oil

Since April, Gabon has been in a state of health. The Central African country is facing a major economic hit as a result of Covid-19 lockdown measures and falling oil prices. The arenas of this unprecedented crisis could remain at Port-Gentil, its oil capital, for a while. Businesses, shops, transportation, tourism and other sectors in the country's economic center are all struggling. Port Gentil has…

Nigeria is formally in recession for the primary time in additional than a decade, ending three years of low however optimistic progress. The African nation's financial system is closely depending on oil exports, however the coronavirus pandemic has lower international demand and the value of oil has fallen. That is unhealthy information for a rustic whose price range plans had been depending on getting a sure value per capita. Barrel, a value that now means Nigeria is promoting crude oil at a loss. Our correspondent…

The country's largest union is stepping up pressure on the government by calling for demonstrations on Monday 28 September to protest the rise in fuel and electricity prices in the country. In the context of economic crisis, the federal government has in fact decided to end its subsidies in these two sectors. The price of petrol at the pump is now indexed to market prices, while electricity prices will double in early September. The threat of a social movement launched by the Nigerian Labor Congress was at the center of…

Two months after the sinking of a Japanese ship in Mauritius, the first overview of the consequences of the oil spill on biodiversity. It will take several months to assess the impact of the 1,000 tonnes of fuel spilled on the coral reef. Also on land, oil spills can have consequences, especially for two bird species that are already in danger. The water in the lagoon is petrol blue. Two months after the oil spill that hit Mauritius in the Indian Ocean, "we sometimes find oil products on the surface," said Vikash Tatayah,…