International
Oil prices rise for first time in three days, but trade war drags
Oil prices climbed for the first time in three days on Wednesday, but rising supply and fears over the outlook for demand amid the U.S.-China trade war kept pressure on the market. Brent crude futures had gained 49 cents, or 0.7 percent, to $76.40 a barrel by 0619...
$200m Halliburton bribe fines paid directly into CBN — Lawyers
16 February 2016, Lagos – The over $200 million fines paid by five multinational firms which were implicated in the Halliburton bribery scandal, were paid directly into the Central Bank of Nigeria and not into the accounts of the Nigerian lawyers, who prosecuted the...
International firms behind cylinder circulation program – LPG operators allege
The Ghana LPG Operators Association has alleged that some giant multinational companies are behind the government’s implementation of the Cylinder Re-circulation Model of Liquefied Petroleum Gas (LPG) distribution. The Association has consistently maintained that the...
U.S. on verge of lifting 40-year oil export ban
17 December 2015, Washington – The United States appears on the brink of ending a four-decade ban on most exports of crude oil, which would end a years-long fight brought about by a boom in domestic shale output that contributed to a supply glut and depressed prices....
Shell Nigeria deal probed in Italy
Italian prosecutors are investigating Royal Dutch Shell as part of a probe into the acquisition of a Nigerian oil field, the firm has said. The oil giant said it was cooperating with the authorities. The probe is connected to the 2011 $1.3bn purchase of Nigeria's...
Tullow To Add 80,000 bpd To Global Production In Ghana
Irish explorer Tullow Oil says that when it launches production this summer at its Tweneboa, Enyenra and Ntomme (TEN) fields in Ghana, it will add some 80,000 barrels per day to the country’s oil production at a time when the world is suffering from a supply glut....
Is the OPEC era over?
It has been over a year since the downtrend in oil prices began, making it one of the longest on record. Not only has the flat price of oil declined by close to US$50/bbl, but many of the various spread relationships for both crude and refined products have also...
