The effect of strikes on exports saw the current account deficit widen by almost R5-billion.
Nigeria will see massive growth as Africa's richest man Aliko Dangote took a $3.3-billion loan that will turn the country into an oil exporter.
The countryâ€™s wells have remained blocked by hostility with Sudan, but it has huge agricultural potential.
Nigeria has appealed to foreign governments to help crack down on crude oil theft.
A probe alleging Nigeria has lost out on billions of dollars through questionable practices in the oil-and-gas industry has stirred controversy.
Nigeria's Cabinet has approved a final draft of an oil law that will be sent to President Goodluck Jonathan before going to Parliament in a few days.
The companies were asked to attend the hearing to offer their views on how best to reform the role of the department.
The son of Equatorial Guinea's president, who is also a government minister accused of corruption, has been getting cozy with the Mswati clan.
The president of a foreign oil company in South Sudan has been asked to leave the country over allegations he conspired with Sudan to steal oil.
When Nigerian-American businessman Kase Lawal courted Thabo Mbeki in an oil deal South Africa got screwed. Now he is cosying up to Jacob Zuma.
Sudan and South Sudan signed a security agreement which aims to defuse tensions over oil payments which officials had warned could spark a war.
China has become Iran's top trading partner as the sanctions against the Islamic republic have become progressively tougher.
Should sanctions halt or cut the export of oil from Iran to South Africa, the department of energy says the country would struggle to fill the gap.
South Sudan has signed an agreement with Kenya to build an oil pipeline to a Kenyan port, freeing it from reliance on Sudan.
South Sudan has ordered oil companies to shut down oil production within two weeks, to prevent Sudan from stealing more oil from the new country.
The government must prepare immediately for disruptions in crude oil supply from Iran.
Norway's Statoil has announced a major oil discovery in the Barents Sea that could contain up to 300 million barrels of crude.
Oil prices fell to near $101 a barrel on Monday in Asia amid investor concern over the outcome of a meeting between the leaders of Germany and France.
An already frail economy will come under more pressure when the EU ban comes into effect.
Latest Shell oil spill is comparable to the Exxon Mobil spill of 1998, say authorities as emergency measures are put in place to protect the coast.