From its recent peak of US$115 a barrel, the Brent crude oil price had collapsed to a level below the US$50 mark by late January 2015 causing the existing resources to become more costly to access and skilled people even more difficult to attract, according to Chris Shennan, global head of oil and gas consulting at Hay Group
Downstream
Exploration firms must review their investment plans in Africa, says PwC
Oil and gas explorers must re-evaluate their capital expenditure on exploration activity across the African continent in the wake of the significant drop in the global oil price, according to an analysis by PwC
Russian consortium wins bid to build US$2.5bn oil refinery in Uganda
A consortium led by Russia’s RT Global Resources has won the contract to build and operate Uganda’s US$2.5bn crude oil refinery
National Oil to raise US$2bn to buy oil blocks in Kenya
Kenya’s state-run oil company National Oil has announced that it will raise US$2bn to buy stakes in oil blocks on behalf of the government in the country
OiLibya signs fuel coupon contract with UK firm
Libyan state-owned company OiLibya has signed a contract with UK-based TALL Security Print to provide the company’s fuel coupons in Ethiopia
More Articles …
