<figure><img decoding="async" src="https://images.theconversation.com/files/240415/original/file-20181012-119144-mkc6vv.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="File 20181012 119144 mkc6vv.jpg?ixlib=rb 1.1" /><figcaption>Kenya is ill-prepared for the environmental, health and safety impacts that accompany oil production. 
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<a href="https://theconversation.com/profiles/melba-k-wasunna-441896">By Melba K. Wasunna</a>, <a href="http://theconversation.com/institutions/strathmore-university-2081">Strathmore University</a>
After decades of failed attempts, Kenya finally <a href="https://www.aljazeera.com/news/africa/2012/03/2012326174456726672.html">struck oil six years ago</a>. <a href="https://nationaloil.co.ke/pdf/NOCK_Newsletter.pdf">Commercially viable</a> reserves were discovered in Turkana – the northwest of the country– by British oil company, Tullow Oil. The basin is estimated to contain about <a href="https://www.tullowoil.com/operations/east-africa/kenya">560 million barrels of oil</a>.
While commercial production is a few years away, there’s <a href="http://extractives-baraza.com/assets/content/PDF/epwg/EHS-Discussion-Paper-Policy-Dialogues.pdf">growing</a> concern that Kenya isn’t ready for the environmental, health and safety risks that accompany oil production.
A <a href="http://extractives-baraza.com/assets/content/PDF/epwg/EHS-Discussion-Paper-Policy-Dialogues.pdf">recent forum</a> involving key stakeholders – community, civil society organisations and the Ministry of Health – outlined some of these concerns. These 
include that; workers aren’t well protected, waste isn’t being well disposed of and water sources could be <a href="https://www.linkedin.com/pulse/water-quality-quantity-versus-turkana-oil-production-daniel-lagat/">contaminated</a>. Other problems identified included the fact that those regulating these issues don’t have clear mandates and that policies and standards that deal with managing risks don’t exist or aren’t clear.
Kenya has several state agencies that try to regulate the industry. This means that there’s an uncoordinated approach and a great deal of uncertainty. A framework is needed that speaks specifically to environment, health and safety for the oil sector. It must have a clear division of roles and responsibilities, ensuring the sector is efficient, and encouraging investment.
<h2>Oil spills and pollution</h2>
A key concern for communities in the Turkana area is how waste and pollution will be managed. This includes; the disposal of drill cuttings, reduced air quality due to flaring of gas and negative impacts on human and animal health.
There’s also concern over the technology used to handle hazardous waste as it doesn’t meet the standards of those in other countries. For instance, <a href="http://extractives-baraza.com/assets/content/PDF/Publications:%20Government/Final%20SESA%20Report%20March%202017.pdf">most</a> waste oil treatment facilities don’t meet international standards and are run by the informal sector.
Trying to deal with these risks is challenging and there are significant gaps in policies and laws.
For example, there’s a general <a href="http://kenyalaw.org/kl/fileadmin/pdfdownloads/bills/2017/Petroleum_Exploration_DevelopmentandProductionBill_2017.pdf">requirement</a> that contractors be prepared in case of an emergency – like a fire. But there’s no direction of who is responsible for what and the procedures that must be followed. Kenya’s National oil Spill Contingency Plan is meant to make this clearer, but it has been in draft form for over four years.
There also needs to be clarity on who is responsible for damage incurred as a result of oil spills or other pollution. Currently the <a href="https://kma.go.ke/index.php/marine-environment/oil-spill-response">Kenya Maritime Authority</a> is responsible for coordinating this, but they are a maritime agency – authority should rest with the National Environment Management Authority.
<h2>Worker safety</h2>
There also need to be more policies that protect the health and safety of workers. An <a href="http://www.kenyalaw.org/klr/fileadmin/pdfdownloads/Acts/OccupationalSafetyandHealth(No.15of2007).pdf">occupational safety and health act</a> in on the statute books. But there are no policy guidelines that look at how health and safety is monitored. These are needed to govern the industry’s hazardous work operations like; rigging safety, flaring of gas, drilling or chemicals handling.
Policies should be created by the Ministry of Petroleum and Mining in collaboration with the other relevant ministries – like environment and health.
Other policies that need to be reviewed include those related to reducing the risk of fires – <a href="http://kenyalaw.org/lex/sublegview.xql?subleg=No.%2015%20of%202007#KE/LEG/EN/AR/O/NO.%2015%20OF%202007/SUBLEG/HC_17">current legislation</a> only deals with small workplace fires – and those related to first aid.
Regulations must also be drawn up to cover community health and safety. These don’t exist yet the impact of oil and gas operations goes beyond the workplace.
Finally, there are <a href="http://extractives-baraza.com/assets/content/PDF/Publications:%20Government/Final%20SESA%20Report%20March%202017.pdf">not enough</a> health facilities and emergency service providers should accidents occur.
<h2>Regulation issues</h2>
Three key bodies are meant to regulate environment, health and safety issues in the sector. These are the <a href="https://www.erc.go.ke/">Energy and Regulatory Commission</a>; the <a href="http://www.labour.go.ke/directorate-of-occupational-safety-and-health-services-doshs/">Directorate of Safety and Health Services</a> and the <a href="https://www.nema.go.ke/">National Environmental Management Authority</a>. But their activities aren’t coordinated. This means that companies aren’t being held to proper enforcement and compliance regulations.
Regulations can also clash. For instance, the <a href="http://www.kenyalaw.org/klr/fileadmin/pdfdownloads/Acts/OccupationalSafetyandHealth(No.15of2007).pdf">occupational safety and health laws</a> require workplaces that use or produce toxic substances to <a href="http://extractives-baraza.com/assets/content/PDF/Publications:%20Government/Final%20SESA%20Report%20March%202017.pdf">ensure</a> they’re safely collected, recycled or disposed of. But there isn’t currently a body that can actually process waste coming from the oil and gas sector. The closest facility is in <a href="http://www.oilinuganda.org/features/environment/uganda-gets-its-first-oil-waste-treatment-plant.html">Uganda</a>.
<h2>Developing policy</h2>
There are attempts to improve on policy. Kenya’s occupational safety and health act, for example, is <a href="http://documents.worldbank.org/curated/en/862581530195474639/pdf/Plan-Archive-14.pdf">under review</a>. But it’s not easy.
Developing policies, and ensuring they’re adhered to, is a major challenge as government regulatory bodies lack skills and manpower. The Directorate of Safety and Health Services, for instance, <a href="https://www.ilo.org/wcmsp5/groups/public/@ed_protect/@protrav/@safework/documents/policy/wcms_187632.pdf">has</a> 71 professional officers to inspect about 140,000 workplaces. This is a huge challenge for inspectors working in the remote areas where oil exploration is taking place. They <a href="http://extractives-baraza.com/assets/content/PDF/Publications:%20Government/Final%20SESA%20Report%20March%202017.pdf">can take</a> one to two years before they visit, leaving most workers exposed to hazards.
The goods news is that steps are being taken. the <a href="http://documents.worldbank.org/curated/en/862581530195474639/pdf/Plan-Archive-14.pdf">environmental and occupational health and safety</a> policies are under review by two different set of consultants to establish more robust policies and guidelines.
Legally, efforts are also being taken to coordinate an approach. The <a href="http://kenyalaw.org/kl/fileadmin/pdfdownloads/bills/2017/Petroleum_Exploration_DevelopmentandProductionBill_2017.pdf">new bill is</a> being considered by the Senate. Among other things it proposes a new Energy and Petroleum Regulatory Authority.
Over the last three years, a technical assistance project has also <a href="http://documents.worldbank.org/curated/en/531591529359535996/pdf/Disclosable-Version-of-the-ISR-Kenya-Petroleum-Technical-Assistance-Project-KEPTAP-P145234-Sequence-No-07.pdf">trained</a> 220 government officers in lead agencies responsible for enforcement of environment, health and safety regulations.
These developments are all encouraging. But it’s important that policymakers don’t adopt a one-size-fits-all approach but rather develop methods that adequately address the specific needs and priorities of the oil industry and the risks it brings.
Laura Muniafu, of Strathmore University’s Extractives Baraza, assisted in the writing of this article<img loading="lazy" decoding="async" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;" src="https://counter.theconversation.com/content/103845/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" />
<a href="https://theconversation.com/profiles/melba-k-wasunna-441896">Melba K. Wasunna</a>, Director and Lecturer, Extractives Baraza, <a href="http://theconversation.com/institutions/strathmore-university-2081">Strathmore University</a>
This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/what-kenya-needs-to-do-to-better-protect-those-working-in-the-oil-sector-103845">original article</a>.

