Tag Archives: oil

Singapore, Singapore | AFP | Oil prices resumed their rise Thursday and held above the $50 barrier following OPEC’s decision to carry out its first output cut in eight years. The Organization of the Petroleum Exporting Countries at a meeting in Vienna on Wednesday agreed on specific targets to enact …

Warri, Nigeria | AFP |  Nigerian militants on Sunday blew up a state-run pipeline in the restive oil producing south, in the latest act of sabotage aimed against the strategic sector, a local official said. “The pipeline popularly known as the Abura line was bombed at about 7:30 am on …

VIDEO:President Yoweri Museveni has moved to end anxiety over the exploitation of the country’s oil and gas resource. Museveni told experts and investors earlier today that revenue from Uganda’s oil will only be used for capital expenditure. He called for more emphasis to be put on the development of other …

  London, United Kingdom | AFP |  King Emere Godwin Bebe Okpabi holds up a plastic bottle containing contaminated water from his community in Nigeria, proof of oil pollution that he blames on Royal Dutch Shell — and on which he hopes a London court will deliver justice. “My people …

VIDEO: Lands Minister Betty Amongi has warned that the increasing land wrangles in the oil rich Hoima district might scare away potential investors in the Albertine region. Her warning follows the increasing cases of land disputes where powerful individuals are allegedly illegally evicting locals without any compensation. The minister is pointing …

Washington, United States | AFP |  US President Barack Obama on Friday declared portions of the Arctic off-limits for oil exploration for the next five years, dealing a blow to Republican efforts to expand fossil fuel extraction. The decision means new oil and gas exploration leasing in the Chukchi Sea …

Maputo, Mozambique | AFP |  At least 73 people were killed and 110 others injured Thursday when a truck carrying petrol blew up in western Mozambique near Malawi, the government said in a statement. “The incident occurred when citizens tried to take petrol from a truck” in the village of …

Tehran, Iran | AFP | Iran signed a deal with France’s Total on Tuesday to develop a major offshore gas field, its first big contract with a Western energy firm since sanctions were loosened in January. Total will lead a consortium also including China National Petroleum Corporation (CNPC) and Iran’s …

Algiers, Algeria | AFP |  Algeria’s state energy company Sonatrach on Sunday awarded the China Petroleum Engineering and Construction Corporation (CPECC) a 380-million-euro ($420-million) contract to renovate its Algiers refinery. CPECC, which is affiliated to the China National Petroleum Corporation, will rehabilitate the refinery after Sonatrach severed an initial deal …

Luanda, Angola | AFP | Angolan state-owned oil company Sonangol rode the commodities boom that drove the country’s extraordinary growth after civil war ended in 2002, but today it symbolises a national economic crisis. The Luanda-based company has increasingly been in focus since Isabel dos Santos, the billionaire daughter of …