The ‘not so good’ awaiting Nigeria Oil industry amid the threat of falling prices in 2016

This coming year is shaping up to be a difficult one for economies that are disproportionately dependent on oil. This is especially true for Nigeria, where there’s a possibility of renewed conflict in the country’s oil-producing Niger Delta region, according to SBM Intelligence’s recently published “Nigeria in 2016” report. The global oil picture is stacked against countries like

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OPEC says Oil prices will recover by 2020

By agencies… Oil producers’ group Opec has said it expects oil prices to recover to $70 a barrel by 2020. Prices have fallen from more than $110 a barrel in the summer of 2014 to less than $37 a barrel now due to oversupply and slowing demand. But Opec said oil prices would begin to

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Pan Africa Energy Tanzania draws $20 Million from International Finance Corporation to finance gas Field

Orca Exploration Group  announced that its subsidiary, Pan African Energy Tanzania Limited (PAET) has made an initial draw-down of US$20 million from the available US$60 million International Finance Corporation (IFC) loan facility which was signed on 29 October 2015 PAET intends to make additional drawdowns of the Loan which will be subject to meeting all

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