Latest Featured Articles

OPEC Versus U.S. Shale: What’s Next for Oil Prices?

May 19, 2017 | Latest Featured Articles

By  Erik Norland | – Saudi Arabia, the top exporter among oil producers grouped under the Organization of Petroleum Exporting Countries (OPEC), and Russia announced on May 15 that they favoured extending production cuts for an additional nine months into 2018, rallying oil prices. The celebrations, however, might be short-lived. As we have pointed out on several occasions, fracking technology has made the United States a major swing producer in energy markets, diminishing the influence of Saudi Arabia and other OPEC members. OPEC members will …

Trump’s Isolationism: Threats and Opportunities for Africa

November 11, 2016 | Latest Featured Articles

By Patrick Bond | – What does a Trump victory mean for Africa? The most catastrophic long-term consequence is climate change. This is because Trump is a denialist. He will give the green light to widespread fracking, coal and oil exploration. Africa will be the most adversely affected continent. United Nations scientists estimate that nine out of 10 small-scale farmers are unlikely to farm by 2100 because of drying soils. Global warming plus extreme weather will also cause 180 million unnecessary African deaths by then, according to Christian Aid. Under Trump, …

Petrol Price hikes and Poverty of the Proposed Strikes by Trade Unions

May 12, 2016 | Latest Featured Articles

By Omano Edigheji | – The Nigerian Labour Congress (NLC) has lost its relevance. For almost twenty years now, it has been more reactive than proactive. It has not been able to develop a comprehensive development agenda that represents the interests of workers and the poor that could form a basis to engage with government. Such a broad development agenda should have clearly set out the short term sacrifices workers will make for their long term benefits and overall development of the country. Alas, it has …

Why aren’t oil companies apologising for the oil spills in Nigeria?

December 05, 2015 | Latest Featured Articles

By Burhan Razi | – The current world economy is structured in such a way that the fossil fuel industry has unquestionable hegemonic power. Developed and developing economies alike need energy to sustain and grow. This energy market is monopolised by the fossil fuel industry. Oil, natural gas and other energy producing fossil fuels have not only helped build some of the biggest companies in the world, but have also aided the development and solidification of certain national economies like the Gulf states and Venezuela. This monopoly in the …

UK’s Under-Pressure Oil Industry Braces for Election

May 07, 2015 | Latest Featured Articles

By Nick Coleman | – The May 7 election retains some familiar features, including business backing for the Conservative Party. BP CEO Bob Dudley and his counterpart at independent Tullow Oil, Aidan Heavey, were among UK business chiefs who signed a letter last month saying the outgoing Conservative-led coalition had been “good for business” and “supported investment and job creation.” Changing course would send a “negative message” about the UK, they said. Prime Minister David Cameron’s opposite number in the Labour Party, Ed Miliband, has …

Corruption, Foreign Investment, Corporate Responsibility and SSA: the Case of Angola

October 29, 2014 | Latest Featured Articles

By Justin McCarthy | – On the 5th of August, the US Securities and Exchange Commission (SEC) issued US oil company, Cobalt International Energy Inc., with a Wells Notice in response to its operations in Angola. The Wells notice was a formal notification to Cobalt stating that the company is likely to face disciplinary action for breaches of ‘certain federal security laws’, namely the Foreign Corrupt Practices Act (FCPA). Though allegations of corruption and illicit government dealings with foreign corporations in Angola are hardly a new phenomenon, …

Troubles continue in Libya as clashes threaten oil production

September 22, 2014 | Latest Featured Articles

By Ken Hanly  | – Libya’s troubles are increasing as conflict has taken place in the south west of the country and clashes have shut down the El Shalala oil field that supplies the Zawiya refinery that in turn supplies the capital Tripoli with gasoline. Libya faces a political crisis with the elected government meeting in the far eastern city of Tobruk near the border with Egypt. Many of the legislators stay on a Greek ferry anchored in the harbour. However, the internationally recognized government elected last …

Congo: Africa’s oldest Park under violent attack by UK Oil Company

September 10, 2014 | Latest Featured Articles

By Gregory McGann | – UK oil company Soco is waging a war of violence and intimidation against those opposing its plans to drill for oil in Virunga national park, writes Gregory McCann. It has paid genocidal armed rebels, encouraged attacks on park rangers, financed phoney demonstrations, and is linked to the attempted murder of head ranger Emmanuel de Merode. Virunga National Park in the Democratic Republic of the Congo is a world heritage site and contains some 220 critically endangered mountain gorillas – a …