In a move seen as the continuation of the divestment strategy by international oil companies (IOCs) operating in Nigeria, local downstream company, NIPCO Plc, has announced the acquisition of a 60% interest in Mobil Oil Nigeria Plc from ExxonMobil. According to the Managing Director of NIPCO, Venkataraman Venkatapathy, the acquisition was agreed with the implementation of a sales and purchase...

In Ivory Coast, the Government has revealed plans to organize debt relief for state oil refinery, Societe Ivoirienne de Rafinage (SIR), through public and private funds. SIR is the biggest refinery in the West Africa Country and has amassed debts worth hundreds of millions of dollars since 2008. According to the government spokesman, Bruno Nabagne Kone, the government is in talks with private...

Subsea 7, has been awarded an engineering, procurement, construction and installation contract worth between $150 million and $300 million, offshore Egypt, by Pharaonic Petroleum Company. According to the subsea Engineering, Construction and Services Company, the contract which will be executed at water depths of over 900 meters in the Atoll field includes the installation of over 40...

Eni has announced the completion of the sixth well in Zohr gas field in the deepwater offshore the Mediterranean Sea. According to a company official, the sixth well’s production tests will start later in October and will last for about 10 days. In line with the project’s development plan, the drilling operations along with the establishment of a gas treatment plant and processing marine...

The President of Mozambique, Filipe Nyusi, has appointed Leticia Klemens (photo) as the new Energy Minister.This is coming just weeks after the country and Eni entered into a 20-year agreement to sell BP liquefied natural gas (LNG). Leticia Klemens succeeds Pedro Couto who was removed in late September and appointed as the President of Mozambique's Cahora Bassa hydroelectric power...

Tanzania’s Prime Minister, Kassim Majaliwa has ordered the restructuring of the management and board of directors the Cashewnut board of Tanzania. The official said the institution fails to deliver results and follow government’s directives. Mr Majaliwa added that the board continues to conduct auctions all over the country despite being instructed not to. “This business should be under...

The French National Railways Corporation (SNCF) announced on October 18th it was about to “re-enter West Africa” as it expects to get two contracts in Cote d’Ivoire and Senegal. “We currently have strong partnerships with South Africa, East African nations, Morocco, but we are setting back foot in West Africa,” SNCF’s secretary general Stephane Volant told AFP on the sidelines of...

Madagascar’s civic society strongly wishes to join the country’s land tenure system. In this framework,    the civic society-led organization active in land sector, Solidarité des Intervenants sur le Foncier (SIF) and the Committee for the Defense of Land Right have started yesterday, Oct. 18th, a three-day reflection workshop.     “Our land sector currently...

Cairo and Moscow could sign deal for the construction of the Dabaa nuclear plant next December. Egyptian economic newspaper Al bursa indeed said Russian company Rosatom could sign a contract with the Egyptian government for the project. “Government sources said that the Russian company will complete the verification of data and characteristics of the site next month,...

In a circular he signed, Algeria’s Prime Minister Abdelmalek Sellal said: “we have received information suggesting that some national operators diffuse ads paid in foreign currencies” Aside the fact that the Algerian law forbids services paid in foreign currencies, the head of the government fears that Algerian advertisers might abandon national websites for foreign platforms. The...