ED 262 KCKCC Sp '24

"Mexico had been struggling with declining oil and gas production for years before Enrique Pena Nieto’s government passed a major energy sector reform in 2013. The timing of the reform was ill-fated, however. The changed went into effect in 2014 as prices began to slide, dampening foreign investor appetite for Mexican oil and gas exploration."

"The UK will pay up to £700,000 ($967,954) to build a new 112-bed wing at Kirikiri maximum security prisons, one of Nigeria’s largest. Boris Johnson, UK’s foreign secretary says sponsoring the prison will allow for some of the over 320 Nigerian inmates currently serving time in the UK to complete their sentences in Nigeria—in line with a 2014 prisoner transfer agreement between both countries."

"Oil prices responded to the news, but traded up only modestly. In contrast, oil prices spiked in early May when the Trump administration pulled out of the Iran nuclear deal, which at the time, was thought to lead to the disruption of around 400,000 bpd of Iranian supply. In other words, the expected Iran outage – which hadn’t even happened yet – added several dollars to the price of crude while an outage in Libya of similar size barely moved the market."

"Testifying in front of the US armed services committee on Mar. 6, the top US general for Africa Thomas Waldhauser said they were “carefully monitoring Chinese encroachment and emergent military presence” in Djibouti. The Horn of Africa nation is home to the only permanent US military installation in Africa. But last year, China opened its first overseas naval base there too, provided loans to the country, and built a railway connecting its seas to the Ethiopian hinterland to improve regional trade."