Why The East African Oil Bonanza Remains A Dream… For Now

When Tullow Oil (Tullow) announced the basin opening finds in Uganda and Kenya in 2009 and 2012, oil prices were soaring and both countries were jubilant over joining Africa’s oil boom. Undaunted by the collapse in oil prices, Uganda, Kenya and their exploration partners press forward with development of their massive oil fields estimated at […]

Nigeria Lost $50 Billion Investment Over Non-Passage of Petroleum Industry Bill

Mr. Sergius Oseasochie is the Managing Director/CEO, Relentech Integrated Services Ltd, Nigeria. He was recently elected into the House of Representatives to represent Esan North-East/Esan South-East of Edo State. In this interview with Ediri Ejoh, he lamented the non-passage of the Petroleum Industry Bill (PIB) by the seventh National Assembly and also emphasized the need […]

Mammoth rail network to put West African economies on the right track

Extensive West African rail network planned to connect regional resource rich mines

When it comes to minerals found in our phones, laptops, cars and planes, most are found in the resource-rich mines of West Africa. Mineral exports are a major economic driver of nations such as Nigeria, Burkina Faso and Niger, and are predicted to rise from 109,000 tonnes a year to 3.4 million tonnes a year […]

Lucky Countries Or Lucky People: Will East Africans Benefit From Their Natural Resource Discoveries?

Lucky Countries Or Lucky People: Will East Africans Benefit From Their Natural Resource Discoveries?

Reuters/Mohammed Nureldin Abdallah – Young men work at a collection point for used oil in the capital Khartoum, October 29, 2014. Luck has struck the region of East Africa: for a couple of years now, new announcements of natural resource discoveries are being made every few months. Mozambique has found some of the largest natural […]

West Africa: ‘Growing Local Capacity, Technology Advancement Crucial to Unlocking West Africa’s Oil Potential’

FOR the West African sub-region to optimally benefit from its abundant hydrocarbon resources, they need to heavily invest in local capacity and technology advancement has been stressed. Specifically, the organisers of the just concluded 19th Offshore West Africa Conference and Exhibition (OWA), PennWell International called for deeper input of indigenous operators in the quest to […]

North African Importers to Reap Benefits of Oil Price Fall

Lower oil prices are poised to give a big boost to North Africa’s energy importers, steadying their government budgets and reducing fuel subsidy bills, according to a recent Capital Economics note. The benefits will be felt most strongly in Morocco, the note says, where net fuel imports are the highest in the region: more than […]

Mutebile - Bank of Uganda Governor

Uganda cancel bond sale coinciding with drop in oil price

Uganda’s central bank said on Wednesday it cancelled a scheduled auction of two and five-year treasury bonds after would-be investors sought unacceptably high returns. A total of 180 billion shillings ($65 million) of the re-opened two- and new five-year notes was on offer. In a statement Bank of Uganda (BoU) said it had scrapped the […]

Mozambique’s gas seen as possible solution to S.Africa’s Energy Crisis

Pretoria, Dec 26 (Prensa Latina) Authorities of the South Africa”s Energy Department and private-sector businessmen are seeking call options in Mozambique to solve its domestic electricity crisis, reported AFK Insider journal, specialized in African economic issues. According to the source, a negotiation is underway for the joint development and construction of a gas pipeline of […]