Tag Archives: oil

The Hague, Netherlands | AFP | Kenya on Monday rebuked Somalia for dragging it before the UN’s top court to defend a maritime border dispute that could decide the fate of potentially lucrative Indian Ocean oil and gas reserves. In a hearing at the UN’s International Court of Justice, Kenya …

Nairobi, Kenya | AFP |  Kenya’s fight to hold on to potentially lucrative Indian Ocean oil and gas reserves, threatened by a maritime border spat with Somalia, goes before the UN’s top court in The Hague on Monday. The hearings, due to last through the week, are the first stage …

Singapore, Singapore | AFP |  Oil prices fell in Asia Friday as the prospects of higher output from Libya and Nigeria further fuelled oversupply concerns, cutting short a nascent rebound. Both contracts rose Thursday on news that 6,000 barrels of gasoline had leaked from the Colonial pipeline that carries fuel …

Geneva, Switzerland | AFP |  European oil companies, especially Swiss commodity traders, are exploiting weak African fuel standards by selling toxic diesel and gasoline across the continent, a campaign group said Thursday. A three-year investigation published by Switzerland-based environmental and economic group Public Eye did not accuse oil companies of …

Lagos, Nigeria | AFP | Thousands of passengers across Africa have been left stranded after Nigeria’s largest airline said Tuesday it had suspended operations and might remain grounded for several days. Arik Air attributed the “temporary disruption” to “pending approval of aircraft documentation related to insurance renewal… a challenge due …

  Lagos, Nigeria | AFP | Traffic jams may clog the city and the beaches look like garbage dumps, but for the Lagos state government developing tourism is now a do or die matter. Nigeria has survived almost exclusively on oil revenues for decades, but the plunge in crude prices …

VIDEO: The Ministry of Energy and Mineral development has awarded 8 petroleum production licences to oil companies– with production work expected to start within 18 months. The licenses that have been awarded to Tullow Uganda operations and Total E&P will see three partner petroleum companies start oil production in a total …

Uganda on Tuesday issued oil production licences to the French group Total and British company Tullow. Energy Minister Irene Muloni said first oil production is now expected in 2020. Experts say the government hopes to earn $1.5 billion a year from oil exploitation, particularly from taxes, royalties and a 15% share of the benefits …

Singapore, Singapore | AFP |  Oil prices fell for a third day in Asia trade Thursday after figures showing high US crude stockpiles and increased Saudi production. Official US data on Wednesday showed a jump in crude inventories, taking by surprise investors who expected a drawdown in supply, pushing prices …

President Yoweri Museveni started his two-day visit to Chad by touring their oil facilities on Sunday. In N’Djamena for the swearing-in ceremony of President Idriss Deby to his fifth term in office, Museveni jumped on a helicopter to inspect the country’s oil refinery. Over 15 heads of state are expected to …