Posts Tagged ‘Africa’

The Oil Big Five: Unleash the Kalavrvta!

It can often feel as though many of the big issues or trends in the oil industry are happening on a level unseen by the general public. July, though, brought some big news stories straight to the mainstream media and a wider audience, and these were developments our oil editors and analysts at Platts were watching closely.

Welcome to the latest iteration of The Oil Big Five, when we ask our Platts oil insiders what they believe are the biggest trends or issues in the global oil industry. These are topics we spent a lot of time researching, writing about and analyzing in July, as well as issues we’re keeping an eye on for August.

Read the rest of this entry »

East Africa must avoid LNG delays to compete with rivals

Mozambique and Tanzania are locked in a race to be first to export gas from East Africa, so much so that the region may emerge as a strong competitor to Qatar and Australia in the battle to capture key export markets in Asia.

Geographically, East Africa is ideally placed to supply LNG to Japan, China, India and South-East Asia all of whom rely heavily on LNG imports.

LNG from East Africa should be cheaper than from Australia but such an advantage may be wiped out if Mozambique and Tanzania are unable to develop their potential before a glut of other new supplies depress prices.

Read the rest of this entry »

The Oil Big Five: Your comments include Iraq, Africa, refining, and OPEC

You’ve read about the big topics our Platts experts think are most interesting for July, and now we want to turn our attention to our readers.

In our monthly The Oil Big Five feature, we poll our global oil experts for what they consider the most pressing or interesting aspects of the oil industry at the moment. We follow each post by rounding up some of the comments, and below you can see (in no particular order) some of the reactions we had from our readers, both on the blog as well as on social media.

Read the rest of this entry »

The Oil Big Five: Is anyone surprised that Iraq tops our list?

Welcome to The Oil Big Five for July 2014, where we list the big issues that are keeping our Platts oil experts busy around the globe. You can find our last posting here, which had the problem of not posting comments for a short time when it first went up. We really appreciate everyone who commented on the blog once it was fixed, though, as well as those who sent us feedback on Twitter. The latest round-up of reader comments can be found here, and be sure to comment again for the follow-up to this post.

Here are the biggest oil issues or trends that our editors and experts nominated to be a part of the post this month. Read the rest of this entry »

Nigeria central bank head ousted; missing oil money an issue

President Goodluck Jonathan Thursday sacked the central bank governor Lamido Sanusi, a move critics say is a warning to whistleblowers in the run-up to presidential elections in Africa’s biggest oil producer.

Jonathan accused Lamido Sanusi of “financial recklessness and misconduct” and suspended him four months before his term was to end in June.

Sanusi had recently told a senate committee that out of $67 billion of oil sold between January 2012 and July 2013, $20 billion had not been accounted for by the state-owned NNPC.

Read the rest of this entry »

Oil-rich South Sudan teeters on the brink

South Sudan this week saw heavy fighting with as many as 500 killed or wounded, as army factions clashed in the capital following months of political tension in the oil-rich nation after the president dismissed his deputy.

President Salva Kiir, clad in military fatigues rather than his signature cowboy hat and trademark black suit, said the army had foiled a coup attempt by a group of soldiers loyal to the former vice president, Riek Machar.

Kiir and Machar were key figures in the ranks of the rebel South Sudan People’s Liberation Movement, which fought a 21-year civil war against the Sudanese government in Khartoum.

But since his dismissal in July, Machar has been leading a faction against Kiir’s ruling party, and has also announced he will run for presidency in the 2015 elections.

Read the rest of this entry »

Nigeria: Drums of war again in the oil region of the Niger Delta

Fresh tension is now brewing in southern Nigeria following a spate of threats by the MEND militant group, amid fears the fighters have returned to the mangrove-choked creeks of the oil-rich Niger Delta.

After a period of relative calm, spiked only by sporadic incidents, the group on Tuesday claimed responsibility for the explosion that rocked the Warri oil refinery. It said the attack was part of a new campaign against the federal government’s “unsustainable and fraudulent” amnesty program.

It comes days after the group threatened Shell’s giant offshore Bonga field. “Offshore operations are not a safe haven. MEND has visited Bonga before and we will do it again when the time is right,” it said.

Read the rest of this entry »

Africa’s energy kingmakers ponder this question: to refine its oil, or not to refine?

The news that Africa’s richest man is to finance the construction of a new refinery in Nigeria comes as Africa’s energy decision makers grapple with the conundrum: to refine, or not to refine. Read the rest of this entry »

Kenya, with good oil prospects, faces tightly contested election as vote counting continues

The elections in Kenya this week brought millions of voters despite pockets of violence that killed at least 15 people and rumblings of problems with electronic systems being used in the polls for the first time.

Uhuru Kenyatta, the son of the nation’s founding father, took an early lead Wednesday and nearly half of the votes over his main rival, Prime Minister Raila Odinga.

Read the rest of this entry »

What happens in Mali does not stay in Mali

I receive more than a fair share of e-mails every week from scam artists, most of them purporting to be from some African state, offering me millions of dollars in return for my bank details. (Memo to techies: spam filters not working).

The last such communication came as a bit of a surprise. It was from Mali, a country that is a blind spot for much of the world focused on turmoil in more recognizable countries like Egypt and Syria. Until recently that is, when this West African state leapt into the headlines.

Read the rest of this entry »