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Ghana can continue production in Ivory Coast oil dispute

HAMBURG – An international maritime tribunal on Saturday ruled that Ghana can continue production in a multi-billion dollar offshore oil development in an area of the sea involved in a boundary dispute with Ivory Coast but must not start new exploration. Ivory Coast had made a request to the Hamburg-based International Tribunal of the Law of the Sea (ITLOS) that ...

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Sweet crude and sweet tooths: Fracking increases demand for chocolate

According to a recent report by Reuters, the demand behind the stockpiles of chocolate left over from Halloween and insatiable sweet tooths everywhere is due to an unlikely source: the shale boom. An abundance of crude oil has reduced the price of gasoline to the lowest levels in four years. By spending less money at the pump, consumers are better ...

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Black gold buccaneers: Oil piracy in the Gulf of Guinea

The frequency of piracy attacks in the Gulf of Guinea has increased at an alarming rate in recent years. According the United Nations’ 2013 Transnational Organized Crime threat assessment for West Africa, piracy in the Gulf “is a product of the disorder that surrounds the regional oil industry.” Nigeria, which produces well over 2 million barrels of oil per day, ...

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Once a model for Africa, Ghana’s economy loses its shine

ACCRA (Reuters) – Rising bond yields, mounting inflation and a weakening currency have taken the shine off Ghana, a country until recently hailed as a model for African growth. An oil boom helped fuel five years of GDP growth above 8 percent making Ghana an emerging market star, a stable democracy whose population of 25 million was moving steadily into ...

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Oil tanker missing off Ghana coast amid report of piracy

BY KWASI KPODO ACCRA, June 7 (Reuters) – A Liberia-flagged oil tanker has gone missing off the coast of Ghana and a senior port official told Reuters on Saturday the captain sent a distress call to say the vessel was attacked by pirates. The Liberia-flagged MT Fair Artemis last made contact with its manager, Fairdeal Group S.A., at 6 p.m. ...

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