oil

News in Brief 13 June 2019

  • Guterres strongly condemns latest attack on oil tankers in Gulf 
  • ‘Heated clashes’ lead to 17 deaths in Darfur; AU-UN Mission launches investigation 
  • UNICEF report ranks the best and worst ‘family-friendly’ nations
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UN and Africa: focus on oil prices, Burundi and South Sudan refugees in Uganda

Very significant shock” of lower oil prices in Africa

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“Very significant shock” of lower oil prices in Africa

Eight oil-producing countries in Africa are facing a “very significant” economic shock following the collapse in oil prices over the past two years.

A barrel currently costs around US$50 on global markets, down from a high of US$125.

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Up to 70% drop in oil revenue hits Nigeria “hard”

A 70 per cent drop in oil revenue in Nigeria has hit the West African country “quite hard” according to Finance Minister Kemi Adeosun.

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UN and Africa: focus on HIV/AIDS, African Development Week and Gabon economy

Mandela grandsons say HIV/AIDS can be defeated by 2030

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Diversify to grow the economy, says top economist in Gabon

Diversifying Gabon’s economy will make it more resilient in the face of plunging oil prices.

That’s according to International Monetary Fund’s Mission Chief for the West African country, Montfort Mlachila.

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Corporate take-over of water must be addressed

Extractive industries like gas, oil and mining companies are taking control of water resources in local communities and even putting people’s health at risk.

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UN releases rules on Oil-for-Food inquiry documents to help States still investigating

To facilitate continuing investigations by Member States into the findings of the Independent Inquiry Committee (IIC) that examined the scandal-ridden Iraq Oil-for-Food Programme, the United Nations today released rules regarding the management, preservation and use of the myriad documents and files produced by the Committee.

Annan agrees to extend Oil-for-Food committee to assist country-level follow-up

United Nations Secretary-General Kofi Annan has decided to extend the mandate of the Independent Inquiry Committee (IIC) into the scandal-ridden Iraq Oil-for-Food Programme until the end of this year to assist national authorities who wish to follow up on the findings included in the Committee’s reports.

US should ‘seek resolution’ with Iraq over Kellogg, Brown and Root contract – IAMB

The United States should “seek resolution” with the Baghdad Government in relation to a $1.4 billion contract awarded to the firm Kellogg, Brown and Root using Iraqi oil revenue, officials from the International Advisory and Monitoring Board (IAMB) set up to track the Development Fund for Iraq (DFI) said today.