Nearly four months after the initial release of the Panama Papers, investigations into the use of offshore accounts to channel illegal funds have now revealed a large-scale network of offshore deals that took place across Africa. Many of these deals expose misuse of corporate power towards paying exorbitant bribes to win control of natural resources
New Report projects Kenya annual Oil Revenues between $2.6 billion-$5 billion at Peak
At the commencement of Kenya oil production in 2021 (Ceteris Peribus), national revenues will peak at USD 2.6 billion per year with oil prices at $45/bbl and rise to more than USD 5 billion per year at $85/bbl. The details are reviewed in a report titled , “Potential Government Revenues from Turkana Oil” Released by the Kenya
Open Letter to President Yoweri Museveni. Support a pipeline through Tanzania not Kenya
By Angelo Izama… Dear Mr. President (Elect) Yoweri Museveni I hope this letter finds you well. By judging from the reporting of your trip to Nairobi over the oil pipeline issue the Kenyan political establishment expects nothing less than an agreement to export oil through Lamu. The Citizen reported that the talks had“collapsed”, for example,
Major Oil producers plan to meet in Russia to agree on Output as way of saving the falling Crude Prices
Key members of the Organization of Petroleum Exporting Countries (OPEC) intend to meet with other producers in Russia on March 20, 2016 to renew talks on an agreement to cap oil output, Nigeria’s petroleum minister said. Russian State Run news channel RT has also confirmed the development. There will be a “dramatic price movement” when
Uganda Receive Bids for first Competitive Oil Exploration Licencing Round from Seven Firms
Uganda has received seven bids for six oil exploration blocks offered in a licensing round and it plans to chose the winners and sign deals by the end of June, the Ministry of Energy and Mineral Development said . The firms that submitted bids are: Armour Energy Limited of Australia, WalterSmith Petroman Oil Limited of
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