Is Kenya doing enough to protect workers in the oil sector ?

<h6>By <a href="https://theconversation.com/profiles/melba-k-wasunna-441896" rel="author">Melba K. Wasunna</a>, <a href="http://theconversation.com/institutions/strathmore-university-2081">Strathmore University </a></h6>
&nbsp;
Six years ago, Kenya <a href="https://theconversation.com/oil-discoveries-in-turkana-six-years-ago-havent-delivered-benefits-for-women-100101">discovered</a> commercially viable oil deposits in the Turkana region. The find is <a href="http://www.coastweek.com/3628-latest-news-kenya-oil-finds-improve-economy.htm">expected</a> to boost economic growth as about <a href="https://www.tullowoil.com/operations/east-africa/kenya">560 million barrels</a> of oil are expected to be recovered from the South Lokichar Basin. Commercial oil production <a href="https://www.tullowoil.com/operations/east-africa/kenya">is expected</a> in about three to four years.
But not all Kenyans are happy. Earlier this year, as road transfers of oil to Mombasa <a href="https://www.tullowoil.com/operations/east-africa/kenya">started</a> under the ‘early oil pilot scheme’, the operations faced <a href="https://www.the-star.co.ke/news/2018/06/27/no-oil-will-leave-turkana-without-security-and-jobs-protesters-say_c1778927">opposition</a> from local communities in Turkana. As a historically underdeveloped part of Kenya, the find was <a href="https://www.standardmedia.co.ke/business/article/2001234391/lokichar-oil-a-blessing-or-curse-for-turkana">expected</a> to bring great benefits to the Turkana people. But they have largely been excluded and are demanding jobs, business opportunities, security and a share of oil proceeds.
Some Kenyans and businesses <a href="https://theconversation.com/oil-discoveries-in-turkana-six-years-ago-havent-delivered-benefits-for-women-100101">have</a> gained employment or business contracts, but it’s not enough. British oil exploration company, Tullow Oil, the first to discover oil in Kenya, has <a href="https://www.tullowoil.com/operations/east-africa/kenya">a history</a> of discovering significant oil resources in East Africa. By the end of 2017, 30% of the company’s supplier spend was with <a href="https://www.tullowoil.com/Media/docs/default-source/3_investors/tullow-oil-plc-2017-annual-report.pdf?sfvrsn=2">Kenyan businesses</a>, down from 33% in 2016. The bulk goes to foreign companies. Though Tullow Oil does work with some Kenyan firms – like Kapese Transporters and Lopii Contractors – the company has <a href="https://www.tullowoil.com/Media/docs/default-source/3_investors/tullow-oil-plc-2017-annual-report.pdf?sfvrsn=2">slowed down</a> on contracting local suppliers.
It is crucial that Kenya figures out how to encourage <a href="https://www.lexology.com/library/detail.aspx?g=87a225c8-cb72-47d2-929c-6c8ab8324383">the participation of Kenyans</a> in the oil sector through the use of local labour, goods and services. This was the topic at a <a href="http://www.extractives-baraza.com/assets/content/PDF/epwg/Kenya-Extractives-Policy-Dialogues-2-Local-Content-Discussion-Paper.pdf">recent forum</a> hosted by the <a href="https://www.extractives-baraza.com/">Extractives Baraza</a> – an information centre for the extractives sector based at Strathmore University – in Nairobi.
Major constraints that prevent Kenyans – particularly communities around the oilfields – from benefiting from the oil sector include: a <a href="https://www.giz.de/de/downloads/E4D_SOGA_Brochure-Web-high_resolution.pdf">lack of</a> specialised training or technical skills, <a href="https://www.extractiveshub.org/servefile/getFile/id/4209">a lack of</a> access to credit which would increase the competitiveness of small-to-medium businesses, low quality of local goods and services and a <a href="https://www.standardmedia.co.ke/article/2000207205/no-road-no-oil-turkana-leaders-threaten">lack of modern roads and highways</a> to link the Turkana region with other parts of the country.
<h2>The challenges</h2>
In terms of human capital, Kenya <a href="http://www3.weforum.org/docs/WEF_Global_Human_Capital_Report_2017.pdf">ranks poorly</a> in the development of future skills (101 out of 130 countries according to the World Economic Forum) and in the use of specialised skills at work (74 of 130).
Tullow Oil <a href="https://www.tullowoil.com/Media/docs/default-source/3_investors/tullow-oil-plc-2017-annual-report.pdf?sfvrsn=2">cited this</a> burgeoning skills gap as the main reason for not including more locals in its workforce. This challenge is most <a href="https://theconversation.com/kenya-has-a-massive-skills-gap-how-it-can-fix-the-problem-91170">severe for technical and vocational skills </a> like welding, drilling, repair of heavy equipment and <a href="https://www.the-star.co.ke/news/2018/05/31/tullow-picks-uk-firm-for-key-oil-pipeline-job_c1765859">pipeline design</a>– all in <a href="http://www.lundinfoundation.org/education-and-skills-training">demand</a> in the oil sector.
But human capital isn’t the only problem. <a href="https://set.odi.org/wp-content/uploads/2016/09/Manufacturing-in-Kenya-Anzetse-Were.pdf">The low quality</a> of locally manufactured or available goods and services, compared to their high costs, has <a href="http://kam.co.ke/sme-development/">allowed</a> imported products to take over a large market share in Kenya. This could be attributed to a <a href="https://www.businessdailyafrica.com/analysis/Why-we-need-local-content-policy-now/539548-2754394-doyou4z/index.html">lack of understanding</a> as to what the oil sector needs in comparison to what is locally available. Local manufacturers also <a href="http://kam.co.ke/sme-development/">use obsolete technology</a> and there’s a low level of innovation.
A final, big challenge is the <a href="https://www.dentons.com/en/insights/alerts/2015/february/24/local-content-in-kenyas-oil-and-gas-industry">lack</a> of a robust legal framework to promote local participation. For instance, the <a href="http://www.kenyalaw.org/lex//actview.xql?actid=CAP.%20308">Petroleum (Exploration and Production) Act 1986</a> includes an obligation for contractors to give preference to locally available goods and services, and that Kenyan nationals be prioritised in employment and training. But the Act doesn’t provide for targets, outlining how much local representation is needed. It also doesn’t provide for monitoring or reporting.
