MADAGASCAR OIL

Africa’s Young President negotiates lower oil prices in Madagascar.  President Andry Rajoelina discusses with oil industry representatives to lower the market price of petroleum products. These discussion border around the need for a more affordable price that will be favourable for the economy. The Malagasy household depend on petroleum products for electricity, and transporting commodities. Despite local exploration activities, the country imports to sustain its nearly 25 million people. The lack of affordable product hampers…