Ghana National Petroleum Corporation (GNPC), has announced that the country’s daily oil production is expected to hit 240,000 barrels by 2020. According to Michael Aryeetey (photo), GNPC’s Chief Operating Officer of Exploration and Production Company Limited (Explorco), this would be attained, when the three oil fields reach their peak production. “This is good news for all stakeholders...

Planned early export of output from Uganda’s crude deposits is currently unlikely due to the magnitude of the infrastructure projects needed to transport the fuel out of the country, Bloomberg reports. The challenges include lack of pipeline, refinery and export facilities.Let’s be reminded that the Ugandan government said that it expects to start shipping crude within five years but in...

Brega Oil & Gas has announced that a gas shipping ship is expected at the Zueitina oil terminal by November ending in order to help restart gas production in the country. According to the company, a delegation which includes high ranking oil sector officials had visited the gas factory in the Zueitina terminal to verify the shipment platform and other shipping equipment. It added that from...

Oil prices on Monday were close to a multi-month lows, driven by concerns about oversupply as OPEC witnessed an increased output in October and the U.S. rig count rose again. Brent crude for January delivery was trading at $44.79 a barrel up 4 cents after decreasing by $1.09 on Friday, hitting its lowest since August 11 at $44.19.The Organization of the Petroleum Exporting...

South Korea committed to provide Uganda, Kenya, Ethiopia and Tanzania $155 million in concessional loans for development projects. Tanzania and Ethiopia will each receive $50 million. While the first will use the funds to develop a power transmission network, the second will direct the sum into an agro-industrial park. Uganda for its part will get $30 million to develop its...

RwandAir plans to start flights to the U.S. in 2019, news website La Tribune Afrique reported on November 10, citing one of the airlines’ official. “RwandAir eyes the US market with a route to New York, if all goes according to plan,” said the carrier’s CEO, John Mirenge. To insure the Kigali-New York liaison, the public airlines plans to buy a new Airbus A350 XWB plane. RwandAir...

Moroccan lenders BMCE Bank of Africa and Banque Centrale Populaire (BCP) are getting ready to issue more than $250 million of green bonds. The Moroccan Capital Markets Authority (AMMC) has already approved on November 4, the issuance of 500 million dirham (about $50.5 million) of green bonds by BMCE Bank of Africa which will thus become the first Moroccan lender to issue such bonds....

In Madagascar, in sight of the coming 16th Francophony Summit on November 26 and 27, land owners expropriated by the government in the framework of the Ivato-Tsarasaotra road project which is to be developed as part of the event claim the State has abandoned them. According to NewsMada, owners of lands concerned by the project still wait for the compensation they were promised two months ago....

Already in a tense relationship with Ivorian rural communities due to the exploitation of argricultural lands, Burkinabe citizens living in Cote d’Ivoire have had their situation worsen with the adoption of the new Ivorian constitution. The new legislation indeed states that “only the State, public bodies and Ivorian private persons can acquire rural lands”. The measure which was welcomed...

The International Energy Agency (IEA) has kept its demand growth outlook for 2016 at 1.2 million bpd and expects consumption to rise at the same speed in 2017. In its monthly oil market report, the IEA announced that the oversupply in the oil market may hit a third year in 2017 without an output cut from the Organization of the Petroleum Exporting Countries (OPEC). The group added that the...