Dangote Industries said that the recent discovery of oil in Lagos State in commercial quantity is a good sign for the development of the oil and gas industry in the country.
Italian energy company Eni connected the Laarich East-1 well in the Sahara desert of Tunisia to production, with a reported output rate of 2,000b/d of oil.
Upstream assets in Algeria, Iraq and Malaysia have pushed oil and gas production by Indonesia's Pertamina Internasional Eksplorasi and Produksi (PIEP) to surpass its target in 2016 by 15%.
The Niger Delta Greenland Justice Mandate blew up the Afiesere – Ekiugbo delivery line, a major crude oil shoreline belonging to the Nigerian Petroleum Development Company (NPDC) in Ughelli, Delta State.
Tethys Oil said its share of oil production from onshore operations at Block 3 and 4 in Oman was more than 12,400b/d in August, about 5% increase from July levels.
Nigeria will sell off 15% of the Nigerian National Petroleum Corporation's (NNPC) and Nigeria LNG Limited's (NLNG) oil and gas assets to help revive the country's economy, with an expected yield of $10b.
Nigeria spent an estimated $35b as subsidy on petroleum products out of the $300b earned from crude oil over the course of 5 years since 2010. This amounts to approximately $7b annual expenditure on subsidies.