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Petroleum / Mining in Gambia

  • Africa rejects Europe's 'dirty diesel'

    BOTSWANA, 2017/05/04 Ghana and Nigeria are the first countries to respond to reports of European companies exploiting weak fuel standards in Africa. Stricter limits on the sulfur content of diesel will come into force on July 1. Governments in West Africa are taking action to stop the import of fuel with dangerously high levels of sulfur and other toxins. Much of the so-called "dirty diesel" originates in Europe, according to a report published by Public Eye, a Swiss NGO, last year. The report exposed what Public Eye calls the "illegitimate business" of European oil companies and commodities traders selling low quality fuel to Africa. While European standards prohibit the use of diesel with a sulfur content higher than 10 parts per million (ppm), diesel with as much as 3,000 ppm is regularly exported to Africa.

  • Beyond Commodities: How African Multinationals Are Transforming

    BOTSWANA, 2016/05/11 Oil, gold, diamonds, palm oil, cocoa, timber: raw materials have long been linked to Africa in a lot of businesspeople’s minds. And in fact the continent is highly dependent on commodities: they constitute as much as 95% of some nations’ export revenues, according to the United Nations Conference on Trade and Development. But propping a country’s entire economy on commodities is risky business, like building a mountainside home on stilts. You can’t be sure about the weather, or in this case the commodities market. The current free-fall of oil prices to less than $40 a barrel is a glaring example. “The commodities cycle has tanked out,” says Austin Okere, founder of Computer Warehouse Group (CWG), a Nigerian emerging multinational financial services company. “And this time it looks additional structural than cyclical, so it’s not a matter of waiting it out. Something has to give.”

  • Banjul cancels petroleum exploration deal with 3 companies

    GAMBIA, 2014/01/11 The Gambian government on Monday cancelled licences granted to three companies engaged in petroleum exploration, development and production, citing their inability to meet obligations mapped out in the licences. A statement from the Gambian Presidency, received here by PANA, named the three companies as African Petroleum Gambia Limited, Buried Hill Gambia B.V and Oranto Petroleum Limited.

  • Global gas consumption to increase by 4% in 2013

    BOTSWANA, 2012/12/25 World gas request is projected to reach 3,460.7 billion cubic meters (bcm) in 2013, constituting an increase of 3.6% from 3,341.4 bcm in 2012. North America's gas consumption is estimate to reach 890.3 bcm in 2013, equivalent to 25.7% of world request. It would be followed by Asia & Australia with 720.8 bcm (20.8%), Eastern Europe & the Commonwealth of Independent States with 587.4 bcm (17%), Western Europe with 533 bcm (15.4%), the Middle East with 445.7 bcm (12.9%),

  • Gambia signs oil-rights accord with Camac Energy 2012-05-28

    GAMBIA, 2012/05/28 Gambia and U.S.-based Camac Energy Inc. (CAK) signed a contract for the exploration and production of offshore oil, state-run media said, in the West African country’s first agreement of its kind with a foreign company. The government selected Camac from among three explorers shortlisted for drilling rights at Gambia’s A2 and A5 concessions, the oil ministry said in a statement broadcast yesterday over state-owned radio and GRTS television. Camac, with headquarters in Houston, has operations in Nigeria and, through subsidiaries, in China.
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