Forte Oil (Nigeria) Pivots Away From Upstream and Power Amid Rising Uncertainties By Onome Ohwovoriole Last week, Forte Oil informed the investing public of its decision to sell off its upstream and Ghanaian units, as well as its stake in the Geregu power plant. The company attributed its decision to a need to focus on…
‘Realistic Threat’ NDA Will Carry Out More Major Attacks by Andreas Exarheas There is a ‘realistic threat’ that the Niger Delta Avengers will carry out more major attacks on infrastructure, says Verisk Maplecroft’s Ben Payton. There is a “realistic threat” that the Niger Delta Avengers (NDA) will carry out more major attacks on…
Oil Is Booming Again, So Is OPEC Power The slump that characterized the oil market between the middle of 2014 and the middle of 2016 has been replaced by what looks like the beginning of a boom. LONDON, April 24 (Reuters) – The slump that characterised the oil market between the middle of 2014 and…
China’s Staggering Demand for Commodities JEFF DESJARDINS China’s Staggering Demand for Commodities >50% OF ALL STEEL, CEMENT, NICKEL, AND COPPER GOES THERE The Chart of the Week is a weekly Visual Capitalist feature on Fridays. It’s said that in China, a new skyscraper is built every five days. China is building often, and they are building…
How China Became the World’s No. 1 Economy in Four Decades by Peter Wong Its impressive achievements are thanks to perseverance and the far-reaching economic and societal changes that have been introduced since 1978. Within our lifetimes, China has transformed from an agrarian economy to a world-beating digital and consumption-led powerhouse, driven by smartphone-wallet…
South Sudan’s Kiir under siege over civil war, economic flop South Sudan President Salva Kiir is a man under siege as the country’s economy teeters on the brink of collapse while civil war rages. In Summary On the domestic front, he is facing defiance from some of his ministers and military personnel, forcing him…
Listen Up, Miners: Africa Wants Bigger Slice of Commodities Boom, Now! One by one, the biggest names in African mining are getting squeezed. The tactics might be blunt, but the message is clear: the countries where they operate want a bigger share of the proceeds. The collapse in commodities through 2015 hobbled some of Africa’s biggest resource economies,…
Why Saudi Aramco International Listing Might Not Happen – Sources Saudi Arabia is increasingly looking to just float oil giant Saudi Aramco locally; but Reuters (16 March 2018) reports that plans for an initial public offering (IPO) on an international exchange, such as London or New York hang in the balance. This speculation is based on sources…
How Nigeria’s Oil Industry Went Local The Unintended Benefits of Graft By Matt Mossman The biggest real-estate foreclosure in Manhattan’s history began with a Nigerian jet-fuel binge. Kola Aluko, now in hiding from the authorities of multiple countries, allegedly spent so much money on jet fuel that he could no longer pay the mortgage on his Midtown penthouse,…
Africa Oil Corp Buys 25.2 Percent Equity Interest in Impact Oil and Gas Ltd. Canadian oil and gas company Africa Oil Corp (TSE: AOI) has completed the previously announced investment in Impact Oil and Gas Limited, a private UK company with exploration assets in South and West Africa. Impact Oil and Gas Limited operates as…