<h2>The way forward</h2>
There needs to be a clear strategy to ensure <a href="http://www.extractives-baraza.com/assets/content/PDF/epwg/Kenya-Extractives-Policy-Dialogues-2-Local-Content-Discussion-Paper.pdf">local participation</a> in the oil sector.
To start with, the entire oil value chain must be assessed to identify which areas need to be focused on. This will reveal the size and capacity of local businesses, the capabilities of the local workforce, level of participation, and supplier landscape.
Skills need to be developed and there must be a requirement for investors to publicly certify that a local expert is not available before importing skills.
Local manufacturers must adopt modern technology and innovative solutions to produce products that align with the quality of goods and services needed in the sector.
Partnerships between the private sector, government (national and county) and academia are critical to bridge the knowledge gap. This will create awareness, ensure that training curricula and facilities are fit-for-purpose, and pool available skills and expertise.
Joint ventures between international companies and local companies are also critical for building links and transferring technology and skills.
Finally, the government must offer legal protection against unfair contractual arrangements, and guarantee recovery of delayed payments for local businesses. It should create a level playing field for local businesses to participate, for instance; by simplifying and fast-tracking business registration processes and ensuring equal access to project information for local businesses. Norway, for example, <a href="http://ella.practicalaction.org/wp-content/uploads/2016/07/20160526-Grupo-Faro-Local-Content-Frameworks-in-Latin-America.pdf">included</a> a requirement for oil companies to split up supply contracts into smaller parts suitable for local companies.
James Ombaki Kirwa, a Legal Researcher at Strathmore Extractives Industry Centre, contributed to this article<img loading="lazy" decoding="async" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;" src="https://counter.theconversation.com/content/103789/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" />
<a href="https://theconversation.com/profiles/melba-k-wasunna-441896">Melba K. Wasunna</a>, Director and Lecturer, Extractives Baraza, <a href="http://theconversation.com/institutions/strathmore-university-2081">Strathmore University</a>
This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/what-kenya-can-do-to-ensure-local-people-benefit-from-its-oil-industry-103789">original article</a>.

What this East African needs to do to ensure oil industry benefits for its citizens

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Ahead of next week&#8217;s meeting by the Joint Technical Committee, Edward Voelcker, Advisor at Brigg Macadam joins CNBC Africa from London to discuss expectations from the meeting and the outlook for oil.

What to expect from 2018 Joint Technical Committee Meeting

By Francois Conradie, Head of Research at NKC African Economics
Workers at Total Gabon, members of the National Organisation of Petroleum Employees (Onep), have issued a statement saying they plan to go on a 15-day strike from Saturday, June 30.
Their demands are unpaid bonuses, a reduction in the number of foreign workers and some reassurances about job security. The statement, which was issued on Monday, June 24, follows an all-hands meeting held on June 19 in Port-Gentil at which union representatives raised some of these issues.
The strike has the potential to disrupt oil production and, if it is extended beyond the planned 15 days, to affect Gabon’s overall economy.
Nor are the Onep workers the only ones planning a strike. Civil servants are deeply unhappy about a press conference held on Monday at which Ike Ngouoni, a spokesman for President Ali Bongo, announced a plan to cut wages for government workers.
Government wants to try to conform to guidelines from the Economic and Monetary Community of Central Africa (Cemac) that the public sector wage bill should equal 35% of government revenues, rather than the 59% that they currently represent in Gabon.
Salaries for workers earning more than CFAFr2m a year are being cut by 15%, another effort is being made to eliminate a ghost worker problem, operating budgets are being cut by between 5% and 15%, and staff numbers are to be slashed in all departments.
Mr Ngouoni said that government intended to save CFAFr70bn a year or more by means of these initiatives. In response, Jean-Remi Yama, chairman of Unitary Dynamic, the biggest trade union in Gabon, threatened “radical action” in response, saying that the government should have started by cutting the number of political appointees. 
Research academics at the University of Science and Technology of Masuku have been on strike since Friday, June 22, demanding payment for overtime worked last year and efforts to address operating issues at the university. They have also indicated their refusal to work any more overtime.
One bit of good news on the same day was the announcement that a four-month strike by court clerks had come to an end, promising some relief for the overstretched prison system.
The trade union movement in Gabon is historically a combative one and strikes are common. However, it has been a while since there was labour action in the crucial petroleum sector. The efforts by Total to solve workers’ problems are important here.
There is also some risk that these demands from unions could begin to overlap with co-ordinated civil society action in response to cost of living concerns, as fuel and inflation prices have been increasing. 
Moreover, while civil servants are upset about potential salary cuts and layoffs, fiscal consolidation is and should continue to be a top priority for the government.
The country has run into substantial domestic and external arrears lately and more control over the wage bill is one of the key areas where the government hopes to optimise fiscal policy.
Spending should be kept in check, especially as uncertainty looms in the hydrocarbons sector due to volatile oil prices and maturing oil fields, which could put pressure on future revenue collection.

