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Tag Archives: oil

Oil prices climb on big fall in US stockpiles

New York, United States | AFP |  A big drop in US crude stockpiles sent oil prices sharply higher Wednesday. The US benchmark West Texas Intermediate for delivery in November jumped $1.29 to $45.34 a barrel in New York trade. In London, Brent North Sea oil for November delivery advanced …

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Traders selling dangerously dirty fuel across Africa

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 …

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Thousands stranded as third Nigerian airline grounded

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 …

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Now or never for Lagos tourism sector

  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 …

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VIDEO: Uganda awards Oil Production Licences to Tullow, Total

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 …

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