Roundtable Discussion

Scramble for African Oil Tests Beijing’s Resolve to Stay Clean

November 28, 2017 | Roundtable Discussion

Translated by Alan Lee | – The people of Hong Kong were shocked when news came out last week that former home affairs secretary Patrick Ho Chi-ping, along with the former foreign secretary of Senegal Cheikh Gadio, was arrested by US authorities for allegedly having bribed the president of Chad and the foreign minister of Uganda to gain exclusive oil drilling rights on behalf of a Chinese energy company. The US Department of Justice didn’t mention the name of the company in question; all it …

Africa’s Richest Man: Oil Is Not The Way Forward

October 05, 2017 | Roundtable Discussion

By Slav Irina |  – The richest man in Africa says crude oil prices would do Nigeria a favour if they stay lower for longer. Last week at the UN General Assembly, Nigerian billionaire Aliko Dangote, whose main business is in cement but also holds interests in agricultural commodities and petrochemicals, said that agriculture—not crude oil—is the way forward for Nigeria, and that Africa “will become the food basket of the world.” The latest economic data from Dangote’s home country tend to support his view. GDP grew …

Geologists, Insurgency, and the Way Forward

August 15, 2017 | Roundtable Discussion

By Fatima Ibrahim Maikore | – The recent abduction and murder of some geologists and engineers of the University of Maiduguri have again highlighted the perils facing professionals who work quietly in the background but whose occupational outcome is part of what is responsible for the prosperity of our nation. On the fateful day of Tuesday, July 25, 2017 the NNPC/University of Maiduguri Exploration team and a detachment of Nigerian Army and Civilian JTFs were attacked by some insurgents, while in the line of duty. …

A Common Cause for Sustainable Growth and Stability in Central Africa

August 01, 2017 | Roundtable Discussion

By Abebe Aemro Selassie | – Six countries in central Africa have been hit hard by the collapse in commodity prices. Oil prices dropped, economic growth stalled, public debt rose, and foreign exchange reserves declined. A delayed response from policymakers, and a regional conflict have worsened the situation further for people in the region. The countries of the Central African Economic and Monetary Community are Gabon, Cameroon, Chad, the Central African Republic, the Republic of Congo, and Equatorial Guinea. They share a common currency—the CFA franc—that is pegged to the euro, and have …

How Not to Incite Oil Communities in Nigeria

April 13, 2017 | Roundtable Discussion

By Egufe Yafugborhi | – Nigeria’s Vice President Yemi Osibanjo, who, like the Minister of State for Petroleum, Ibe Kachikwu, is fond of telling people what they want to hear, declared in passing that oil companies should relocate to producing environment in the Niger Delta. Flamboyantly academic and articulate, Osibanjo flatters Niger Deltans with such promissory note and it turned instant opium that incited a legion of Niger Delta activists (jobbers or genuine), groups, communities, self-imposed leaders and crusaders into harping on “oil firms must …

Why Collaboration Could Help The Niger Delta Overcome Its Difficulties

March 30, 2017 | Field Case Studies, Roundtable Discussion

By Adrian Gonzalez  – Nigeria is a country that has amassed major oil wealth, but also suffers from extreme poverty. The Niger Delta, the country’s main oil producing region is one of the areas experiencing chronic underdevelopment and environmental degradation. Nigeria is Africa’s biggest oil exporter and suffers from what’s known as the natural resource curse – a broad term that describes how resource rich countries tend to experience less economic growth. Countries rich in resources like oil are also fertile territory for corruption. Increased national corruption in turn leads to poor development. This is certainly true …

IEA: Oil Production Rising, Demand Slowing in 2017

March 17, 2017 | Roundtable Discussion

By Neftegaz | – The growing consensus that the OPEC oil cutback initiative isn’t working has been met by OPEC members insisting that their efforts combined with rising demand will result in a market rebalance – but a new forecast from the International Energy Agency on March 16, 2017, says demand is in fact slowing. An IEA report predicted that global demand growth for oil will drop from 1.6 million barrels per day (bpd) in 2016 to 1.4 million bpd this year, due to a …

World Bank Warns Libya Faces Economic Collapse

October 20, 2016 | Roundtable Discussion

By Wesley Dockery | – A recent World Bank report has claimed the Libyan economy is “near collapse” due to inflation and lack of oil production. What are Libya’s economic challenges and do Western countries harbour any responsibility to help? The report, titled “Libya’s Economic Outlook – October 2016” suggested that Libya’s lack of exploitation of its main resource, oil, is partially to blame for the country’s economic problems. Libya also faces inflation and trade deficit issues, as well as political instability due to the …