“China supports and will keep supporting Togo’s efforts for development but also to boost maritime safety and security,” China’s Ambassador to Togo said on October 12, 2016, on the sidelines of the extraordinary summit of the African Union on Maritime Security. “China is the Africa’s first trade partner; we therefore care a lot about these issues,” the diplomat said while...

Miner Lucapa Diamond produced in the previous quarter ended in September, a record diamond output of 8,853 ct at its Lulo project, in Angola, up 154% from that over the same period in 2015. The new output includes comprises an outstanding number of special diamonds of more than 10.8 ct (137) totaling 3,210 ct. The special diamonds includes two type IIa stones (104 ct and 172 ct respectively)...

The Mauritanian government and Kosmos Energy Mauritania, have entered into an exploration and production contract, concerning Block C-6 located offshore northwest of Nouakchott. This E&P agreement which was signed between Mohamed Abdel Vatah, the Mauritanian minister of energy, and Andrew Inglis, CEO of Kosmos, is part of the government’s policy to revive the oil industry. According to...

The Nigerian National Petroleum Corporation has increased the number of off-takers of the country’s crude oil from 21 to 27. This is coming almost a year after the corporation announced that it has awarded its 2016 crude oil term contracts to 21 companies consisting of international refiners, trading houses and indigenous downstream firms. NNPC on its website on Thursday, revealed that 27...

Total has announced plans to invest $100 million in Egypt in the next five years and also invest more amounts on filling stations, as part of plans to open 10 facilities annually. According to the company’s Senior Vice President for Africa, Stanislas Mittleman, Total recently invested huge amounts in Borg El Arab factory for lubricant and exported part of its production to Jordan, Lebanon...

Madagascar is to postpone the launch of tenders for 40 offshore oil blocks in the Morondava basin till 2017, a top government official in the extractive industry has revealed. “Tenders will soon be launched on 40 offshore blocks in the Morondava basin. They should have been launched this year, but as the new petroleum code is not yet completed, tenders will be launched next year. We have 225...

Sudan has called on China to reach a new Production Sharing Agreement (PSA) on an oil field situated in the southern part of the country, as both sides are expected to negotiate the renewal of some agreements that will soon expire.This was declared by the State Minister for Oil, Mahmoud Abdel-Rahman, during a meeting with Chinese Envoy for Arab Affairs, Ambassador Lee Ching. Both partners...

Uganda has said that the private company to be picked as the lead investor in the proposed $3.5 billion oil pipeline between the country and Tanzania could get up to 60% interest in the project. Tanzania and Uganda intend to complete the construction of a crude oil pipeline by 2020 to transport crude from Uganda's oilfields in the Albertine rift basin and securing a partnership with a...

At the end of the first half of 2016, Morocco’s balance of payments recorded a current account deficit of 23.6 billion dirham against 18.5 billion over the same period in 2015, thus an increase of 27.6%, a report from the Exchange Office. This is mainly due to balance of goods slumping slightly. Over the period considered, exports grew by 1.8%, way lower than in 2014 and 2015 respectively...

World Bank revealed it will not invest in the new Chinese company with a $500 million initial capital for infrastructure in Africa announced last Sept. 12. Named China Overseas Infrastructure Development and Investment Corporation Ltd (COIDIC), the new infrastructure will invest and manage infrastructure projects from concept to feasibility studies as well as follow up financial close, a...