In Libya, Waha Oil Co has said that its production has reached over 75,000 barrels per day (bpd) through the Waha and Samah fields and it is expected to increase further once the Jalu field comes online. Output at the Waha field, resumed last month after several blocked ports were reopened and exports from the field, is being directed through the Ras Lanuf terminal, while renovation works are...

Newcrest Mining and Randgold Resources, respectively 22nd and 29th largest mining firms worldwide, signed a memorandum of understanding to create a joint venture to explore, develop and exploit mineral resources in their common area of interest which is located in the South Eastern part of Cote d'Ivoire. Data reveals that this area covers the extension of prolific Ghanaian gold belts and...

Nigeria's GDP fell by 2.24% in Q3 2016 compared to the same quarter the year before, the National Statistics Bureau (NBS) revealed. Oil revenues which represent 70% of the country’s total earnings slumped by 22% compared to 2015. From 2.17 million barrels per day last year, Nigeria's oil output fell to 1.63 million barrels per day in 2016. Also, amid oil price slump, oil infrastructures...

The Moroccan Phosphates Office (OCP in French) signed on Nov 19 an agreement to build a fertilizer plant in Ethiopia for $3.7 billion. The agreement was signed with Ethiopian state-owned company Chemical Industries Corporation (CIC) during an official visit of king Mohammed VI to Addis Ababa. The infrastructure will be built in two stages. First, a unit with a production capacity of 2.5...

Visiting Port-Gentil, Gabon's minister of Urbanism, social habitat and housing, Bruno Ben Moubamba, passed quite the strong message to actors of the land sector. Announcing a new urban rule, the official said all those who would fail to comply to it would face severe sanctions. “Under my rule, I will not hesitate to arrest, jail or sue anyone. Not for a minute. I will overcome anarchy and...

The United States Agency for International Development (USAID) will provide the East African Community (EAC) a five-year $194 million facility to foster economic integration and free movement of people and goods in the region. The agreement for the facility was signed on November 17 at EAC's headquarters in Arusha, Tanzania, by the US embassy Charge d'Affaires in Tanzania, Virginia Blazer,...

Nigeria’s President, Muhammadu Buhari (photo), has pleaded with militants in the Niger Delta region to stop the act of bombing oil and gas pipelines which only assist in destroying the country’s ecosystem and economy. He urged the people of the region to take full benefit of the huge potential in agriculture adding that his administration was dedicated to doing everything possible to support...

Argentina is to receive two tankers carrying 3 million barrels of Nigerian and Angolan crudes to feed its domestic refining network, pushing the country’s imports close to 2015 level. According to data from Thomson Reuters, Argentina in 2015 received about six million barrels of imported crude, typically African medium and light grades bought by independent refiners on the open market. This...

In an effort aimed at ensuring the success of the deal to cut output next week, the Organization of the Petroleum Exporting Countries (OPEC) has asked Iran to cut production at 3.92 million bpd. According to reports, several members of the Organization of the Petroleum Exporting Countries (OPEC) met with Iranian officials on Friday, to convince the country to cut its oil production so as to...

Egypt’s Nooros field gas production is now almost at 900 million cubic feet of gas per day and expected to reach 1 billion cubic feet per day in Q1 of 2017, according to Eni. Eni began production at its Nile Delta offshore field Nooros in September 2015. It formerly said that it expected a peak production capacity of about 160,000 barrels of oil equivalent per day in 2017. Egypt's oil...