Oil giant Shell has begun evacuating the dependents of hundreds of expatriate staff from the Niger Delta after local militants planted a car bomb in a residential compound that damaged cars, although no one was injured. The pullout involves some 400 foreign family members from Port Harcourt, Warri and Bonny Island. Staff will stay put … Read More
African Oil
“Illegal” Oil Deal in Western Sahara
The Dublin-based company Island Oil & Gas has announced an onshore oil exploration deal in “occupied” Western Sahara that it has signed with the Moroccan Government. The deal is hugely controversial as NGOs argue that it could break international law. Protests against the “illegal deal” are already being formulated and the Irish company now risks … Read More
Egypt Seeks Energy Ties with Other African States
Egypt has said it is putting all its effort and expertise in the oil and natural gas sectors to serve African countries. Egyptian Minister Sameh Fahmi made the promise whilst addressing the first conference of oil and energy ministers of the African Union member states.
Angola at Risk of Resource Curse
The World Bank has warned that Angola risked the “resource curse” if it did not manage oil revenues better to promote development. “The oil curse is a possibility here – but it has the opportunity to change the curse into a blessing if it puts good policies in place and improves transparency,” World Bank economist, … Read More
More Kidnaps in Nigeria
Nigeria’s torrid troubles show no sign of abating with the news that gunmen attacked an Agip oil terminal, killing one person and taking four foreigners hostage. Italy’s Foreign Ministry has confirmed that that three Italians and one Lebanese national were kidnapped.
Shell to Inspect Damaged Nigerian Oil Facilities
After a three-way meeting at the weekend with Nigerian government officials and local groups, Shell will start inspecting its facilities in the Western Niger Delta with a view to resuming 500,000 barrels per day of oil output. At the talks they agreed to start joint inspections of the Forcados and EA oilfields shut-down by a … Read More
The End of Oil in Africa?
As the oil price continues to rise, many African oil-importing countries are beginning to look at ways of lessening their dependence on the fuel. Whilst continuing high oil prices are good news for the 13 African countries which are net oil exporters, for the 42 oil-importing countries, higher prices are creating serious challenges.
Oil Worker Killed in Nigeria
A British oil worker has been killed and an Italian seriously wounded during a botched attempt to free seven workers seized by Nigerian militants in the troubled Niger Delta. A Nigerian navy spokesman told the BBC that the remaining five foreign hostages had been rescued unharmed, while two militants were killed.
“Living Memorial” Unveiled for Saro-Wiwa
Last Friday was the 11th Anniversary of Ken Saro-Wiwa’s execution. To mark the occasion, a “living memorial” to Ken was unveiled in London. Saro-Wiwa and eight other Ogoni activists were murdered by the Nigerian junta in November 1995. Their only crime was to fight against the oil companies, namely Shell and ask for a greater … Read More
Nigeria: 1.5 Million Tons of Oil Spilt in 50 Years
Here is the official news: Oil giant Royal Dutch Shell has driven the FTSE London market to a new five-and-a-half year high, as shares in the company lifted 3 per cent after its third quarter figures came in better than expected, despite a 34 per cent fall in net earnigs. The decline in profits was … Read More