Browsing: Nigeria Oil

Tanzania Oil and Gas ATOGS

The second issue the MoU covers is building capacity on health and safety standards, which is another key disqualifier marked on local companies when competing with global actors in the oil and gas market.

Further, the MoU brings onboard knowledge to help the local technocrats, upcoming companies, and experts submit and succeed at various tenders offered on the international markets. In most cases, local companies have lost tender bids to experienced foreign companies.

“We need the local players to understand deeply about these oil and gas related tenders and deliver within the internationally recognized standards”, He added.

The ATOGS chief didn’t hold back his grand ambition to transform Tanzania’s business operations for the greater good, highlighting Nigeria’s success story.

As a gigantic energy superpower, Russia’s foreign direct investment (FDI) accounts for less than 1 per cent of Africa’s total FDI.

However, African Business argued that, with Russia being a small trading partner to Africa compared to the United States and China, the impact on trade would be marginal—yet few Africa developing economies such as Uganda will be more exposed.

Further, United Nations Conference on Trade and Development (UNCTAD) data show that Russia accounts for 2 to 3 per cent of Africa’s trade with the world—most of it is exports.

“Russia also accounts for 2 per cent of the world’s exports to Africa, and only 0.5 per cent imports from the continent” African Business.