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Tag Archives: oil

Saudi unveils plan to live without oil by 2020

Riyadh, Saudi Arabia | AFP | Saudi Arabia said Monday it would create the world’s largest wealth fund and sell shares in state energy giant Aramco as it unveiled a vast plan to transform its oil-dependent economy. The announcement of the long-term reform programme, dubbed “Saudi Vision 2030”, marks the …

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Obiang leads Eq. Guinea from terror to oil

MALABO, Equatorial Guinea | AFP | Equatorial Guinea’s tough President Teodoro Obiang Nguema seized power almost 37 years ago from a feared and ruthless uncle and has steered the tiny but now oil-rich nation with an iron glove. Already Africa’s longest-serving leader, the 73-year-old looks set to win a fresh …

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Uganda in biggest tax evasion story

Panama Papers expose efforts plot to dodge taxes in oil deals When 370 journalists from 76 countries collaborate on an investigation, the resulting story is bound to be explosive. That is exactly what happened with what has come to be known as “The Panama Papers”; which is a huge leak …

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Angola, hit by collapse of oil prices, seeks IMF aid

Washington, United States | AFP Angola said Wednesday it had asked the International Monetary Fund for help after the crash in oil prices ravaged government finances. The IMF said discussions would begin next week in Washington on what could be a three-year support plan for the government. “The sharp decline …

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