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Rising Fuel Prices, Higher Taxes to Push Up Kenya, Uganda Inflation

Rising Fuel Prices, Higher Taxes to Push Up Kenya, Uganda Inflation

Kenya and Uganda face a higher cost of living in the second half of this year, driven by a surge in fuel prices, increased taxation and weakened local currencies. Reports by their respective central banks have said that this will translate to higher import bills. In Kenya, goods and services prices will be pushed up […]

DR Congo Will Open Virunga, Salonga Parks to Oil Companies

DR Congo Will Open Virunga, Salonga Parks to Oil Companies

Kinshasa has defended its right to declassify sections of the parks over the protests of environmental activists. The two UNESCO World Heritage sites are home to countless rare plants and animals. The government of the Democratic Republic of Congo said late on Friday that it was opening parts of its famous Virunga and Salonga National […]

Nigerian Navy Announces Destruction of 1000 Illegal Refineries in 29 Days

Nigerian Navy Announces Destruction of 1000 Illegal Refineries in 29 Days

The Nigerian Navy Ship (NNS) DELTA on Wednesday said it had destroyed over 1000 illegal refineries with swamp buggies in the Delta creeks. Speaking with journalists in Warri, the Commander, NNS DELTA, Ibrahim Dewu, said the illegal refineries were destroyed in the last 29 days in its ongoing raids. He said the illegal refineries and […]

Malabu Scandal – How Etete Bought Luxury Dubai Properties With Funds

Malabu Scandal – How Etete Bought Luxury Dubai Properties With Funds

A leak of private property data in Dubai has shed new light on how the proceeds of a notorious $1.3 billion oil deal involving Shell may have been spent on luxury villas in the secretive Arab Emirate. PREMIUM TIMES’ UK partner, Finance Uncovered, has discovered the name of former Nigerian oil minister Daniel Etete among […]

Liquefied Natural Gas Production – Cameroon Puts Second Project On Track

Liquefied Natural Gas Production – Cameroon Puts Second Project On Track

Government and New Age have signed a gas convention agreement covering the Etinde field project which will be the largest private investment in the country in the last five years. The government of Cameroon and privatelyowned British company – New African Global Energy (New Age) LNG (Liquefied Natural Gas) – have reached a gas convention […]

South Africa Fuel Price Hike – The Knock-On Effect on Your Pocket

South Africa Fuel Price Hike – The Knock-On Effect on Your Pocket

Economists have warned that the 85c rise in the fuel price will have far reaching effects on goods and services, Eyewitness News reports. “There are international factors that, unfortunately, will influence inflation, which ultimately means interest rates won’t come off again in the short term as well. This will have all sort of knock-on effects […]

Kenya’s Black Gold Hunt Shows Results – 7 Years Later

Kenya’s Black Gold Hunt Shows Results – 7 Years Later

Kenya’s ambition to become one of the global oil producers was boosted yesterday following the flagging off of the first barrels of the resource destined for Mombasa from Turkana fields. President Uhuru Kenyatta led a host of local leaders to celebrate the feat that enabled the country to join Uganda as the only two oil-producing […]

African national oil companies (NOCs) need to evolve for the future in light of a challenging and disruptive environment: PwC analysis

African national oil companies (NOCs) need to evolve for the future in light of a challenging and disruptive environment: PwC analysis

NOCs across Africa have an enormous opportunity to secure a more sustainable future by transforming into “national energy companies” (‘NECs’), escaping the economic trap of a lower oil price and embracing the disruptive forces unleashed by climate change and a lowcarbon world. A new era of lower oil prices is challenging business models that have […]

A bright future for Ugandan oil and gas sector

A bright future for Ugandan oil and gas sector

The International Monetary Fund recently stated that the oil reserves in Uganda may account for around four percent of the country’s economy annually in the next few years if managed well. These sentiments were echoed by speakers and delegates attending the Uganda International Oil & Gas Summit in Kampala Uganda. Addressing government officials and delegates, […]

China’s Foreign Policy Experiment in South Sudan

China’s Foreign Policy Experiment in South Sudan

China’s longstanding principle of non-interference in other states’ internal affairs is evolving with its growing global footprint. As Chinese overseas investment and business links grow in scope and depth, Beijing faces increasing threats to its citizens, economic interests and international reputation. That, in turn, has confronted China with the inherent limitations of its traditional hands-off […]

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