Trading concessions with "governments in exile"
Kilimanjaro Capital, a company registered in Belize, is trying to get investors interested in buying shares of oil and gas concessions bought from African governments in exile. These include self-styled authorities from Cabinda (Angola), Biafra (Nigeria) and southern Cameroon. Sufficient to say that the odds of a positive return on these investments are terribly long. Africa Confidential (subscription required)
Chatham House releases report on crude oil theft in Nigeria
A new Africa Programme report examines the international dimensions of Nigerian crude oil theft and explores what the international community could do to tackle the problem. The report assesses the scale of crude oil theft in Nigeria, analyses how stolen crude is exported and highlights the laundering of proceeds through global financial centres.
Chatham House (there is also a video with a discussion of the report available)
The problems of EITI
The blog Why Nations Fail devotes several blog posts to the Extractive Industries Transparency Initiative (EITI) and discusses its shortcomings and opportunities. Post 1, Post 2, Post 3
Liberian government revokes logging permits
17 logging permits for valuable timber were revoked by the Liberian government. These permits have been given out in contradiction with the 2006 law governing these issues, according to the government. AllAfrica
South African mining law draws criticism
The South African government opened the public review process for a proposed mining law that would bring considerable reform to the sector. Especially the private sector has lost no time criticising the law, which in their view would dramatically worsen the investment climate. Parts of the law would give the government the ability to declare certain resources as "strategic", forcing producers to sell them to local businesses at potentially below market prices to allow to develop local industries. The government has shown willingness to revisit some aspects of the law. This is Africa | African Arguments
Nigerian companies strengthen their oil production
The share of total oil production provided by local companies is rising in Nigeria. International companies like Shell are divesting from onshore and shallow water wells and concentrate on deep water blocks, where political and security risks are lower. Mining Review