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Total SA cancels plan to purchase Occidental Petroleum’s Ghana asset

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Total SA has called off plan to acquire Occidental Petroleum’s (OXY.N) assets in Ghana, which was conditional on the completion of the acquisition of Occidental’s other assets in Algeria.

This was made known by the French energy company on Monday, 18 of May 2020.

Meanwhile the deal was part of an $8.8 billion agreement reached between Total and Occidental to take over Anadarko’s assets in Mozambique, Ghana, Algeria, and South Africa.

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While a deal over the assets in Mozambique has been reached, Total said that an agreement over the assets in Ghana fell through after authorities in Algiers blocked Total’s acquisition of Occidental’s assets in Algeria.

However, the acquisition of assets in Ghana was conditional upon the completion of the Algeria asset sale, Total said.

It added that Occidental had informed Total that, as part of an understanding with the Algerian authorities, Occidental would not be in a position to sell its interests in Algeria.

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“Given the extraordinary market environment and the lack of visibility that the group faces… Total has decided not to pursue the completion of the purchase of the Ghana assets,” Total said in a statement.

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What governments all over the world are doing after COVID

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What governments all over the world are doing after COVID in 2022.

One of the most important ways that societies intervene to buffer the adverse consequences of socioeconomic disadvantage is through the provision of social assistance. Social assistance refers to government programs that provide a minimum level of income support to individuals and households living in poverty.

When people talk about people receiving public assistance – food stamps, disability, unemployment payments, and other government help – they often have stereotypes and inaccurate perceptions of who those people are and what their lives are like.

This view of some people is affecting policy for the growing ranks of our nation’s poor, says a new report from a joint project from Save the Children and the Center for American Progress. The report compares the U.S. means of measuring economic opportunity and poverty with the experience of other countries, including five peer nations on the same income scale. It shows that people in many peer countries are given assistance as a matter of public policy, and these nations tend to view welfare programs as a short-term emergency measure.

Many countries like the U.S and spend significantly more taxpayer money on assistance than peer countries. After a few years of assistance, people on welfare in the U.S. have a much more difficult time finding jobs, according to the recent National Survey of Transitional Assistance Providers. These programs lend support either in the form of direct cash transfers or through a variety of in-kind benefits (e.g. food stamps and rent subsidies). Social assistance has been shown to strengthen the purchasing power of the poor and raise their material standards of living.

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However, the government does not provide these social assistance programs to ensure marginalized populations are treated fairly, the report says. In fact, U.S. policy determines participation by significant factors, such as the stigma associated with poverty.

Many social programs determine eligibility before a person’s need for support. They include the U.S. Earned Income Tax Credit, which provides an additional tax refund to working families. Similarly, these benefits are made available only to the poor, as with food stamps and Medicaid eligibility. The report finds positive signs.

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Throughout the world, government assistance helps increase your odds of getting a job, incorporates receiving benefits (by lowering the barriers to receive), raises your wages, and reduces the chances of falling into poverty. This means people who receive the assistance are less likely to experience long-term poverty.

Some nations take a deliberate approach to the provision of social assistance because they view the social support system as integral to promoting social and economic mobility. In many cases, straight into the workforce programs and an expansion.

Access to jobs is crucial to moving families out of poverty. Unemployment and disability, for example, only benefit people when they work. A policy reform could make the social safety net more effective.

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African News

Nigeria Warns Of Possible Eid Al-Fitr Bomb Attacks

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Nigeria’s secret police have warned of possible bomb attacks during celebrations for Eid al-Fitr, which marks the end of the Islamic holy month of Ramadan.

In a statement, spokesperson Peter Afunanya said the Department of State Services (DSS) had uncovered a plot by suspected gangs to carry out attacks on critical infrastructure, places of worship and recreation centres.

The warning comes after recent explosions at bars in the north-eastern states of Taraba and Yobe that killed several people.

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A splinter faction of Boko Haram known as Islamic State West Africa Province (Iswap) said it carried out the attacks.

 

 

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Source: GhArticles.com

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World News

Russia Cuts Off Gas Supplies To Bulgaria And Poland

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Russia Cuts Off Gas Supplies To Bulgaria And Poland

The Russian energy giant Gazprom says it has cut off all gas deliveries to both Bulgaria and Poland after both countries refused to start paying for the supplies in roubles.

Earlier, both Polish and Bulgarian energy providers said they had received official notices from the Russian gas supplier that deliveries were due to be cut.

Gazprom’s announcement comes after some confusion earlier this morning, when data showed gas supplies into Poland through Belarus temporarily reduced to zero before resuming.

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Bulgaria’s gas network had also said the country was still receiving Russian gas as of this morning.

We are yet to see any data of gas volumes into Poland or Bulgaria since Gazprom’s announcement just now.

 

 

 

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Source: GhArticles.com

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