Africa
Nigeria: Petrol Subsidy Eroding Revenues Available to Fund Budget – Buhari
For the first time since the inception of his government in 2015, President Muhammadu Buhari yesterday acknowledged how much petroleum subsidy had eroded national revenues, making it impossible for the country to adequately fund its annual budget, despite significant...
Ghana: U.S.$ 350 Million Paid Into Petroleum Holding Fund – PIAC
A total petroleum receipt of $350 million has been paid into the country's Petroleum Holding Fund (PHF) for the first half of 2021 compared with US$322.5 million for the same period in 2020. This represents an increase of 8.6 per cent in petroleum revenues accrued to...
Kenya Takes Leap of Faith in Renewable Power
As the world faces a climate emergency of unprecedented proportions, and with global greenhouse gas emissions (GHGs) falling nowhere near fast enough to avoid massive harm from global warming, there has been a rallying call for countries to do everything in their...
Tanzania-Uganda Pipeline Agreement ‘A Boon for All’
Tanzania and Uganda's private sector partners have agreed on four issues that need addressing if local businesses in the two countries are to benefit from the $3.5 billion East African Crude Oil Pipeline (Eacop) from Hoima in Uganda to the port city of Tanga. In a...
Ghana: ‘Don’t Rely Solely On Petroleum Revenue to Fund Free Shs’
The government has been advised to initiate strategies to generate additional money to implement the free Senior High School (SHS), and not to exclusively rely on petroleum revenue in funding the programme. Civil society groups, chiefs, workers, religious leaders and...
Ghana: Tullow Oil Records Profit After Tax of U.S.$ 96 M in Half Year
Tullow Oil, a multinational oil and gas exploration company, recorded a profit after tax of $96 million in the first half of this year. The feat is deemed an indication of strong performance as the company posted a loss of $1.3 billion in the same period last year....
Uganda: Govt Is Delicately Balancing Environment and Oil Activities
In the recent past, a host of countries, especially those from the West to achieving "net zero" in a few decades. In pursuit of this, huge cutbacks in the fossil fuels industry are expected to be undertaken with a target of replacing them with new green technologies...
Nigeria: Evaluating NNPC’s Declaration of N287.2bn Profit
Nigeria's state-run oil company, Nigerian National Petroleum Corporation (NNPC) reported a group profit after tax of N287.2 billion in the financial year ended December 2020. According to the audited report released recently by the corporation, it earned less revenue...
Ghana bags over $6.5 billion in oil revenue in 10 years
The Public Interest and Accountability Committee's Report on Oil Revenue shows that Ghana has bagged over $6.5 billion over the last ten years of mining the "black gold". Out of the $6.550 billion received from 2011 to 2020, the Ghana National Petroleum Corporation...
Africa: Era of Leaded Petrol Over, Eliminating a Major Threat to Human and Planetary Health
The official end of the use of leaded petrol will prevent more than 1.2 million premature deaths and save USD 2.45 trillion a year The end of leaded petrol follows a 19-year campaign led by the UN Environment Programme (UNEP) and partners UNEP urges countries to work...
