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Nigeria Clamps Down on Exxon Mobil

On the heals of the most disastrous oil spill in history off the shores of the American Gulf Coast, Nigerian Officials met with Executives from American Oil Giant, Exxon Mobil on Tuesday and put them on notice. The officials are unhappy with the company’s attempt to clean up a recent spill of about 300 barrels […]

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New Offshore Oil Discovery in Angola

Petrobras, this week announced two new oil discoveries made in Block 15/06, in deep Angolan waters. The Company holds 5% stakes in Block 15/06 and Eni is the operator, holding 35% of the working interest in it. The wells Nzanza-1 and Cinguvu-1 are located around 350 km northwest of Luanda, in a water depth of […]

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Rallying the World against “Blood Oil”

Nigerian President Umaru Yar Adua, who was elected on a platform of stamping out corruption, has recently undertaken a campaign to draw international attention to the issue of “Blood Oil” – the use of proceeds from stolen crude oil in financing international terror groups and domestic insurgents in Nigeria. Understanding the Magnitude of the Problem […]

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Can Obama Deliver American Investment in Africa?

Many high hopes have rested on the shoulders of President Barack Obama following his historic election. Investors and NGOs hoped that the election of America’s first African-American president would bring a renewed spotlight on the tremendous challenges and opportunities throughout the African continent. It remains to be seen whether having to focus on an unprecedented […]

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Ghana-The Latest Front in the Scramble for Africa’s Oil

China is accelerating its efforts to secure access to more of Africa’s oil by teaming its China National Offshore Oil Corp. (NYSE ADR: CEO) with the Ghana National Petroleum Corp. (GNPC) in an effort to bid for a stake in Ghana’s deep sea oil discovery off the West African coast. The announcement was a surprise […]

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