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Tag Archives: oil

Nigeria targets oil companies for a greater share of profits

Lagos, Nigeria | AFP | In a move Nigeria’s president hailed as a “landmark moment”, Africa’s largest oil producer approved legislation this week to bolster its share of revenues from international majors. The authorities say the amendment — heralded as the biggest change in decades to its production sharing deals — will …

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Putin begins Saudi Arabia tour

Oil, Iran top agenda as Putin visits Saudi Arabia Moscow, Russia | AFP | Russian President Vladimir Putin will visit Saudi Arabia on Monday, where he is set to seal oil agreements as well as use his influence to defuse rising tensions in the Gulf. The meeting with King Salman …

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Khartoum says renegotiating oil deal with Juba

  Juba, South Sudan | AFP |  South Sudan said Monday it was renegotiating an oil deal with Khartoum, as it will not meet a December deadline to finish paying $3 billion (2.7 billion euros) agreed as compensation for the oil-rich nation’s 2011 secession. South Sudan and Sudan in 2012 …

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Mutebile speaks out on ‘Ugandan oil curse’

Borrowing against future oil revenue pushes Uganda to Resource Curse – Mutebile Kampala, Uganda | THE INDEPENDENT | Bank of Uganda (BoU) Governor Emmanuel Tumusiime-Mutebile has said the expectation of oil revenues has pushed Uganda to go for more expensive loans to finance infrastructure projects, a precursor for a resource …

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