Angola, Equatorial Guinea and South Sudan are among nations forecast to see 40 percent or more in lost revenues as the world moves away from fossil fuels, according to a report released Thursday by Carbon Tracker. They’re among the most vulnerable of 40 nations studied, with economies that rely on…
A decision by Dutch courts to hold oil giant Royal Dutch Shell responsible for damages in Nigeria was met with disappointment from the company, even as campaigners celebrated a victory in the years-long case over oil spills that affected farmers in villages near its pipelines. “This is a hopeful day…
Nine Nigerian nationals working aboard the Sendje Berge have been abducted by armed attackers, according to vessel operator BW Offshore. The nine were taken about 4:20 a.m. local time on Thursday, said the company in a statement. The incident happened on the Okwori oil field, located offshore of Bonny Island…
There are now nearly 10,000 confirmed coronavirus cases in 51 African nations, with the Africa Centres for Disease Control and Prevention reporting 442 fatalities as of Monday. Yet as the global pandemic continues to impact the continent, there’s growing concern over the economic impacts as well. A newly released report…
By NJ Ayuk, African Energy Chamber Sometimes it is easy to forget how interconnected human lives across the globe have become. Perhaps we no longer talk as much about globalization as we used to in the 1990s because it is no longer an issue to be discussed or protested against,…
The environmental records of oil majors with operations in Nigeria have long been placed under scrutiny, along with investigations into corruption and human rights violations. This year promises to be a watershed year for cases involving Shell entities, according to a summary from Amnesty International. The organization says at least…
Participants in the three-day African Oil & Power conference, which runs through Friday in Cape Town, are showcasing African industry’s efforts to align with this year’s theme of “Make Energy Work.” Gwede Mantashe, the Minister of Mineral Resources and Energy in South Africa, served as keynote speaker on Thursday with…
The heightened rhetoric following Saturday’s attack on Saudi Aramco oil infrastructure seemed more heat than light, as the United States accused Iran of being responsible – which Iran denies – and threatened retaliation in keeping with the Kingdom of Saudi Arabia’s wishes. It’s still uncertain how much structural damage was…
By Miguel Sanz João Lourenço has been president of Angola since September 2017. About one year later, he cemented his hold on power by taking over the chairmanship of the ruling Movimento Popular de Libertação de Angola (MPLA). Although he reshuffled the government, for instance by replacing the transport minister, and the…
Christine Lagarde, managing director for the International Monetary Fund (IMF), completed a recent visit to Angola with a warning that the OPEC nation – Africa’s second largest oil producer, behind Nigeria – needs to shift away from its oil reliance. “Angola has come a long way since the end of…
The Nigerian people were cheated out of an estimated USD$6 billion when a 2011 oil rights deal enriched its own officials but really benefited two international oil majors – Royal Dutch Shell and the Italian Eni – instead of Nigeria, according to a report released Monday by London-based NGO Global…
South Sudan’s oil production is recovering from years of conflict, according to Ezekiel Lol Gatkuoth, the country’s Minister of Petroleum, but many obstacles remain even as oilfield operations come back online. Security was top of mind as South Sudan took the spotlight during the Africa Oil & Power conference in…
The African continent is attracting some USD$20 billion in energy investment from government-backed development institutions across the world each year – but far too much of it promotes fossil fuels rather than the shift to renewable energy. That’s according to a new analysis from Oil Change International, an advocacy organization based in…
The central African nation of Congo Brazzaville has become the newest member of the Organization of the Petroleum Exporting Countries (OPEC), following the conclusion of the OPEC member meeting in Vienna on Friday. It is now the 15th nation to become a member, seven of them on the continent. The…
No one talked very much ahead of the fossil-fuel conference hosted by Pope Francis at the Pontifical Academy of Sciences at the Vatican this weekend: not the participants, not the Vatican, and not the University of Notre Dame in the United States, a Roman Catholic institution that co-sponsored the event….