Oil prices rose above US$50 a barrel following OPEC’s historic agreement at its November 30th Meeting in Vienna to cut production for the first time since the global financial crisis eight years ago
OPEC reaches agreement on production cut
Exploration
African Petroleum exits as ExxonMobil enters Liberia
The West Africa-focused independent oil and gas exploration company African Petroleum has announced that it will drop its production sharing contracts (PSC) in Liberia after failing to extend its production sharing contracts for offshore blocks LB-08 and LB-09
224 companies bid for Nigerian crude oil lifting contract
The Nigerian National Petroleum Corporation (NNPC) has revealed that 224 companies have submitted bids seeking to be awarded contract to purchase and lift its crude oil grades for the 2016/17 term
Angola to see economic growth in 2017, IMF report states
The end-of-mission report by International Monetary Fund (IMF) Article IV consultation team in Angola states that output growth in the country will pick up by 1.25 per cent in 2017
COPL commences drilling on offshore West Africa
Canadian Overseas Petroleum Limited and ExxonMobil have commences drilling on the Mesurado-1 exploration well
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