How 15-day planned strike by Total Gabon oil workers could impact the country’s economy

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Brent Crude futures were trading at $78.87 cents in the early hours of the day up by 0.5 per cent from the last close. Jubril Kareem, Oil and Gas Analyst at Ecobank joins CNBC Africa to discuss this.

Oil prices rise as China, U.S. put trade war on hold

NAIROBI, April 26 (Reuters) &#8211; Kenya has picked Wood Group Plc to design an estimated $2 billion oil pipeline to pump crude from fields in the north of the East African nation to an Indian Ocean port, a senior government official said on Thursday.
Kenya discovered commercial oil reserves in its Lokichar basin in 2012 and the 800-km (500-mile) pipeline is expected to be built before production is due to start in 2021/22.
Andrew Kamau, the principal secretary at the Petroleum and Mining Ministry, said the design work would take eight months.
The government had invited engineering design bids in January for the pipeline, which is expected to cost $2 billion.
Britain’s Tullow Oil operates the Kenyan fields, while the other investors are Canada’s Africa Oil and France’s Total. Kenyan is expected to take a stake through state-owned National Oil. (Reporting by Duncan Miriri Editing George Obulutsa)

Kenya is one step closer to building its $2bln oil pipeline

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Oil prices dipped earlier today as a rising U.S. rig count implied further increases in output. However analysts say this is only one of the few factors holding back crude prices in an otherwise bullish market.

Oil prices dip on rising US rig count

By Dhuha Fadhel, Senior Economist, Thematic Research, Regional Research- Standard Chartered UAE
For years the Gulf Cooperation Council (GCC) successfully turned their natural resources – oil and gas – into material economic dividends, but how sustainable is this in the face of lower-for-longer oil prices?
GCC countries are now among the world’s 30 richest countries in terms of GDP per capita and fared well compared with emerging markets, developed markets and the world economy throughout 2008-14.
However, the latest episode of falling oil prices that started in mid-2014 saw average growth rates plummet throughout 2015-16, reaching only 0.3 per cent in 2017, based on our estimates.
The lower-for-longer oil prices [USD67 by the end of 2017 compared with an average of USD100 during 2008-14] and subsequent lower growth are creating three big challenges for the GCC.
First, global oil prices have always played a major role in determining growth rates, and consequently income levels, of these economies. For instance, lower oil prices turned current account surpluses into significant deficits in most cases, putting pressure on foreign exchange reserves. Furthermore, fiscal balances turned into deficits, prompting GCC countries to tap international capital markets, leading to increases in government debt.
Second, the dominance of oil and gas has resulted in a phenomenon familiar to commodity-exporting countries. Non-tradable sectors, such as property, tend to flourish (these attract a large share of oil and gas revenue), while tradable sectors, especially manufactured exports, do less well.
There are two key issues with this. First, higher oil prices can fuel asset price bubbles that could pose risk to the overall macroeconomic stability of GCC economies. For example, the high oil prices that prevailed before mid-2014 led to rapidly rising house prices in Abu Dhabi and Dubai, followed by a significant correction as oil prices started to fall from the second half of 2014.
Second, GCC economies are often characterised by stubbornly low productivity, with labour-intensive sectors such as construction and light manufacturing (less dependent on technology and high-skilled labour) taking the lead over more high-value-added sectors, such as finance and high-tech manufacturing. Given the importance of productivity for long-term growth, the GCC’s current low productivity levels may translate into lower growth rates in the medium to longer term.
Outside the distortions caused by overreliance on oil and gas, policy makers face a third pressing issue in the near future: demographics.  An increasing number of young people will enter the labour market in the coming years. Traditionally, GCC nationals seeking employment have favoured the public sector, given it offers higher wages, better job security, shorter working hours and longer holidays than the private sector. However, the public sector has reached saturation point, which means the GCC must find new ways to attract people to other sectors, or develop new sectors to absorb excess labour.
How can GCC countries tackle these challenges? In short, via reform. The question is, what type of reform?
To address their short-term imbalances, the GCC will need to continue with fiscal consolidation while structural reforms are needed to address longer-term issues.
The UAE and Saudi Arabia have led regional fiscal consolidation efforts to increase government revenue with the introduction of consumption taxes (value added tax – VAT) at 5 per cent at the turn of the year.
Other GCC countries appear to be lagging in this area. We believe that the potential revenue from 5 per cent VAT in GCC countries would be below the level needed to close the large fiscal deficits in many cases. Hence, introducing VAT will need to be accompanied by drastic cuts in current expenditure (especially subsidies and social benefits). Energy subsidy reforms introduced in 2015-16 were viewed as a positive step in this direction. However, further reform is likely in the future given that subsidies and social benefits are estimated to be equivalent to 8 per cent of total GCC GDP.
Also, GCC countries will need to implement measures to address deeper structural issues currently preventing them from reaching their long-term growth potential. Such reforms should aim to: improve the efficiency and conduct of fiscal policy; improve the business environment and reduce red tape; upgrade the regulatory system; address labour-market issues; introduce more ambitious industrial policies that aim to integrate GCC economies into the global supply chain; and continue to deepen the financial sector.
On the latter, a key development is the local debt market. This would provide these economies with new sources of financing, reduce pressure on local banks and the need to borrow from abroad at the same time as providing monetary authorities with effective tools to manage liquidity while preserving their currency pegs.
GCC countries, to some extent, provide a good example of how successful a country endowed with natural resources can be. However, the continued reliance on oil and gas both on the fiscal and external fronts has exposed these countries to macroeconomic instability related to the fluctuations in oil markets and, going forward, will continue to bring challenges especially in a lower-for-longer oil price environment.
GCC countries should prioritise reforms to help bring their fiscal and external balances back to more sustainable levels. Efforts targeting fiscal consolidation in the short term should continue alongside long-term structural reforms, to help sustain high growth in the future.

