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By Anas Alhajji… The Organization of the Petroleum Exporting Countries is dead. Saudi Arabia killed it. Now, OPEC is just a toothless zombie, attracting attention, but without having any impact on the living. Few have noticed OPEC’s demise for a simple reason: it never really had the impact that it was widely perceived to have.
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
Critics point out that ordinary people have not benefited from oil and gas exploitation in many African states. Billions of dollars in revenue have had little positive impact on the lives of most people in countries like Angola and Nigeria. Local content policies have been expanding across Africa and are currently being drafted in Uganda, Tanzania,
By Christina Malmberg Calvo Uganda is striving to achieve middle income status by 2040, and a lot of optimism and hope is riding on the 6.5 billion barrels of crude oil in the Lake Albert basin. Many natural resource countries, however, have not fared well, and are struggling with inflationary pressures that affect competiveness, unsustainable
Angola’s state-run oil giant Sonangol, recently taken over by the president’s daughter, has announced a gas discovery in the offshore Kwanza Basin that could hold 813 million barrels of oil equivalent, news agencies report. The discovery is in Block 20/11 and BP Plc holds an interest in this block along with the Angolan state company.
When delivering a keynote address at the Second Oil and Gas Conference 2013, on “Planning for Oil and Gas Industry for Rapid Socio-economic Development” the former Executive Secretary of Tanzania’s President’s Office, Planning Commission, and Current for Finance and Planning, Dr Philip Mpango said regulating of production as well as revenue flows from oil and
Damage to South Sudan’s oil fields after more than two years of civil war will hamper plans to boost output, Petroleum Minister Dak Duop Bischok said. The government is currently assessing the extent of repairs that need to be made to production facilities in the northern Unity and Upper Nile states, Bischok said Thursday in
U.S. explorers aren’t the only ones idling rigs as sub-$50 crude forces oil and gas drillers in Africa to slow their search for new reserves. The number of oil and gas rigs offshore Africa remained at 20 in April, the lowest since 2009, according to data published on Friday by Baker Hughes Inc. Onshore rigs fell
By Mbatau wa Nga The announcement that Uganda and Tanzania had signed an agreement to build an oil pipeline between the former’s oil fields and Tanga Port did not surprise analysts following the ping-pong game between Kampala, Nairobi and Dar-es-salaam. This should not have surprised Kenyan policy makers, either, because Uganda had contracted Total, a