ReconAfrica continues to face negative publicity from civil society groups

Breadcrumb

A Canadian oil and gas exploration company, ReconAfrica, continues to face negative publicity from civil society groups regarding its drilling activities in the Kavango Basin.

Among the allegations, the Economic and Social Justice Trust (ESJT) includes the company's failure to find the oil it promised, as evidence shows there was never any realistic prospect of finding the oil.

It is also accusing ReconAfrica of publishing positive prospecting reports to inflate the share price so that insiders could sell their shares at exorbitant prices.

Namibia's journey to producing commercial oil at beginning stages- Shino

Breadcrumb

Namibia still has a journey of at least four years before it is expected to produce its first commercial oil, from reserves discovered in the Kavango Basin.

The Petroleum Commissioner in the Ministry of Mines and Energy, Maggie Shino suggested this at the second edition of the Namibia University of Science and Technology's lecture series on petroleum activities in Namibia.

Shino says additional drilling will start as soon as next month and results of tests into commercial viability are expected within months.