Gulf Cooperation Council: The oil-rich bloc that’s facing a new era

Oil production for Angola, Africa’s No. 2 crude producer, averaged 1.632 million barrels per day in 2017, down from 1.72 million barrels the previous year, the chairman of the state-run oil company Sonangol said on Wednesday.
<div id="attachment_42263" style="width: 2010px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-42263" class="wp-image-42263 size-full" src="http://cnbc.africa/wp-content/uploads/2017/02/angola-wikipedia.png" alt="" width="2000" height="1333" />Photo: Wikipedia</div>
Angola has been grappling with the effects of generally depressed oil prices on its government finances but is constrained from lifting production because it is committed to OPEC-mandated cuts.
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Angola is a member of the Organization of the Petroleum Exporting Countries, and it must limit output in line with OPEC’s commitment to cut output by about 1.2 million barrels per day (bpd) as part of a deal with Russia and others.
Sonagol chairman Carlos Saturnino also told a media briefing that the net profit for Sonangol, which regulates Angola’s oil sector, was $224 million in 2017 versus $81 million the previous year when oil prices were lower.
It was his first briefing since Angola President João Lourenço fired Isabel dos Santos, daughter of his presidential predecessor, from the helm of Sonangol.
Lourenço took power in September and is seeking to win credibility with international investors and shed Angola’s image as an opaque oil economy with rampant corruption.
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Reporting by Stephen Eisenhammer; Writing by Ed Stoddard; Editing by James Macharia
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Angola oil production declines slightly in 2017, profits rise

Glencore and four bank lenders have reached a deal with Chad on the restructuring of an oil-backed loan of more than $1 billion after months of often-fraught negotiations, the two parties said on Wednesday.
<img loading="lazy" decoding="async" class="aligncenter wp-image-17712 size-full" src="http://cnbc.africa/wp-content/uploads/2017/01/glencore_-_telegraph.jpg" alt="Glencore Q1 copper output dips" width="620" height="388" />
Glencore, backed by banks, lent the west African country’s state oil firm SHT (Societe des Hydrocarbures du Tchad) about $1.45 billion in 2014 to be repaid with crude oil cargoes.
The loan was restructured once in 2015 after the crash in global oil prices but the central African country still struggled to meet its own budget needs as the debt ate up nearly all of its oil profits &#8211; Chad’s main source of revenue.
Chad secured credit from the International Monetary Fund in June last year but the release of most of these funds depended on a second restructuring of this debt, which the IMF considered unsustainable. Chad then hired Rothschild &amp; Co as its adviser.
“We are pleased to have reached an agreement with the Government of Chad. Chad is an important partner of Glencore‘s, and we look forward to working closely together across all aspects of our oil business,” said Alex Beard, Glencore’s head of oil.
A spokesman for Chad’s state oil firm said that the new terms included an extension of the maturity to 2030 from 2022, a two-year grace period on principal payments and a lower interest rate of Libor plus 2 percent, down from 7.5 percent.
In addition, the agreement includes a supply guarantee for the country’s refinery near the capital N‘Djamena.
During the negotiations, Glencore and the banks had offered an extension to 2025, a grace period with a lower interest rate of 4 percent for that period.
The IMF criticized the loan last year saying that the process of allocating payments to service the debt were opaque.
Negotiations became tense after the Chadian government threatened to divert oil from the Swiss trading house to U.S. energy company ExxonMobil.
Adding to the complications, Chad’s finance minister and deputy were sacked in November the week after a round of talks.
A finance ministry statement on Wednesday gave President Idriss Deby credit for pushing the deal through.
“The successful conclusion of these difficult negotiations is undeniably down to the diplomatic efforts of the president, who employed all his influence with institutions and friendly nations to have these terms accepted,” it said.
One of the world’s poorest nations, Chad is key in efforts to counter Islamist insurgencies in Africa’s Sahel region and is part of the G5 Sahel joint military force backed by France and the United States.
It has been weighed down by drought, a refugee crisis and a costly military campaign to combat militant group Boko Haram, which took over large swathes of neighboring Nigeria in 2014.
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Additional reporting by Dmitry Zhdannikov in London and Madjiasra Nako in N&#8217;Djamena; editing by David Evans
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Glencore, banks and Chad reach deal on $1 bln-plus oil-backed loan

By Libby George
LONDON, Jan 10 (Reuters) &#8211; Shipments of West African oil to 
China are set to surge to a record in January, boosting overall 
fixtures heading east to their highest in at least 14 years, a 
Reuters survey of shipping fixtures and traders showed on 
Wednesday.
China&#8217;s loadings are expected to jump by more than 20 
percent from December to more than 1.5 million barrels per day 
(bpd) in January, the survey showed. 
The figure is the highest barrel-per-day total to sail for 
China since September, and is some 37 percent above the same 
month last year. 
Traders said China&#8217;s appetite was whetted in part by the 
first batch of government import quotas for 2018, which were 
issued in late December, but announced in November. This 
prompted some companies to book cargoes early in order to arrive 
as quickly as possible. 
Energy Aspects said a large amount of destocking in the 
fourth quarter, which amounted to a total drawdown of some 40-60 
million barrels in China, also prompted strong demand from the 
world&#8217;s second-largest oil consumer. 
&#8220;There&#8217;s certainly a large pull from China,&#8221; said Michal 
Meidan, Asia analyst with Energy Aspects. &#8220;Demand has been good 
and the runs have been high. They need the crude.&#8221;
The bookings helped to propel overall fixtures heading east 
to 2.39 million bpd, a record since Reuters tracking began in 
2004. The previous record was in April 2015 at 2.343 million 
bpd, when India booked more than 1 million bpd. 
Still, there is fierce competition for Chinese and other 
Asian buyers, with U.S. crudes increasingly edging into the 
market, often at the expense of West African grades. 
Supply of Russian ESPO Blend is also increasing this year. 
Already, PetroChina has nearly doubled the amount of Russian 
crude processed at its refinery in Dalian as a new supply 
agreement has come into effect. 
Additionally, Meidan said China&#8217;s meteoric demand growth in 
2017, which Energy Aspects pegged at roughly 800,000-900,000 bpd 
year-on-year, will also slow substantially in 2018, limiting new 
opportunities to sell the nation oil. 
 COUNTRY January BPD December BPD &#8216;000s 
 cargoes &#8216;000s cargoes 
 CHINA 52 1,594 43 1,318 
 INDIA 16 490 17 521 
 INDONESIA 2 61 4 123 
 TAIWAN 2 61 2 61 
 JAPAN 0 0 0 0 
 S. KOREA 0 0 0 0 
 OTHERS 6 184 7 215 
 TOTAL 78 2,390 73 2,237
 (Reporting by Libby George; Editing by Mark Potter)

