The European Bank for Reconstruction and Development (EBRD) will now focus on financing renewable energy in Middle East and North Africa, its director Philip ter Woort, has announced.
Posted on : Tuesday , 10th November 2015
The construction of Nyagak III Small Hydro Power Project in Uganda is set to commence soon, this is after the Ugandan Government and a German firm signed a US$ a 1.8m agreement.
Posted on : Tuesday , 10th November 2015
Gas production in Egypt increase by 50m cubic feet in gas production sending a sigh of relief to gas users in the country, a senior official in the Egyptian Natural Gas Holding Company (EGAS)
Posted on : Monday , 9th November 2015
Africa Oil Corp. has announced that it has entered into a definitive farmout agreement with a Danish oil and gas company Maersk Oil & Gas A/S, owned by the Maersk Group (“Maersk”) whereby Maersk will acquire 50% of Africa Oil’s interests in Blocks 10BB, 13T and 10BA in Kenya and the Rift Basin and South Omo Blocks in Ethiopia in consideration for reimbursement of a portion of Africa Oil’s past costs and a future carry on certain exploration and developmen.... Read more »
Posted on : Monday , 9th November 2015
A Minister-designate and Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu has stated that his target is to ensure that Nigeria's crude oil production capacity hits 3 million barrels per day by the end of 2016, from the current production level of about 2.5 million barrels per day.
Posted on : Monday , 9th November 2015
The Tobacco Board of Zambia (TBZ) will purchase about 800 tonnes of tobacco from farmers who are stranded with the crop after private merchants withdrew from the market.
Posted on : Monday , 9th November 2015
Viettel Group (Viettel), a Vietnamese state-run mobile network operator, has recently announced a total investment of USD 736 million to expand its businesses to Tanzania, where it will operate under the brand Halotel to offer 2G and 3G services.
Posted on : Monday , 9th November 2015
Zimbabwe resumed chrome exports last week for the first time since 2011 when Government imposed a ban of raw chrome exports to encourage beneficiation of the mineral.
Posted on : Monday , 9th November 2015
Shanta Mining Company Limited (SMCL), a subsidiary of the UK-based Shanta Gold Limited (AIM:SHG) involved with gold mining, development and exploration in Tanzania, has recently released the Life of Mine (LOM) extension study for its New Luika Gold Mine (NLGM) project which indicates new total reserves of gold at 506,000 ounces (oz) up from 479,000 oz found in 2013.
Posted on : Monday , 9th November 2015
New revelations show that Malawi’s Government has erred by issuing two exploration licences for gas and oil on the World Heritage site of Lake Malawi including the National Park marine protected area which could seriously dent the country’s image in environmental conservation.
Godfrey Mfiti, Environmental Activist in Southern Africa says Malawi breached International conventions and its own Parliamentary Acts on the oil exploration deal. As such, the count.... Read more »
Posted on : Monday , 9th November 2015
Awad, who met his Turkish counterpart Ali Riza Alaboyun on the sidelines of the 8th International Energy Congress in Ankara on Friday, pointed to the multiple investment opportunities in Sudan’s oil industry.
He urged Turkey to enter into petroleum exploration and extraction in Sudan, pointing that Sudan has a comparative advantage in the area of renewable energy, particularly solar energy besides the oil and gas industry.
For his part, the Turkis.... Read more »
Posted on : Monday , 9th November 2015
Sunridge Gold shot up around 50% after it struck a US$65mln (C$85mln) cash deal to sell its majority stake in Asmara Mining, the joint venture company that owns the Asmara mine, in Eritrea.
Michael Hopley, Sunridge chief executive, highlighted that the proposed deal is at a premium valuation.
He added: “(it) equates to a significant premium to the present market value of Sunridge and under the continuing challenging market conditions for junior re.... Read more »
Posted on : Monday , 9th November 2015
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