The government of Tanzania is bracing itself to receive millions of dollars in capital gains tax following Shell’s acquisition of BG Group assets in Tanzania gas wells. The deal officially announced on February 22, 2016 amounts to $55 billion. BG Group Tanzania, with its partner Ophir Energy, has invested over $1 billion in a fast-track
Iran Oil Minister ask OPEC Countries to cut crude Production to save falling prices
OPEC member states should cut crude output to boost prices to a range of $70 to $80 a barrel, Iran’s Oil Minister Bijan Namdar Zanganeh said. “No one is happy” with prices at current levels, Zanganeh told reporters in Tehran. “OPEC should decide to manage the market by reducing the level of production.” Even so,
Nigerian President Muhammadu Buhari to Leave Oil Minister Post Vacant as way of Clearing Corruption
Nigerian President Muhammadu Buhari, in his bid to clear corruption in the Oil sector will leave the Petroleum Ministry vacant and under his close supervision, an official said. Femi Adesina, the spokesperson of ‘Buhari administration’ said the ‘strict president’ will not nominate a candidate for the post of petroleum Minister in Africa’s biggest oil producer.
British offshore firm ‘Soma Oil and Gas’ on spot over fraud in Somalia
British oil firm Soma Oil and Gas paid gross sums to the Oil ministry in Somalia, to extend the Oil exploration contract it signed with the war-torn country in 2013, the United Nations Somalia and Eritrea Monitoring Group (“UNSEMG”) has revealed. Soma Oil & Gas is an offshore private UK company founded in 2013 to pursue
Pipeline explosion kills 12 in Nigeria’s oil rich ‘Niger delta’
A crude oil pipeline belonging to Eni SPA, an Italian multinational Oil and gas company in the Nigerian oil rich Niger delta exploded, killing 12 workers on site. The men were part of a maintenance team, including security and environment officials, carrying out repairs on Thursday afternoon on the Tebidaba-Clough Creek line near the town of Azuzuama