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Here is How the Looming fall in Oil Demand Could Trigger Another Market Slump

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By Gaurav Sharma… Towards the middle of the current trading year, a glut ridden oil market had started showing some signs of rebalancing. Decline in US oil production…

Ghana announce Deficit in Oil Earnings, The Saturated Market is Hurting the Once Hopeful Producer

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Ghana’s crude oil revenues will be 1.4 billion cedis this year, lower than a previous estimate of 2 billion cedis, the finance minister said in a budget review….

New ‘Panama papers’ Expose Oil Companies and Gov’t Officials in Misuse of Corporate and Political power in Africa

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Nearly four months after the initial release of the Panama Papers, investigations into the use of offshore accounts to channel illegal funds have now revealed a large-scale network…

Tanzania adopts ‘Bulk Procurement System’ to Guide Downstream Operation of Gas Industry

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The government of Tanzania has adopted bulk procurement system for the importation of liquefied petroleum gas (LPG) in the country, effective from September this year The new system…

Oil and Development: Can Oil Revenues Transform the Poor Economies of Africa’s New and Old Producers?

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Critics point out that ordinary people have not benefited from oil and gas exploitation in many African states. Billions of dollars in revenue have had little positive impact…

Nigeria Sets Special Fund Worth $100 million to Revamp its Oil Price hit Sector

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Nigeria’s government has launched a special fund worth US$100 million to take care of securing the credit that the oil industry of the country needs. Called a Nigerian…

Watchdog: Nigeria Lost $5.9 Billion from Oil in 2013 due to Theft, vandalism and Irresponsible Gov’t Dealings

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Africa’s largest Oil producer Nigeria lost over $5.9 billion in oil theft and vandalism of major installation and irresponsible secret government dealings, Nigeria Extractive Industries Transparency Initiative said….

Price Slump opening way for Private Equity firms to Enter Oil industry—Ernst and Young Report

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A recent report by Business Consultants Ernst and Young indicate that Private equity (PE) firms are preparing to invest in global oil and gas sector despite the recent slump…

Tanzania Estimates 8% Stake in Uganda Oil Refinery Would Cost $150.4 Million and is Ready to Invest

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Tanzania has confirmed it is looking to owning about 8 percent stake or more in Uganda’s proposed 60,000 barrels per day refinery project. On addition to the Crude…

Will Brexit Cause a destructive Impact on Uganda’s Oil market Future?

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By Irene Ngabirano… On June 23, the United Kingdom (UK) voted to leave the European Union (EU) in a non-binding advisory referendum, which resulted in the resignation of…