Shipments of West African oil to China set to surge to a record

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LUANDA, Jan 4 (Reuters) &#8211; It was Angola’s depleting foreign reserves that prompted the central bank to pursue a more flexible exchange rate strategy, the regulator said on Thursday.
The comment came a day after plans were unveiled to restructure foreign debt and allow looser trading of the kwanza.
<div class="DPSlot_container_2dHIN DPSlot_inline_1oeo6">The central bank said on Wednesday it would shift from a currency peg to a trading band, which would keep the kwanza’s value against the U.S. dollar within an as-yet defined range.</div>

The changes will be implemented from this month.
Kaan Nazli, senior economist at investment management firm Neuberger Berman, estimated the new currency plan could result in the kwanza effectively devaluing by 30 percent.
“Of course they won’t call it like a devaluation &#8230; but ultimately it is not too far off what the (International Monetary Fund) has identified as the overvaluation of the exchange rate,” Nazli told Reuters.
Sub-Saharan Africa’s third largest economy also plans to renegotiate its external debt, which stands at $38 billion, Finance Minister Archer Mangueira said on Wednesday.
Angola’s dollar-denominated bond, which has $1.5 billion outstanding and matures in November 2025, fell 0.2 cents in price to 115.80 cents.
Most of Angola’s external debt is held by multinational lenders like the IMF or by foreign governments, including China, which has huge oil-for-infrastructure deals with the southern African nation.
Angola does not have a developed debt or stock market so a more flexible exchange rate is less significant for investors than in more developed markets. Lenders like the IMF have been calling for looser currency controls, however.
“Multilateral lenders will look favourably on the developments, so they might be more willing to restructure some of the debt,” said Cobus de Hart, analyst at NKC African Economics.
The central bank said in a statement on Thursday its decision to ease currency controls came after it had analysed the “macroeconomic fundamentals of the Angolan economy, and particularly the decreasing trend of international reserves”.
The regulator has been trying to defend the currency using foreign exchange reserves, but reserves have more than halved since 2013 to about $14 billion.
Oil accounts for around 90 percent of Angola’s government revenue and years of depressed crude prices have hammered once booming economic growth and eroded foreign currency reserves.
Angola, Africa’s second biggest oil exporter, has maintained a quasi-pegged exchange rate of about 166 kwanza per dollar, even though the dollar buys about 400 kwanza on a thriving black market.
Under the new system, forex trading will be carried out at trading auctions where a weighted average of offers from the central bank and commercial banks will set the exchange rate.
“In other words, the exchange rate is now determined by the transactions that take place in the primary market by auction,” the central bank said. (Reporting by Herculano Coroado; Additional reporting by Tiisetso Motsoeneng and Ed Stoddard in Johannesburg and Karin Strohecker in London; Writing by Joe Brock; Editing by Catherine Evans/Jeremy Gaunt)
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Angola’s central bank’s new currency plan could see kwanza devaluing by 30% – economist

Armed men blew up a Libyan pipeline pumping crude oil to Es Sider port on Tuesday, reducing the North African country’s output by around 90,000 barrels a day, military and oil sources said.
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The attackers arrived at the site near Marada in two cars and planted explosives on the pipeline, a military source said.
Pictures purportedly showing a huge cloud from the blast in central eastern Libya circulated on social media.
The damage was still being assessed, one oil source said. Oil prices rose on the report.
Islamic State fighters had a presence in the area until government forces expelled them from their main stronghold in Sirte a year ago.
The operator of the pipeline is Waha, a subsidiary of Libya’s National Oil Corporation and a joint venture with Hess Corp, Marathon Oil Corp and ConocoPhillips.
Waha pumps a total 260,000 barrels a day, its chairman said last month.
Libya’s oil production was last put by officials at around one million bpd but exact figures are hard to obtain a country riven by factional conflict.
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Reporting by Ayman al-Warfalli, Ulf Laessing, Ahmed Elumami and Ahmed Ghaddar; Writing by Ulf Laessing; Editing by Andrew Roche
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Blast hits Libyan crude pipeline, cutting output by 90,000 bpd

Nigeria’s oil minister will visit the Niger Delta this week in a bid to stave off a threat of more insurgent attacks in the area, and said that without more investment it would be a struggle to ease tensions and develop its main crude producing region.
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The Niger Delta Avengers, whose attacks on energy facilities in the region last year helped push Africa’s biggest economy into recession, said on Friday it had ended its ceasefire in its campaign for more of Nigeria’s oil earnings.
“We’re constrained by cash,” Emmanuel Ibe Kachikwu, the minister of state for petroleum, told Reuters in an interview on Monday when discussing efforts to develop the Delta. “We’ve scurried around for some money just to begin the process.”
He said he would meet representatives of the militants and other stakeholders during a visit to the region on Nov. 9.
The minister said the government needed to develop its oil and economy to deliver on promises of more cash for the Delta, which rights groups say has long suffered from pollution and poor investment despite being the source for much of Nigeria’s oil output of around 2 million barrels per day (bpd).
Kachikwu said a return to violence by the militants would be “mutually destructive”, adding: “I am sure that like they did the last time, when they see a concrete action plan they would listen.”
Attacks in the oil producing region drove Nigeria’s oil output down to close to 1 million bpd. The Organization of the Petroleum Exporting granted Nigeria an exemption from a global deal to curb output to help it recover.
In its race to rebuild, Kachikwu said Shell and Eni should press on with developing oil prospecting licence (OPL) 245. The $1.3 billion award of the block in 2011 is subject to corruption investigations and court cases. The firms deny wrongdoing.
“It’s been allocated, and there are development plans for it (the block) and those development plans should go forward,” Kachikwu said. “The development of assets should not suffer because we are dealing with a legacy transparency issue.”
The minister said he intended to launch a “roadmap” in January inviting investors to fund repairs and upgrades to pipelines and oil depots, mirroring efforts that aim to draw $1.5 billion to $2 billion into Nigeria’s ailing refineries.
Kachikwu said the plans would not involve selling state-owned stakes but attracting private capital was essential.
“We don’t have the resources, and we don’t have the time to raise the resources, to revamp the sector,” he said.
On changes in the industry, the minister said revisions to oil contracts and operations at state oil company NNPC had saved money, citing deals to exchange crude for fuel, dubbed “direct sale, direct purchase”, that saved the state $1 billion.
Nigeria has called for early talks to renew oil licences held by Shell, Total and others. Licences for several key fields expire in two years and oil firms are typically reluctant to make big investments without long-term assurances.
Kachikwu said such talks could be concluded by the first quarter of next year, although negotiations that are handled by the Department of Petroleum Resources had not yet started.
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Writing by Libby George; Editing by Edmund Blair
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More oil cash needed in Nigeria’s Delta to avert new conflict: Minister

