Tag Archives: oil

Shanghai, China | AFP |  Top Chinese oil company CEFC China Energy on Tuesday denied any involvement in an alleged multi-million dollar bribery scandal that US investigators say helped the giant win business advantages in Africa. US officials announced Monday that they had arrested Hong Kong’s former home affairs secretary and …

Washington, United States | AFP |  US authorities have arrested Hong Kong’s former home affairs secretary and the ex-foreign minister of Senegal for leading a multimillion dollar bribery scheme in Africa on behalf of a top Chinese energy company, with some deals arranged in the halls of the United Nations. …

How US$7bn deals are reshaping relations in the region Kampala, Uganda | HAGGAI MATSIKO | If President Yoweri Museveni has a best buddy amongst his East African counterparts, it might as well be Tanzania’s John Pombe Magufuli. When they are not sharing a hearty laugh at an African Union meeting in …

Luanda, Angola | AFP |  Angolan President Joao Lourenco on Wednesday fired his predecessor’s daughter from her influential post as head of the Sonangol state oil company, the presidency said in a statement. Her appointment to the oil giant last year was widely criticised as a symbol of the nepotism …

Kampala, Uganda | THE INDEPENDENT | Oil prices are forecast to rise to $56 a barrel in 2018 from $53 this year as a result of steadily growing demand, agreed production cuts among oil exporters and stabilizing United States shale oil production, according to the World Bank’s Senior Economist John Baffes. …

Accra, Ghana | AFP | Ghana’s “long and arduous journey” to boost offshore oil exploration and extraction will be fuelled with billions of extra dollars after a key court victory over Ivory Coast. Thanks to efforts by successive governments and conquering lawyers at the International Tribunal on the Law of the …

  Hoima, Uganda | THE INDEPENDENT | President Yoweri Museveni and Tanzania foreign minister Dr. Augustine Mahiga have laid a foundation stone at the start point of the 1,445km-long East Africa Crude Oil Pipeline (EACOP) in Hoima, Uganda. Saturday’s function marked the climax of the visit by Tanzania’s president John Magufuli, who …

Mutukula, Uganda | THE INDEPENDENT | President Yoweri Museveni of Uganda and John Pombe Magufuli of Tanzania have today inaugurated the Mutukula One Stop Border Post and also laid the cross-border marker for the construction of the East Africa Crude Oil Pipeline (EACOP). The One Stop Border Posts (OSBP) launched …

Paris, France | AFP |  Sub-Saharan Africa nations are growing more dependent on China as an export market, putting them at greater risk to shifts in the Chinese economy, a study published Tuesday said. “There is no doubt about a strong dependence on China for countries that produce oil and …

Kampala, Uganda | THE INDEPENDENT |  Tanzania president Joseph Pombe Magufuli will visit Uganda this week to seal cooperation in areas of transport, power and oil. His 3-day State Visit will climax with laying of the second foundation stone for the East African Crude Oil Pipeline in Hoima on Saturday. …