Oil, gas, mining and logging companies incorporated or listed in the United Kingdom will, starting in 2016, publicly disclose all payments they make to governments of countries in which they work following the passing into law of the European Union Accounting Directive by the British Parliament yesterday. Read More
Crude oil prices sunk to a new $72-a-barrel low on Friday following a controversial decision by the Organisation of Petroleum Exporting Countries (OPEC) to maintain current production in a bid to undermine production from the United States-a non-OPEC member whose shale oil has been flooding the market. Read More
A series of crises in EITI countries like Ethiopia, Niger and Azerbaijan has triggered doubts about whether the scheme is really helping citizens groups there hold their governments to account.
Media reports coming out of Ethiopia indicate that Tullow Oil has decided to cut its losses and abandon its costly drilling campaign in the South Omo basin after its fourth well yielded disappointing results. Read More
Ghanaian motorists and other fuel consumers will, starting this week, spend more on petroleum following a weekend announcement that government had resolved to abolish fuel subsidies in order to reduce its budget deficit. Read More
The East African partner states issued a bid for the planned regional crude oil pipeline this week, amidst reports that more oil has been found in the South Lokichar Basin, North of Kenya. Read More
The governments of Uganda, Kenya and South Sudan have agreed to procure one lead consultant to carry out preliminary designs for the construction of an oil pipeline to transport crude from Hoima via Lokichar to Lamu port, a Kenyan ministry official has revealed. Read More
Rwanda will soon start producing electricity from its vast reserves of methane gas beneath Lake Kivu as the small East African nation seeks to double its electricity generation in a few years to come. Read More