President Vladimir Putin is considering selling stakes in some of Russia’s state jewels to foreign buyers to raise cash for an economy brought to its knees by the collapse in oil prices and sanctions related to Ukraine.
Phutuma Nhleko, the MTN chairman who moved back into the hot seat after Sifiso Dabengwa left, hasn’t been able to extract any leniency on the $5.2bn fine. The only relaxation offered by the Nigerian Regulator is on the payment terms.
Africa’s most critical challenge has been brought into stark focus by the Nigerian fuel crisis. The continent’s biggest economy, built largely on vast oil resources, faces a virtual shut-down.
Oil producers group OPEC can ride out a slump in oil prices and keep output unchanged, arguing market weakness did not reflect supply and demand.
French oil firm Total on Thursday inaugurated a major project off Angola with a capacity of 160,000 barrels per day.
The most important OPEC meeting in many years turned into the watershed few had predicted.
Insiders from Angola’s burgeoning oil industry have reacted sceptically to predictions that the rapidly growing nation may be about to overtake Nigeria as Africa’s largest oil producer
Nigeria’s sovereign wealth fund said its investment programme over the next six months, including on infrastructure, will go ahead, even as revenues that provide its capital are hit by falling oil prices
Is WW3 about to begin? Ukrainian president Petro Poroshenko accused Russia of “direct and undisguised aggression” which has changed the balance of the battlefield being the Ukraine. German Chancellor Angela Merkel stressed that Russia’s behaviour was not an option. On the other hand Russian president Vladimir Putin has stated that there is no evidence of … Read more
MAIDUGURI Nigeria (Reuters) – More than 15,000 people have fled an area around the northeast Nigerian town of Damboa after a spate of lethal assaults by Islamist Boko Haram fighters during the weekend, the emergency services said on Monday. Suspected Islamists raided Damboa on Friday and Saturday, shooting dead more than 40 residents and burning … Read more