Sterling Energy has released its operational update and financial results for Q3 ended 30 September 2016 on assets in Mauritania, Somaliland and Cameroon. On the Chinguetti oil field, the Company says it continues to work diligently with Société Mauritanienne des Hydrocarbures et du Patrimoine Minier (SMHPM) and other relevant stakeholders to ensure that the Abandonment and Decommissioning...

Strata-X Energy has announced that it has signed a heads of agreement with Magnum Gas and Power for a farm-in to get up to 75% of the Serowe Coal. Seam Gas (CSG) project is located on the Kalahari Basin CSG Fairway in Botswana. The legally binding long form agreements regarding the farm-in to the Serowe CSG Project are expected to be concluded and signed between the parties within the next 2...

PTT Exploration and Production Plc (PTTEP) has announced that it is on the point of finalizing an investment decision on three petroleum resources, postponed since last year. These three petroleum resources were delayed from last year as a result of the difficult process of procuring licences from local and central governments as well as unclear business models. According to Executive...

In Kenya, Africa Oil and its partners have revealed plans to drill eight exploration and appraisal wells from December. This is aimed at increasing proven resources and improving financing prospects for field development as well as an export pipeline. The drilling programme is to begin with two exploration wells, the first will be drilled in early December, after that two appraisal wells will be...

At least five insurers, locals and foreign, including three Moroccan groups, have expressed their interest in acquiring 35% of Tunisian firm AMI Assurances, website Africanmanager revealed on Nov. 10. The Moroccan firms interested in entering the insurer’s shareholding are Atlanta Assurance, subsidiary of Holmarcom, Saham Assurance and Wafa Assurance whose mother-company Attijariwafa Bank...

In Senegal, the deadline set by the telecom and posts regulatory authority (ARTP) for telecom operators to identify and verify identity of their users passed last Nov. 11. After the operation, the regulator found out that they are four million unidentified SIM card users for a total of 15 million subscribers. However, instead of cutting off the unregistered as it threatened earlier, ARTP gave...

In partnership with GARF Private Investors, Beya Capital, the Global Environment Fund and many other philanthropic institutions, Morocco has launched the Marrakech Investment Committee for Adaption (MICA). The $500 million Fund will be first that the government develops with private investors. The launch took place on the sidelines of the Climate Finance Action Summit 2016 whose topic was...

Facebook wants to connect to the internet the 4.1 billion people who are still not. That is the firm’s major long term goal for the next decade, its chief of technology officer Mike Schroepfer revealed at the Web Summit 2016 which ended in Lisbon, Portugal, on November 10. Facebook aims to make the make the “world more open and connected”. To achieve this, it must therefore boost...

In Algeria, the Industrial dairy production group (Groupe Industriel des Productions Laitières –GIPLAIT) announced it would increase its production capacity from 300,000 litres daily to a million litre. The move aims to fully meet the needs of Algiers’ population as well as that of those of its neighboring wilayas such as Tizi Ouzou, Blida and Tipaza. It comes after it was discovered that...

Falling into the steps of Ivory Coast, Namibia has decided to deny foreign nationals access to its lands. The government has proposed last Thursday in parliament a law in the Land Bill of 2016 to ban foreign land ownership. The bill, if adopted, should help secure the agricultural lands of the country. According to estimates from the Land Minister, Utoni Nujoma, out of 12,000 farms spread...