Market News
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Oil, Gas and Chemical Industry advised to adopt cost culture to survive current environmen
Posted on :Tuesday , 10th February 2015
With the recent fall-off in oil prices, companies in virtually all sectors of the oil, gas and chemicals (OGC) industry worldwide are going to have to plan and manage their projects for greater capital productivity, something they weren’t doing particularly well before the price-drop, and along the way create a “cost culture” inside their companies. That’s according to a. . .
Africa: a development hotspot in 2015
Posted on :Monday , 9th February 2015
Content analyst at Infield Systems Limited, Catarina Podevyn, says Africa is expected to hold a 15% share of offshore capital expenditure over 2015, up 10%, led by developments offshore Angola. In West Africa, offshore Ghana and Congo will also see increasing expenditure, she adds.
"Total's giant, the Egina development offshore Nigeria, is anticipated to be the single most . . .Burundi commits to implement the EITI
Posted on :Thursday , 5th February 2015
The Government of the Republic of Burundi formally committed to implement the Extractive Industries Transparency Initiative, EITI Standard in a declaration published by Come Manirakiza, Minister of Energy and Mine on 20 January 2015 in Bujumbura.
According to Manirakiza, Burundi hopes that this will increase transparency in the management of natural resources . . .Uganda: Oil, gas, minerals private sector fret at govt go-slow on VAT
Posted on :Wednesday , 4th February 2015
Through the Uganda Chamber of Mines and Petroleum (UCMP), the private sector have consistently complained of value added tax (VAT) and withholding tax imposed during the investment phase of the oil, gas and minerals labeling it an additional cost.
During a member’s meeting over the weekend, Elly Karuhanga, president of UCMP said after this tax is removed. . .Oil prices rebound on signs of output cuts
Posted on :Wednesday , 4th February 2015
Brent crude was up 1.3% at $53.65 a barrel, having reached $55, while US oil rose 1.7% to $48.52.
It followed the release of data showing that US demand for leasing oil rigs was slowing, suggesting that producers might be preparing to cut output.Meanwhile, US giant ExxonMobil reported a 21% fall in quarterly earnings on lower oi. . .Please Select an Option
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