Ghana to get second oil refinery

The management of New Alpha Refinery-Ghana, a South African based company with a subsidiary in Ghana is undertaking feasibility studies to establish a tank farm and second refinery in Ghana. The refinery will be located in the Western…

Oil prices around $100 per barrel

Oil prices hovered above $100 a barrel Monday in Asia as traders eyed this week's OPEC meeting and mulled signs of slowing U.S. economic growth that could undermine crude demand. Benchmark oil for July delivery was down eight cents to…

IATA cuts airline profits forecast

The International Air Transport Association (Iata) has cut its profit forecast for the airline sector further because of rising fuel costs. Iata said it expected airline industry profits to be just $4bn (£2.4bn) in 2011 as rising fuel…