In Nigeria, financial transactions conducted via the Internet reached N12.36 billion ($39.5M) in October 2016 alone. This is a true record taking January 1, 2010, as reference, statistics from the Central Bank show. Over the first ten months of 2016, these transactions amounted to a total of N101.9 billion (319.18 million). This is far above 91.8 billion generated in 2015 and twice more than in...

France and Senegal signed on December 21 loan agreements for €195 million which are to be invested in the regional express train project (TER) that must link Dakar to the new Blaise Diagne de Diass international airport. The loan agreements of the Treasury and the French Development Agency (AFD) were signed on the sidelines of a visit of Senegal’s President, Macky Sall, to France....

Canadian-based TransGlobe Energy in its update on Egyptian assets for the fourth and last quarter in 2016, announced that the North West Gharib (NWG) development plan for the NWG 3, NWG 16 and NWG 38 area was approved in early December. The company said it completed the NWG 3 Early Production Facility (EPF) in mid-December and targets first production from NWG 3 at an estimated preliminary rate...

Aminex has announced the commencement of drilling on the Ntorya-2 appraisal well in the Ruvuma Basin in Tanzania. “We are delighted to have commenced the drilling of the Ntorya 2 appraisal well in the Ruvuma Basin. Aminex is one of the few oil and gas companies actively drilling in East Africa and this a very exciting time for the Company,” Jay Bhattacherjee, CEO of Aminex said. The...

Sonatrach has concluded a partnership agreement with Total to carry out a feasibility study as part of the construction of a giant petrochemical complex. The agreement was signed between the Director General of Sonatrach, Amine Mazouzi and Total’s CEO, Patrick Pouyanné. After the signing ceremony of the document, the two sides agreed to strengthen their partnership in the hydrocarbon...

A committee set up by the Organization of Petroleum Exporting Countries (OPEC) to monitor the compliance of members and non-OPEC members with the global pact to cut oil output, are to meet at the beginning or in H1 of January, according to Kuwait's oil minister. “We will meet in January with OPEC and non-OPEC countries and we will coordinate over the method in which (compliance with) the cut...

Egypt is looking to reach an agreement with Iraq regarding the direct import of crude oil from the country and hopes to conclude the deal by Q1 of 2017, Petroleum Minister Tarek El Molla (photo) revealed. This is coming after Saudi Arabia informed Egypt last month that shipments of oil products expected under a $23 billion aid deal had been halted until further notice. According to El...

Harvest Natural Resources (HNR) has announced that its wholly owned subsidiary, HNR Energia, has signed a Sale and Purchase Agreement with BW Energy Gabon, to sell all of its oil and gas interests in Gabon. Under the agreement, BW Energy Gabon will acquire HNR Energia's 100% interest in Harvest Dussafu, which owns a 66.667% interest in the Dussafu production sharing contract encompassing a...

Panoro Energy ASA in its update on the Dussafu Marin production sharing contract in Gabon, announced that its subsidiary Pan Petroleum Gabon B.V. has signed a Memorandum of Understanding with BW Energy Gabon Pte. Ltd. (BWEG), the leading global provider of floating production services to the oil and gas industry. Under the terms of the initial partnership agreement, Panoro will farm-out a 25%...

The Nigerian Agip Oil Company, a subsidiary of Italian oil major Eni, has announced that the Zabazaba and Etan deep water project on Oil Prospecting Licence 245, will generate $8billion for the Federal Government. According to the Managing Director of the company, Massimo Insulla, the promoters of the deep water project are eager to take the final investment decision and are determined to...