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Running story Oil & gas

The oil companies' quiet retreat from the Gulf of Guinea 

Long considered an oil Eldorado thanks to the presence within the region of Africa's two leading oil producers, Nigeria and Angola, the Gulf of Guinea is declining. The inexorable rundown in its output -few if any new discoveries have been made recently in Gabon, Cameroon or Equatorial Guinea - and the fall in oil prices brought about by the Covid-19 pandemic have speeded up the retreat from the region in which the oil majors have been engaged for some years already. [...]
An ExxonMobil FPSO off the coast Nigeria.
An ExxonMobil FPSO off the coast Nigeria. © ExxonMobil/DR
Running story Mining

Brazzaville facing hefty arbitration over withdrawn iron ore permits 

President Denis Sassou Nguesso's decision to withdraw several iron ore mining permits in late 2020 has thrust arbitration proceedings on the heavily-indebted country involving at least $40bn. All of the plaintiffs - Australia's Sundance Resources and Equatorial Resources, Saint Kitts and Nevis-based Avima Iron Ore and Britain's Midus Holdings - are being assisted by law firm Clifford Chance. [...]
Drill cores at the Badondo site.
Drill cores at the Badondo site. © Equatorial Resources

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