Organization of the Petroleum Exporting Countries (OPEC) News

Yemi Osinbajo, Nigeria's Vice President

Buhari's sick leave re-energizes Nigeria's presidency

When protesters marched on Nigeria’s presidential villa earlier this month to complain about a biting recession, they were not repelled by baton-wielding policemen, the usual fate for anyone arriving uninvited at the gate of the country’s power center.

NNPC Towers, Abuja, Nigeria. Credit: iloveabuja.com.ng

Nigeria proposes broad oil sector overhaul and potential NNPC stock exchange listing

Nigeria outlined a plan to overhaul state oil company NNPC and eventually list it on the stock exchange in a bid to modernize and streamline the industry.

Akinwumi Adesina, President, AfDB

African economies are through the worst of downturn, says AfDB President Adesina

African economies are probably through the worst of their downturns and growth should accelerate next year, driven by investments in infrastructure and attempts to diversify from commodities, according to the African Development Bank.

Muhammadu Buhari, President of Nigeria

Nigeria's Buhari submits cabinet nominees, announces he will serve as Petroleum minister

Nigeria’s President Muhammadu Buhari on Wednesday submitted names to serve in his cabinet, four months since taking office and after announcing he intended to take personal charge of the country’s crucial oil portfolio.

Amy Jadesimi, MD, LADOL (Lagos Deep Offshore Logistics Base)

Nigeria's New Direction: Amy Jadesimi, MD, LADOL (Lagos Deep Offshore Logistics Base)

Muhammadu Buhari’s inauguration on May 29, 2015 has taken Nigeria in a new direction, one that is so far characterized by national pride and international confidence.

A construction worker walks on a scaffolding on a tunnel along the Nairobi-Thika highway project, under construction near Kenya’s capital Nairobi, September 23, 2011. REUTERS/Thomas Mukoya

Time to rethink our view of Africa's economy: Steven Schultz, Head of International Fund Solutions, MMI

Seven years have passed since the implosion of the global financial system and the largest bankruptcy filing in history – Lehman Brothers.

Aliko Dangote, Africa's richest man, is investing $11 billion to build a 500,000 barrel/day refinery in Nigeria, scheduled to come online by mid-2018.

Is Nigeria poised for a massive refining boom?

President Obama was not among the heads of state at the inauguration of incoming President Muhammadu Buhari on May 29, 2015. However, in his private conversations with Nigeria’s new president, he might offer Mr. Buhari some encouragement that, beyond the friendship between their nations, they share something else in common.

Nigerian presidential candidate Remi Sonaiya says "Women cannot keep on being cheerleaders in this country" (AFP Photo/Pius Utomi Ekpei)

Remi Sonaiya: Nigeria's first female presidential candidate done with 'cheerleading'

The two main candidates for the governorship of Nigeria’s Lagos state took to the stage, making a flurry of promises to the all-female audience at the select Cosmopolitan Women’s Club.

The final look from Nadir Tati’s “40 years Of Independence” collection (Photo Credits: Rui Vasco)

At Portugal's Fashion Week ModaLisboa, It Was Angola That Reigned

It is one of Europe’s longest standing fashion weeks, initiated in 1991, and concluded its 44th edition over the past weekend. ModaLisboa is the bi-annual event in which Portugal’s fashion capital Lisbon gets to show what its local fashion industry is all about.

Nigeria Strategy - H1 2015 - ARM (Report)

Nigeria Strategy - H1 2015: ARM (Report)

Global growth softened over H2 2014 as a tepid economic macro-picture across Europe and Japan combined with EM deceleration to offset robust growth in the US. Reflecting the uneven economic pattern across countries, IMF thrice downgraded global growth forecasts over H2 14.

Protea Hotel Fire & Ice! Melrose Arch, Johannesburg, South Africa. In April 2014, Marriott acquired Protea.

It's time to invest in Africa - Here are 3 ways to get started

Don’t underestimate how important Africa has become to the global economy. Across the continent, including Sub-Saharan Africa, business and infrastructure projects are booming, prompting comparisons with China 20 to 30 years ago.

Oil rig

Cheap Oil and Africa: The Winners, Losers, and In-Betweeners

When OPEC signaled that it would not put the brakes on oil production in late November, crude’s price plunged. The drop has caused particular hardship in some African countries while proving to be a boon in others.

Jose Eduardo dos Santos, Angola's President

Angola to further cut fuel subsidies in 2015 on low oil prices, says President Jose Eduardo dos Santos

Angola, Africa largest oil producer behind Nigeria, plans to keep decreasing fuel subsidies next year after it raised gasoline and diesel prices by 20 percent last week, President Jose Eduardo dos Santos said.

Diezani Alison-Madueke, Nigeria's Minister of Petroleum

Nigeria's petroleum minister Diezani Alison-Madueke appointed Gas Exporting Countries Forum (GECF) president

Nigeria’s Petroleum Resources Minister, Diezani Alison-Madueke, on Tuesday emerged the new president of the Gas Exporting Countries Forum, GECF.

Diezani Alison-Madueke, Nigeria's Minister of Petroleum

OPEC Said to Name Nigeria's Diezani Alison-Madueke as President for 2015

Diezani Alison-Madueke will succeed Libya’s Abdourhman Ataher Al-Ahirish as OPEC’s President next year, according to a delegate at the group, who asked not to be identified in line with policy.

Ngozi Okonjo-Iweala, Nigeria's Minister of Finance

Nigeria's 2014 GDP growth will exceed 6 percent: Ngozi Okonjo-Iweala, Nigeria's Minister of Finance

Nigeria’s finance minister said on Friday she is confident that growth in 2014 will be around the government’s latest forecast of 6.5 percent after discounting the economic impact of the insurgency waged by the Islamist group Boko Haram.

Wale Tinubu, CEO, Oando

Oando moves to Nigeria's top league with $1.5B ConocoPhillips deal

Nigerian oil company Oando completed a $1.5 billion deal to buy ConocoPhillips’s assets in Nigeria on Wednesday, catapulting it to be one of the top players in the West African country’s emerging indigenous oil and gas exploration industry.

Oil and Gas

Oando completes $1.65B acquisition of ConocoPhillips' Nigerian assets

Nigerian oil company Oando (OANDO.LG) completed a $1.5 billion deal to buy ConocoPhillips’s assets in Nigeria on Wednesday, catapulting it to be one of the top players in the West African country’s emerging indigenous oil and gas exploration industry.

Diezani Alison-Madueke, Minister of Petroleum Resources, Nigeria

Nigeria Proposes Oil Minister as OPEC Head

Nigeria has put forward its oil minister, Diezani Alison-Madueke, as a contender for OPEC’s top job, people familiar with the matter said Tuesday