Hussein Sayed | FXTM
Oil prices continued to march higher on both sides of the Atlantic early Monday. In the early trading hours, Brent reached a high of $62.44, a level last seen in July 2015, and represents a 40.8% surge from June’s lows. There’s no doubt that OPEC and co. have been a major influencer of the most recent rally, but oil traders have a new political risk to consider, in the coming days and weeks. The anti-corruption crackdown in Saudi Arabia resulting in the arrest of 11 princes, and dozens of senior officials, led many traders to question how oil prices will be affected.
<div id="attachment_131944" style="width: 490px" class="wp-caption alignleft"><img loading="lazy" decoding="async" aria-describedby="caption-attachment-131944" class="wp-image-131944 size-full" src="http://cnbc.africa/wp-content/uploads/2017/07/hqdefault-50.jpg" alt="" width="480" height="360" />Brent touches a new 2-year high, what’s next?</div>
Given that OPEC’s strategy is unlikely to change, and the 1.8 million barrels a day production cuts will be extended when the organization meets on 30 November, fundamentals remain supportive for high prices. The last thing Saudi may be thinking of is returning to the market share battle, as prices above $60 provide great support for the listing of Aramco in 2018 and these prices are essential for the Kingdom’s economic transformation plans. From the demand side, the outlook is also positive, with the global synchronized economic growth at its strongest levels since the financial crisis. The critical question now, is how the political situation develops from here. I think current market fundamentals justify a price of $60 &#8211; $62, but any further extension in the rally, would likely be an additional political risk premium.
The response from the U.S. shale industry is of great importance at the current stage. Exports from the U.S. have risen to a record 2.13 million bpd in the week through 27 October according to EIA, and after five consecutive weeks of falling rig counts, are we going to see a reversal due to the rising oil prices?  Most probably. As we approach $60 for WTI most of the U.S. shale companies will become profitable, and such additional output, will put a limit on any price gain.
The backwardation in Brent has fuelled speculative long positions to benefit from rolling over future contracts. However, given net long positions have reached record highs, a short squeeze will likely pressure prices despite the geopolitical risk premium.
Overall, I think prices are currently approaching the higher end of the trading range for the rest of the year, and will be looking for a mean reversion towards or below $60 in the weeks to come.

Op-Ed: Brent touches a new 2-year high, what’s next?

Nigerian energy company NNPC is relying heavily on swapping its crude for products such as gasoline as its refineries struggle to run, but an official at the state firm said its access to oil is limited.
While other importers also supply the nation with fuel, Nigeria caps its gasoline prices, preventing private importers from bringing the product in when international prices exceed local ones. The swap program has accounted for as much as 90 percent of gasoline imports, industry sources told Reuters.
“The entire NNPC organization is focused on ensuring that there are no queues and that the country stays wet,” said Henry Ikem-Obih, group executive director and chief operating officer for downstream operations with NNPC. He added it was “the key objective, all the way from the president to the minister”.
But only the Port Harcourt refinery is currently running. The Warri refinery is expected to come back from maintenance within a few weeks, but the Kaduna plant will be down for “a few more months”, Ikem-Obih said.
Ikem-Obih said the so-called direct sale, direct purchase deals that enable NNPC to exchange crude for imported fuels were keeping the country running, but that it was a “very painful task”, made more difficult by limited access to oil.
“The challenge you always have of course is that crude is not limitless,” he said at the OTL Expo in Lagos. “There are times when we actually run out of crude.”
He said the oil swap contract holders had been “very supportive”, at times agreeing to pre-deliver oil products and get their payment in crude later. But he said NNPC was working to alleviate that issue.
“The task for the organization is to go and look for more crude &#8230; whatever crude we can find.”
Ikem-Obih said NNPC was working to find private capital to help revamp its refineries and fix its pipelines and depot system to help it produce more fuel. He said only about 75 percent of its 5,120-km pipeline network was operational, but much of it was undergoing repairs.
Among these are efforts to place pipelines roughly 50 meters underground to make them less susceptible to theft and vandalism.
“We’re lean on capital, which is why we’re hoping that the private-sector people come and partner with us,” he said, adding: “A lot of work is going on.”
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Reporting by Libby George; Editing by Dale Hudson
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Nigeria’s NNPC says oil access is ‘not limitless’ for fuel swaps

