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Saudi Arabia: Prince Bandar replaced

Saudi Arabian intelligence chief Prince Bandar Bin Sultan has been removed from his post and will be replaced by his deputy, state news agency SPA said on 15 April. “Prince Bandar was relieved of his post at his own request and General Youssef Al...

Rising oil exports give Iran taste of potential gains

The latest round of talks between Iran and the P5+1– that is China, France, Germany, Russia, the United Kingdom and the United States, led by European Union foreign policy chief Catherine Ashton – took place in Vienna on 8-9 April, and when the...

SBM: Internal investigation findings

Netherlands-based oil services company SBM Offshore on 2 April released the findings of an internal investigation of the company’s use of agents. The investigation, carried out by independent external counsel and forensic accountants (Paul...

Libya: Oil terminals deal still depends on political fix

The handover of two terminals to the central government by the Political Bureau of Cyrenaica (PBC), whose armed groups have blockaded them since last July, is the most optimistic sign so far that an end to the crisis over Libyan oil exports is...

ENI: Scaroni convicted

Eni chief executive Paolo Scaroni has received a three-year jail sentence and a ban on holding public office for environmental violations at an Italian power plant while he was head of Enel. Scaroni denies wrongdoing and has said he will appeal...

Nigeria: Another step forward for the power sector as international investors bide their time

The government has confirmed preferred and reserve bidders for seven of the ten power plants that make up the National Integrated Power Project (NIPP). Approval for the remaining three was halted by a court action brought by local company...

Ghana: Kojo Annan behind Gondwana deal

A company controversially awarded right of first refusal for the Offshore Cape Three Points South Block obtained its rights via Kojo Annan, the businessman son of former UN secretary-general Kofi Annan. Gondwana Oil Corporation’s listing...

Uganda’s parliament votes to oust Umeme, Eskom, but investors stand firm with government backing

Days after private distributor Umeme posted profits of USh84bn ($32.9m) for 2013, a substantial increase on 2012’s USh57bn, parliament has asked the government to terminate the company’s 25-year concession, as well as recommending that Eskom...

Seplat in trendsetting dual listing as Nigeria becomes Africa’s largest economy

A long overdue rebasing of gross domestic product (GDP), the first since 1990, has seen Nigeria overtake South Africa as Africa’s largest economy. The rebasing process, which now sets 2010 as the calculation benchmark, has added $240bn to GDP,...

Qatar: Military spending spree

Qatar has announced contracts worth around QR87bn ($23.9bn) for missiles, tankers, helicopters and other weapons. The deals – with around 20 international companies – were announced on 27 March, the closing day of the Doha International Maritime...

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