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DAR ES SALAAM, Tanzania (AFP) — Tanzania and Uganda signed an agreement Sunday to commence construction on a 1,445-kilometre (900 mile) oil pipeline through East Africa that conservation groups say threatens livelihoods and fragile ecosytems. The project focuses on oilfields in landlocked Uganda discovered in 2006 and proposes pumping the crude to the coast via a pipeline across Tanzania at an estimated cost of $3.5 billion. The multi-national plan is led by French petroleum giant […]
CARACAS, Venezuela (AF) — Oil has washed up to Venezuela’s west coast after a leak in a pipeline that takes crude to the country’s main refinery, national oil company PDVSA said on Saturday. The spill has spread over more than 13 kilometers (eight miles) according to the environmental commission of the opposition-majority national parliament. Venezuela suffers fuel shortages despite having the largest proven oil reserves in the world with only a limited number of its refineries currently […]
by Luis Bravo with Margioni Bermudez in Caracas Agence France-Presse MARACAIBO, Venezuela (AFP) — Cheap gasoline smuggled over the border from Venezuela once flooded eastern Colombia. These days, as desperate Venezuelans run out of fuel, the contraband is moving in the other direction. For the first time Colombian gasoline is cheaper and is being smuggled across the border to fuel vehicles in western Venezuela. “It’s a lifeline,” says Roger, a fruit-and-vegetable vendor in Santa Cruz […]
by Shenaz Patel and David Constantin Agence France-Presse In normal times, Bruneau Laurette spends his days providing armed escort to ships dodging pirates as they head through the Indian Ocean. But in recent weeks, the maritime security expert has surged into a new role: the voice of a nation’s anger after an oil spill soiled the coast of his native Mauritius. The disaster occurred after a 100,000-tonne Japanese bulk carrier, MV Wakashio, ran aground on […]
PORT LOUIS, Mauritius (AFP) — A ship that has leaked more than 1,000 tonnes of oil in pristine waters off the coast of Mauritius has split in two. The bulk carrier MV Wakashio ran aground on a coral reef off the southeastern coast of Mauritius on July 25 and began oozing oil more than a week later, threatening a protected marine park boasting mangrove forests and endangered species. Mauritius declared an environmental emergency and […]
LONDON, United Kingdom (AFP) — Anglo-Dutch energy major Royal Dutch Shell posted Thursday a colossal net loss of $18.1 billion (15.4 billion euros) for the second quarter, blaming massive asset writedowns on the coronavirus-hit oil market. The performance, contrasting sharply with profit after tax of $3.0 billion a year earlier, was sparked by a huge $16.8-billion charge on chronic fallout both from COVID-19 and collapsing oil prices. The vast charge was taken “as a result […]
HARARE, Zimbabwe (AFP) — Zimbabwe on Wednesday announced a 150 percent rise in the price of fuel following the launch of a forex auction system which eroded the value of the local currency. The price of a litre of diesel jumped 152 percent to ZW$62.77 ($1.12) from ZW$24.93 while petrol shot up 147 percent to ZW$71.62, the country’s Energy Regulatory Authority said in a notice. The central bank re-introduced forex auctioning on Tuesday, the first […]
(Eagle News)–The Philippine Coast Guard has deployed a response team to inspect a dredger that ran aground off Zambales last Sunday, June 14. In a statement, the PCG said it deployed the team also to conduct survey operations after the Chinese-registeres MV Zhong Hai 69 Alfa dredger was grounded approximately 200 meters off Barangay Bangan in Botolan. Based on their initial findings,the vessel’s engine room and its compartments have been flooded with seawater. The PCG […]
DUBAI, United Arab Emirates (AFP) — UAE Energy Minister Suheil al-Mazrouei said on Monday current low oil and gas prices are unsustainable and warned that if they last longer, it could lead to energy shocks. Mazrouei said that “very good signs” of rising demand for oil have been seen in China and India, two of the world’s biggest crude consumers, and to some degree in Europe. “This environment of low oil and gas prices, I […]
GUWAHATI, India (AFP) — A huge fire broke out at an oil field near popular ecotourism spots in northeastern India on Tuesday, after gas that had spewed for two weeks from a blown-out well ignited, officials said. The gas well at an oil field managed by state-owned Oil India started leaking in late May in Tinsukia district of Assam state, and the firm said late last week gas was still flowing “uncontrollably”. Tuesday’s explosion sent […]
by Marlowe HOOD Agence France-Presse PARIS, France (AFP) — Falling fossil fuel demand coupled with mounting risk for investors could slash the value of oil, gas and coal reserves by two thirds, sending shock waves through the global economy, energy analysts warned Thursday. The value of projected profits for the sector could also fall by two thirds, according to a report from Carbon Tracker, a non-profit financial think tank focused on aligning capital markets with […]
RIYADH, Saudi Arabia (AFP) — Energy giant Saudi Aramco on Tuesday reported a 25 percent slump in first-quarter net profits due to low oil prices, saying the coronavirus crisis will dampen demand and full-year earnings. The world’s largest listed firm posted a net profit of 62.5 billion riyals ($16.66 billion) in the three months to March, compared to $22.2 billion a year earlier. The company said the drop in earnings mostly reflected a decline in […]
