, ship tracking data on
This is the second time the Kamari has appeared in the area
in the last two weeks carrying Kurdish oil.
LONDON/TRIPOLI, Aug 19 (Reuters) – Libya is due to start
loading its first crude oil tanker from top port Es Sider on
Tuesday following a year-long blockade by eastern federalists, a
Libyan oil official and trading sources said.
The country’s oil industry is making a modest comeback,
restarting production and exports even while Tripoli has become
a battleground for rival armed factions amid the worst violence
since the 2011 civil war.
LONDON (Reuters) – Iraqi Kurdistan has delivered its third major cargo of crude oil out of a Turkish port and a fourth is sailing to Croatia, showing the autonomous region is finding more buyers despite legal pressure from Baghdad and setbacks in the United States.
The Kurdish Regional Government (KRG), whose peshmerga forces are being supported by U.S. airstrikes in their battle against the radical Sunni militants of Islamic State, has been in a long constitutional fight with Baghdad over independent oil sales.
LONDON, Aug 15 (Reuters) – Iraqi Kurdistan has delivered its
third major cargo of crude oil out of a Turkish port and a
fourth is sailing to Croatia, showing the autonomous region is
finding more buyers despite legal pressure from Baghdad and
setbacks in the United States.
The Kurdish Regional Government (KRG), whose peshmerga
forces are being supported by U.S. airstrikes in their battle
against the radical Sunni militants of Islamic State, has been
in a long constitutional fight with Baghdad over independent oil
HOUSTON/LONDON (Reuters) – U.S. authorities were set on Tuesday to seize a cargo of crude worth more than $100 million from Iraqi Kurdistan anchored off the Texas coast after a judge approved a request from Baghdad, raising the stakes in an oil sales dispute between Iraq’s central government and the autonomous region.
The tanker United Kalavrvta, carrying some 1 million barrels of Iraqi Kurdish crude oil, arrived near Galveston Bay on Saturday, but has yet to unload its disputed cargo.