Campaigners from fifty countries from around the world meeting in Montreal, Canada to strategise on pushing further the frontiers of transparency in oil, gas, and mining industries, have blamed opacity in oil and mineral licensing for the bad deals natural resource-dependent countries are often saddled with.
There are regrettable flaws in recent government moves to deregulate the downstream oil sector. The cost to the nation is equally regrettable. When on October 10, Mr. Aminu Babakusa, the Group Executive Director, Commercial and Investment of Nigerian National Petroleum Corporation (NNPC), announced November 1, 2009 as the date for commencement of the full deregulation of the sector, he could only ...
Long term lenders behind the massive Lake Turkana Wind Power Project - Kenya's largest green-field wind power scheme - are now asking for a government guarantee to cover the risks in the private-sector funded project.
UNTIL relatively recently, big oil gave little thought to sub-Saharan Africa beyond the coast of Nigeria and Angola. That's changing rapidly after a significant find off the Atlantic coast of Sierra Leone, where both Anadarko Petroleum and U.K.-based Tullow have exploration licenses, and another strike in Uganda, where Tullow operates.
British oil explorer Heritage Oil will sell its fields in Uganda to Italian oil group Eni SpA for between $1.3b and $1.5b, the London-based Sunday Times said yesterday.
UNRELIABLE and interrupted electricity supply has hindered industrial growth, a minister said last week.
An ambitious investment programme by the Kenya Electricity Generating Company could, in less than five years, end the East African powerhouse's reliance on expensive fossil-fuel based power from independent power producers.
The government's plan to introduce a bulk procurement system for petroleum products is threatened by a plot to halt or delay its implementation, even as the relevant consultancy firm presents its final report.
The people of Otuasega community in Ogbia local government area of Bayelsa State have raised alarm over the continued use of soldiers as instrument of intimidation by three multinational companies in the course of carrying out mining and exploration activities in the area.
The Rivers State House of Assembly is to hold an international roundtable on how to achieve and surpass the planned 6000 megawatts of power by next month by attracting private partnership into the sector.
A consultant for the Nigerian Extractive Industries Transparency Initiative, NEITI, yesterday disclosed that the deliberate failure of the Nigerian National Petroleum Corporation (NNPC) and the Department of Petroleum Resources, DPR, to effectively monitor crude oil production was responsible for the inability to know the correct revenue from the sector.
Afren Nigeria and its partner, Oriental Energy Resources, have announced completion of the Ebok-5 appraisal well, which had been drilled to a total depth of 3,743' md. The oil column identified is full to base in both reservoirs
In a sustained opposition to the deregulation policy of the federal government, the Nigeria Labour Congress (NLC) at the weekend vowed that members of organised labour would be called upon to take actions that would frustrate the policy.
Opec's president Jose Botelho de Vasconcelos said today the group sees global oil demand growing to 106 million barrels per day in the period from last year to 2030, up 20 million barrels.
Representatives from national, international and smaller contracting oil companies are scheduled to meet with African government representatives to discuss local content policy this December.
