In Egypt, the Ministry of Petroleum on Friday said it has received six bids for oil and gas exploration worth a total investment of close to $200 million. According to the Ministry, Royal Dutch Shell, BP, Apache Corp and Apex are part of the companies that won bids. It added that BP's bid was worth about $46 million, Apache's was at least $60.6 million while Shell offered close...

FAR Limited has debunk claims that it does not have the means to exercise its option to farm-in into the Djiffere block, offshore Senegal. According to the company, there has been reports claiming that it could not raise money to exercise its option to farm into the Djiffere block offshore Senegal. “There has been some concern raised about reports that FAR could not exercise its option to farm...

Höegh LNG has announced the signing of a Floating Storage Regasification Unit (FSRU) contract with Quantum Power Ghana Gas Limited (QPGGL) for the Tema LNG import terminal located near Accra in Ghana. The Tema LNG project, which is supported by national oil and gas company Ghana National Petroleum Corporation (GNPC), is the first such project to be executed in sub-Saharan Africa, according to...

As part of efforts to boost the country’s reserves, State-owned energy company Nigerian National Petroleum Corporation (NNPC) has announced that it is ready to explore for crude oil in the Gulf of Guinea. This was declared by the Group Managing Director of NNPC, Maikanti Baru (photo), during a courtesy visit to the Governor of Edo State, Godwin Obaseki. According to Baru, the corporation will...

In Mozambique, the Institute of National Petroleum (INP) intends to sign new oil and gas prospecting contracts with companies granted rights to test for hydrocarbons across the country by early 2017. According to an INP official, the contracts will be concluded within 2 to 4 months with the companies that have been granted the blocks. Upon the signing of these contracts, the winning bidders...

Speaking at a debate organized by the Institute of Political Sciences, International Relations and Communication (ISPRIC), Mali’s minister of domains, Mohamed Ali Bathily bluntly accused mayors, judges and the territorial administration of being the main sources of land speculation in the country. “The jurisdictions take decisions that are best left unknown unless those who attended the law...

French social network, Viadeo, which planned to go global eying emerging markets, Africa included, went bankrupt after failing expansion. The firm on November 29, 2016 was placed under receivership by the Paris Commercial Court. It will be liquidated in three months. Viadeo is a professional social network which positioned itself as the direct rival of U.S. network LinkedIn. However, the company...

South African firm RCL Foods will cut 1,350 jobs at its Hammersdale plant, in the Kwazulu-Natal province, said the Scott Pitman, head of the firm’s consumer division. Pitman said the firm’s decision was driven by cheaper poultry imports, from the European Union, Brazil, and the U.S. mostly, which forced it to reduce prices of its products in the local market, regardless of production costs....

South Africa’s Minister of public enterprises, Lynne Brown, has appointed Matshela Koko acting chief executive officer of state power utility Eskom. “I approved the Board’s request to appoint Mr Koko as acting Group Chief Executive Officer. Mr Koko has a wealth of experience and understands the challenges Eskom faces. His appointment will also ensure continuity at Eskom,” Brown...

The Rwanda government postponed the sale of its 20% interest in I&M Bank Rwanda via the local stock exchange to the first quarter of 2017, Reuters reported on Nov. 29 citing governor of Central Bank, John Rwangombwa. The Rwandan subsidiary of Kenyan lender I&M Bank should have been listed before the end of this yead. Though Rwangombwa did not say why the listing was postponed, experts believe...