Omolade Adunbi | University of Michigan
The rise of ethnic and religious nationalism in Nigeria in the last decade has led to such high levels of tension that it’s prompted people to ask if it will survive as a country. Or if Nigeria is on the brink of another civil war.
What’s behind the growing tensions is unequal distribution of the country’s wealth. Inequality has caused mistrust among ethnic groups. This, in turn, has led to conflict and violence.
Nigeria has in fact been at war with itself for some time – a war that has become intensified in the last two decades.
A number of events illustrate this. For instance, militancy in the oil rich Niger Delta region started after the 2003 general elections where arms and ammunition were purchased by some politicians and handed to young people in an attempt to influence the elections. But after the elections, many young Nigerians, angered by high rates of unemployment, turned the weapons against their sponsors and the Nigerian state.
Another example is the role played by the Oodua Peoples Congress, a group that advocated for an autonomous region for the Yoruba speaking southwest Nigeria. The congress started its agitation in 1994, a year after the annulment of the 1993 presidential election won by M.K.O Abiola, a member of the Yoruba ethnic group. Their dominant message was the alleged marginalisation of the Yoruba ethnic group.
And in 2009 the Boko Haram insurgency erupted after the brutal murder of Mohammed Yusuf, an Islamic cleric based in Maiduguri who had started a movement seven years earlier to push for an end to corruption and action against inequality. He also supported Islamic practices in the northeast region of Nigeria. Yusuf was arrested by the police and died in custody in 2009. Many members of his sect immediately staged a peaceful protest. Protests later became violent when they started targeting police offices and police posts across the North.
Now there is a resurgence of opposition in Biafra. It echoes back to 1967 when the then military governor of the Eastern region of Nigeria, Col. Emeka Odumegwu Ojukwu declared the Igbo speaking East independent from Nigeria. This followed Igbos in the North being targeted after the first military coup d&#8217;etat that ended Nigeria’s first republic. The 1966 coup, mostly led by military officers from the Igbo speaking east of Nigeria, was perceived by many in the North to have specifically targeted and killed many Hausa/Fulani politicians from the Northern region.
Economic inequality cannot be separated from the root of all these developments. Nigerians are frustrated because they can see economic inequality growing at a faster pace than ever before and no one seems to be doing anything about it.
Will these agitations lead to an outright war in the scale of the 1960s civil war? There is no categorical answer to that. But I doubt that there will be another civil war on the scale of 1967-1970, although there may be large scale violence.
<h2>A history of violence</h2>
Violence has always been part of the history of economic and political marginalisation in Nigeria.
Examples can be drawn from the mass violence that led to the 1967-70 civil war as well as the ethno-religious violence of the 1970s, 1980s, 1990s and the 2000s. These included the Zango Kataf conflict, Maitatsine riotsin the North between 1980 and 1985, the Agbekoya farmers uprising in the West 1968-70, the first iteration of the resurgence of Biafra by the Ralph Uwazuruike-led Movement for the Actualization of the Sovereign State of Biafra in 2000 and the national protests against the annulment of the June 12, 1993 presidential election won by Chief M.K.O. Abiola.
Many of these mass actions started as protests against perceived injustice. But they were aggravated by the forceful response of the Nigerian government. The protests all paralysed state activities. But none threatened the survival of the Nigerian state more than the oil related conflicts in the Niger Delta.
Beginning with the state murder of Niger Delta rights activist Ken Saro Wiwa in November 1995 and crystallising in the insurgency against oil corporations and the state, protest action in the Niger Delta have affected the production and sale of oil which is the mainstay of the Nigerian economy.
<h2>How Nigeria got here</h2>
The resurgence of ethno-religious protests in Nigeria can be traced to the fact that wealth circulates among a small group of elites. Although they come from all ethnic and religious groups, they resort to fanning ethno-religious sentiments when they feel there’s a threat to their wealth. Cries of marginalisation becomes the dominant cry when they’re out of power.
The election of President Muhammadu Buhari in 2015, triggered new tensions. This is because he is considered a member of the Northern elite. Immediately after his election protests began supporting self-determination or secession by various groups from the South. These included the Indigenous People of Biafra in the South East as well as groups such as the Niger Delta Avengers in the South-South.
Control of Nigeria’s oil resources in the Niger Delta always comes into the mix. Recent clashes involving the Biafra group in Port Harcourt – capital city of oil rich Rivers State – must be understood in that context. It is no surprise that once again, the Niger Delta is at the heart of the current clamour for secession just as it was between 1966 and 1970 when oil extraction started taking root in Nigeria.
But there are important differences between today’s protests and those staged earlier in Nigeria’s history. The main ones include the fact that people are mobilised differently, and the way in which information is disseminated and consumed.
News travel faster than it used to and unfounded rumours spread like wildfire. Fuelling the tensions is the fact that hate speech is rife. The state is as guilty as the agitators. Voices of reason and objective analysis are lost in the noise especially now that everyone with a smart phone has become a ‘journalist’. In the confusion, the road to anarchy looms large over Nigeria.
<h2>What’s to be done</h2>
An inclusive economic and political system is the only solution. The current public discourse is focused on political restructuring along ethnic lines. The calls for a political arrangement where major ethnic groups will have control over their geographical areas as well as resources therein might help. The danger is that rather than unify Nigeria, it would further divide the country along ethnic and religious lines.
What’s missing in the conversation is the fact that the environment for violence and oppression of most Nigerians has come about because of the way in which the country’s economy is structured. The elitist economy cuts across all ethnic groups. The disenfranchisement, marginalisation and exploitation defy ethnic colouration.
For restructuring to be meaningful, Nigeria must create an inclusive economic and political system where ethnic and religious affiliation will no longer be a defining factor in economic and political participation. What Nigerians need, and are clamouring for, is a country that will accommodate them regardless of ethnic or religious creed. Political, religious and ethnic tolerance is the key to economic and political success, therefore economic and political inclusivity must account for greater tolerance for it to be effective.

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Angola oil production declines slightly in 2017, profits rise

Glencore, banks and Chad reach deal on $1 bln-plus oil-backed loan

Shipments of West African oil to China set to surge to a record

Angola’s central bank’s new currency plan could see kwanza devaluing by 30% – economist

Blast hits Libyan crude pipeline, cutting output by 90,000 bpd

More oil cash needed in Nigeria’s Delta to avert new conflict: Minister

Op-Ed: Brent touches a new 2-year high, what’s next?

Nigeria’s NNPC says oil access is ‘not limitless’ for fuel swaps

Economic inequality lies behind growing calls for secession in Nigeria

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oil

Is Kenya doing enough to protect workers in the oil sector ?

What this East African needs to do to ensure oil industry benefits for its citizens

What to expect from 2018 Joint Technical Committee Meeting

How 15-day planned strike by Total Gabon oil workers could impact the country’s economy

Oil prices rise as China, U.S. put trade war on hold

Kenya is one step closer to building its $2bln oil pipeline

Oil prices dip on rising US rig count

Gulf Cooperation Council: The oil-rich bloc that’s facing a new era

Angola oil production declines slightly in 2017, profits rise

Glencore, banks and Chad reach deal on $1 bln-plus oil-backed loan

Shipments of West African oil to China set to surge to a record

Angola’s central bank’s new currency plan could see kwanza devaluing by 30% – economist

Blast hits Libyan crude pipeline, cutting output by 90,000 bpd

More oil cash needed in Nigeria’s Delta to avert new conflict: Minister

Op-Ed: Brent touches a new 2-year high, what’s next?

Nigeria’s NNPC says oil access is ‘not limitless’ for fuel swaps

Economic inequality lies behind growing calls for secession in Nigeria

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