A high-powered delegation from the Ghana EXIM Bank, one of the major funding banks of the government’s flagship programme, One-district, One-factory (1D1F), has paid a working visit to three pharmaceutical companies in the Greater Accra Region who have received funding from the bank to invest into their operations.
The team,...
The impacts of the current crisis are wide and affecting both Africa’s most promising exploration prospects, but also its multi-billion-dollar landmark projects.
The double crisis of the COVID-19 pandemic and the collapse in oil prices is taking a toll on African economies and the African energy industry. An unstable and...
African countries have fewer coronavirus cases than much of the world, but weaker healthcare systems do put the continent at risk.
Lockdown measures can help prevent the virus spreading, yet governments have taken very different approaches to imposing restrictions on their populations.
Are any countries lifting restrictions?
Some, like Ghana, are now...
U.S. output set to drop significantly after negative prices
Oil refiners to curtail processing as fuel demand remains weak
Negative oil prices, ships dawdling at sea with unwanted cargoes, and traders getting creative about where to stash oil. The next chapter in the oil crisis is now inevitable: great...
Oil resumed its decline to trade near US$15 a barrel as swelling global crude stockpiles made it more difficult for leading producers to balance the market by curbing output.
Futures in New York slid as much as 11.8%, snapping a four-day gain. While U.S. drilling is sliding and Saudi Arabia has started reducing output ahead of...
Renewable energy sources, especially solar, are ideal for meeting Africa’s electrical power needs
About half of sub-Saharan Africa’s population today does not have access to electricity. Those who do have electricity pay on average nearly twice as much as consumers elsewhere in the world. Power shortages cost the continent...
May seem that the worst-case scenario has already come to pass, as United States crude prices plunged far below zero on Monday, with the West Texas Intermediate crude benchmark closing out the day at negative $37.63 per barrel and the international Brent Crude benchmark hitting an 18-year low. While...
The oil majors are facing a financial vice like they never have before.
With oil prices hovering around $20 per barrel and no end in sight for the global pandemic, the financial pain has only just begun. Norway’s Equinor became the first large oil company to cut its dividend, slashing it...
International Brent Crude plummeted momentarily on Tuesday, April 1, the lowest since 21 years ago but recovers a day after to hover around US$20 a barrel. As the novel Coronavirus lockdown grind down many facets of our lives i.e. a grounded airline industry, a drowning hospitality sector, a quandary...