A well head and drilling rig in the Yarakta oilfield, owned by Irkutsk Oil Company (INK), in the Irkutsk region, Russia, March 11, 2019. REUTERS/Vasily Fedosenko/File Photo MOSCOW (Reuters) – Russian oil and gas condensate production increased to 9.37 million barrels per day (bpd) in July, Interfax news agency reported on Sunday, citing energy ministry

By Ed Reed Somalia’s cabinet has approved the members of the Somali Petroleum Authority (SPA). The government has appointed Ibrahim Ali Hussein to serve as the SPA’s chairman and CEO. The Petroleum Law set out the role of the SPA as the government’s regulator. It has the aim of acting in the interests of “all

In this June 1, 2020, file photo, waiters prepare the terrace of a restaurant in order to respect distancing measures in Paris as France gradually lifts its lockdown due to the coronavirus. France’s economy shrank by nearly 14% in the second quarter when the country was in coronavirus lockdown, a third consecutive quarter of negative

Currency trader watch computer monitors near the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room in Seoul, South Korea, Thursday, July 30, 2020. Asian stocks advanced Thursday after the U.S. Federal Reserve left interest rates near zero to support a struggling economy. (AP Photo/Lee Jin-man) Global markets and

Prices and rent of high-end houses have dropped on reduced demand as expatriates flee from Kenya due to Covid-19 in the six months to June in a period that also saw demand for business and office space reduce. Half year report released Wednesday by Knight Frank shows that prices of prime residential houses in places

British Consul General to Istanbul Judith Slater says progress made in 9th round of talks on post-Brexit trade deal Turkey and the UK are one step closer to a free trade agreement after a new round of technical talks, Britain’s consul general to Istanbul said Wednesday. “Further progress made on draft UK-Turkey Free Trade Agreement

In this April 16, 2020, file photo, a customer puts gold bars on basket for sell to a gold shop in Bangkok, Thailand. The price of gold surged more than $30 on Monday, July 27, 2020 to over $1,926 per ounce as investors step up buying of the precious metal often sought in times of

© Provided by The Financial Times Ryanair’s profits plummeted in its most recent quarter, as the coronavirus pandemic forced airlines to ground their fleets and caused passenger numbers and revenues to slump. The budget carrier’s first-quarter results released on Monday showed a net loss of €185m in the first quarter of this fiscal year, compared

An apartment block in Kileleshwa, Nairobi. At one point, Kenya’s city residents may have probably sung along to ‘The Jeffersons’ theme song ‘Movin on up, to the deluxe apartment up in the sky, having finally gotten a piece of the pie.’ But as Covid-19 eats into incomes, a majority of those who were paying high

By Viktor Katona Somalia’s government has announced that it would hold its first-ever offshore licensing round this August, marking the starting point of Africa’s perhaps most adventurous oil frontiers. Still recovering from the disastrous consequences of the Civil War, Somalia currently produces no oil whatsoever and has no exploratory activity taking place. This does not