The report revealed that President Sissoco Embaló had single-handedly negotiated and signed the agreement in October 2020, which stated an uneven share of any future revenues from oil and gas exploration in the sea area located between the two countries.
Guinea Bissau’s prime minister, Nuno Nabiam, as well as the country’s parliament, did not have any hint about the deal. The O Democrata report must have triggered the government as it released the details of the agreement on December 14th.
Armando Lona, Editor of O Democrata, said that the agreement provided for the share of future oil and gas revenues between the countries, but the ratio was unfavorable to Guinea Bissau. Lona declared the agreement illegal, saying that the President had bypassed the public on an issue of national significance…

• More than $73 million USD was diverted since 2018
• Illicit diversion of State resources has severely undermined the economic rights of citizens
• Oil industry is also dominated by unaccountable oil consortia

Leaders of South Sudan are diverting staggering amounts of money and other wealth from the country’s public coffers and resources, undermining human rights and endangering security.

This is according to the Commission on Human Rights in South Sudan which has found in its latest Conference Room more than $73 million USD was diverted since 2018, including transactions worth almost $39 million USD in a period of less than two months.

The Commission noted that this figure is only a fraction of the overall amount looted.

For instance, President Salva Kiir himself admitted as far back as 2012 that South Sudan’s ruling elites had diverted more than $4 billion USD.

The report also found that illicit diversion of State resources …

The Nigerian National Petroleum Corporation (NNPC) has recorded an increase of 80.12% in trading surplus in a month. This increase was recorded between the month of December 2020 and November 2020 which stood at 63,532,499.89 USD and 35,272,487.54 USD surplus respectively.

According to the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru this increase was captured in the month of December 2020 edition of the NNPC Monthly Financial and Operations Report [MFOR]

The trading surplus figure is usually derived after deducting the expenditure profile from the revenue in the period under review. It is also known as the trading deficit.

The report also shows an increment of the operating revenue of the NNPC Group in December 2020 by 33.44% or 359,816.14USD as compared to November 2020 to stand at 1,435,718,936.08USD

Similarly, expenditure for the month increased by 27.54% or 296,283,642.51USD to stand at …

The first-ever Mozambique Gas & Power 2021 Conference & Exhibition targets foreign direct investment inflows into the country’s bankable gas and power projects.   

Mozambique’s gas boom began almost 10 years ago, with one of the largest natural gas discoveries in the past decade that unlocked 85 trillion cubic feet (Tcf) in the northeast part of the country. With subsequent offshore discoveries potentially reaching 180 Tcf, Mozambique has lit up as an investment hotspot on the continent. Moreover, projected gas revenues for the government – valued at $95 billion over 25 years – offer the ability to cultivate long-term economic diversification, job creation, skills development and industrial growth. As the global energy community eagerly awaits first production from the deep-water Rovuma Basin in 2022, the country is set to welcome local and international investors to take part in a prosperous future ahead.

Under the administration of H.E. President Filipe Nyusi, Mozambique …

Gas flaring challenge,

In the sub-Saharan region, approximately 75% of the population lives without access to reliable or stable energy. And yet, Africa flares around 40 billion cubic meters of gas(gas flaring), annually, of which 35 billion cubic meters are flared in sub-Saharan Africa. These statistics provided by ResearchGate highlight how much gas is being wasted and the importance of investing in solutions that minimise this in favor of changing the African power conversation.

Flaring does more than waste, it impacts citizens’ health. The ResearchGate analysis, for example, found that Nigeria flared 23 billion cubic metres annually, alone. And research by the Climate & Clean Air Coalition found that in Nigeria, some people had not seen the night sky for years. Around two million people along the Niger Delta living within kilometres of a gas flare that fights with the sun for dominance of the sky and they suffer …

Mozambique has already set an example of sound policy and governance…