Lekoil Limited has announced that it is expecting unceasing commercial production from the Otakikpo field in Q4 of 2016. The company which revealed this in its interim results said it is aiming for a production rate of 10,000 barrels of oil per day from Phase 1 of the Otakikpo field development plan. According to the Nigeria-focused Lekoil, the company is on the point of starting commercial...

Arabian Gulf Oil Company (AGOCO) has boosted its production from about 150,000 bpd to 290,000 barrels per day, and expects to reach 350,000 bpd by the end of 2016, the Chairman of the company revealed. According to the Chairman, Mohamed Shatwan, production from the company should reach 300,000 bpd soon, adding another 50,000 bpd by the end of 2016. “We have an ambitious plan under which it is...

Royal Dutch Shell plans to export Liquefied Natural Gas to the global market every 20 days from its Idku liquefaction plant in Egypt, according to a source. The company exported a shipment of liquefied gas to the markets through Idku, in mid-September after it received about 200 Mmcf/d from the Burullus gas field. Shell has entered into an agreement with the Ministry of Petroleum to provide...

Finally, Senegal raised FCFA200 billion ($341.5 million) from the sukuk it issued on June 20, 2016, thus 50 billion more than what it initially aimed for, the Islamic Corporation for the Development of the Private Sector (ICD) announced on Sept 28. The sukuk’s size grew as a result of strong demand for subscription at FCFA233 billion, the same source added. According to ICD, a branch of the...

RwandAir airlines has received yesterday, Sept 28, in Toulouse, the first of the two Airbus A330 that it ordered European plane maker Airbus. The transaction makes the state-owned airlines the first East African nation to have ordered Airbus long-haul aircrafts. Named “Ubumwe (Unity)”, the A330-200 equipped with Roll Royce Trent 772B engines, has 244 passenger seats of which 20 in business...

On September 27, 2016, Nigerian President Muhamadu Buhari met at the Abuja Statehouse, an Indian delegation led by Vice President Hamid Ansari. During the meeting, Buhari welcomed India’s decision to invest $5 billion in his country. The funds will be injected in sectors such as health, education, agriculture, technology and trade. Recalling India’s previous investment of $10...

In Ogun State, Nigeria, the Government has entered into a deal with a consortium of four private companies to construct a refinery, projected to be the second largest in sub-Saharan Africa.The deal, which was signed between the government and Petrolex Oil and Gas, Hyundai, Ajayi Legal Partners and Wema Bank Plc., also includes the construction of the biggest petroleum product depot Southwest of...

Mozambique's President, Filipe Nyusi (photo), has dismissed Mineral Resources and Energy Minister, Pedro Couto, reorganizing the department a month before Eni finalizes an offshore gas project worth $10 billion. The president did not disclose the reason behind the dismissal of the Minister, who had held the position since January 2015. Six years ago, the country discovered offshore gas...

Indian pharmaceutical group Kilitch Drugs announced in a statement published on September 20, on the website of Bombay Stock Exchange, that its subsidiary Kilitch Estro Biotech has been awarded a 4,317 m² plot by the government of Ethiopia to build a plant. The infrastructure which will be located in the specialized economic zone of Oromia (in the Eastern part of Ethiopia), will mainly...

Chevron-led $10 billion Angola LNG project has resumed LNG production after a scheduled two-month shutdown. The liquefaction plant which produces 5.2 million tons per year was shut down in July as part of the restart and commissioning programme put in place, following the closure of the facility for more than two years as a result of a major rupture on a flare line that happened in April...