Home » Archives by category » Business » Petroleum

Sonangol’s Slush-Fund Salary Payments

Sonangol’s Slush-Fund Salary Payments

Concerns over the mal-administration of the Angolan oil giant, Sonangol, continue to multiply, as the country’s prime source of foreign income haemorrhages millions of dollars on foreign (mainly Portuguese) ‘consultants’ close to the President’s daughter while defaulting on essential payments. Isabel dos Santos, appointed by her father to run Sonangol last June, maintains the PR […]

Aiteo emerges Nigeria’s leading oil & gas company with record 90kpod output in 1 year

Aiteo emerges Nigeria’s leading oil & gas company with record 90kpod output in 1 year

Integrated energy group Aiteo has announced a peak production of 90kpod just one year after its acquisition of sub-Sharan Africa’s reputedly largest onshore oil bloc OML 29. Aiteo acquired OML 29 in September, 2015 when oil major Shell Petroleum Development Company (SPDC) fully exited the facility. At the time of the divestment, average production was […]

The oil deal, the disgraced former Nigerian oil minister, and $800m paid via a UK bank

The oil deal, the disgraced former Nigerian oil minister, and $800m paid via a UK bank

Britain’s commitment to tackling high-end money laundering through the City of London is under serious scrutiny after it emerged that regulators appear to have waved through an $800m bank transfer to a convicted criminal as the proceeds from one of the most corrupt deals in the history of the oil industry. A joint investigation by […]

Sasol Reacts to Suspension of Foreign Workers In Mozambique

Sasol Reacts to Suspension of Foreign Workers In Mozambique

Reacting to the suspenson of 34 of its foreign workers in the southern Mozambican province of Inhambane, the South African petrochemical company Sasol has denied that it is in violation of Mozambican labour legislation. Last week, the General Inspectorate of Labour (IGT) in the Labour Ministry announced that it had suspended 34 foreigners, 17 of […]

U.S.$800 Million Bribe Alleged in Nigeria’s Malabu Oil Case

U.S.$800 Million Bribe Alleged in Nigeria’s Malabu Oil Case

Britain’s commitment to tackling high-end money laundering through the City of London is under serious scrutiny after it emerged that regulators appear to have waved through an $800m bank transfer to a convicted criminal as the proceeds from one of the most corrupt deals in the history of the oil industry. A joint investigation by […]

Oranto Launches $500-Million Oil Exploration Campaign in South Sudan

Oranto Launches $500-Million Oil Exploration Campaign in South Sudan

Oranto Petroleum will invest $500 million to develop South Sudan’s Block B3, launching a comprehensive exploration campaign starting immediately. The Ministry of Petroleum and Oranto Petroleum Company, South Sudan signed the exploration and production sharing agreement for the block today in Juba. The B3 area covers 25,150 square kilometers. Some aeromagnetic and seismic data have […]

Uganda Plans New Fuel Transport System Over Lake Victoria

Uganda Plans New Fuel Transport System Over Lake Victoria

Uganda has started the search for a consultant to undertake a study that will guide the creation of a well-managed transportation system of bulky petroleum products over Lake Victoria amid a poor road network that cannot adequately support the industry. The government says petroleum products continues to grow by at least 10 per cent, with […]

WSRW denounces illegal oil exploration by Glencore in occupied Western Sahara

WSRW denounces illegal oil exploration by Glencore in occupied Western Sahara

Western Sahara Resource Watch (WSRW) denounced the illegal oil exploration by the Swiss company Glencore off the coast of the occupied territory of Western Sahara. WSRW underlined in a communiqué that “Glencore” is accelerating the oil exploration off the coast of occupied Western Sahara, underlining that the company conducted other seismic surveys and concluded a […]

South Sudan Risks Losing Oil-Rich Abyei Due To Internal Strife

South Sudan Risks Losing Oil-Rich Abyei Due To Internal Strife

South Sudan risks losing the disputed oil-rich region of Abyei with internal strife taking most of its attention as Khartoum moves to entrench its administration across the border. President Omar al-Bashir declared last week that Abyei was part of Sudan’s territory and asked residents to apply for identification documents from the local administration answerable to […]

DR Congo, Tanzania, Zambia and Burundi to Meet On Lake Tanganyika Oil

DR Congo, Tanzania, Zambia and Burundi to Meet On Lake Tanganyika Oil

Four countries sharing the Lake Tanganyika basin will hold a meeting next week in the Democratic Republic of Congo (DRC) to discuss a joint exploration of oil and gas in the second deepest lake in the world. The minister for Energy and Minerals, Prof Sospeter Muhongo, yesterday told the august House that there are traces […]

Page 1 of 11123Next ›Last »

Widgetized Section

Go to Admin » appearance » Widgets » and move a widget into Advertise Widget Zone