Royal Dutch Shell has announced the discovery of a new natural gas well in the Alam El-Shawish concession area in Egypt’s western desert. According to Shell’s Chairman and CEO, Eden Murphy, initial quantity discovered from the well is estimated at around 500 billion cubic feet of gas with more possible reserves, thereby placing the new find among the largest natural gas discovered in the...

This year, cotton production in Togo could exceed 100,000 tons recorded during the 2014-2015 season. This was revealed by the Nouvelle Société Cotonnière du Togo (NSCT). The company said it should achieve its production goals for the season. To this end, it has sown 131,000 hectares out of 136,000 hectares expected by the end of the year. Considering its goal to produce 100,000 metric tons...

In Dakar last August 17, Chief of the mission from the International Monetary Fund (IMF) to Senegal, Ali Mansoor announced that Senegal’s economy should grow beyond 6% in 2016 and 2017. “We think growth this year and the next will be high. It should exceed 6% and reach about 6.5% in the next two years,” he said. The emissary said the increase would be effectively recorded only if the...

The wait is over in Gabon. Results for the Presidential election are out and reveal that Ali Bongo again President with 49.85% of the votes. His opponent, Jean Ping, had 48.16%. This was reported by Koaci.com and SwissInfo that cited sources from the CENAP. Supposedly, Minister of Interior is about to publish official results. Ali Bongo owes his victory to the Haut Ogooué, his province,...

Philippe Le Houerou, executive vice-president of the International Finance Corporation (IFC), started on August 29, 2016, a 3-day visit in Abidjan, Cote d’Ivoire’s capital. After meeting with various officials including President Ouattara, he said his institution would invest $1.7 billion, around a trillion Cfa in the country by 2020. This sum will be injected in various socio-economic...

On August 26, ratings agency Fitch Ratings has confirmed Tunisia’s ratings for long-term sovereign credit in foreign and currency at “BB-”, with negative outlook. The agency said its decision was driven by the country’s low economic growth and high security risks that dealt a blow to its tourism sector, which is one of its main sources of revenues. Fitch also mentioned actual...

Started last July 11, the sensitization campaign on Act 98-750 December 23, 1998 related to rural land ended with the Soubré department, in the South Western part of Cote d’Ivoire. This was reported by Abidjan.net.  The campaign gathered teams from the management of the rural land office and send them through 17 departments (Sikensi, Divo, Tiassalé, Bouaké, Béoumi, Aboisso, Korhogo,...

GE Oil & Gas’ Takoradi service facility being constructed in Ghana is almost complete as the first two subsea trees for the Offshore Cape Three Points (OCTP) development is expected to be received at the facility in September. The Takoradi facility, which is scheduled to be completed by the end of this month, is part of the company’s measures in support Ghana’s energy production.Aside...

Spain has said that the unfavorable economic situation in Nigeria would affect the importation of oil, gas and other products from the country this year compared to last year. According to the Economic and Commercial Counsellor at the Embassy of Spain in Nigeria, Pablo Segrelles, his country imported products worth 4 billion Euros from Nigeria in 2015 but this will reduce this year due to the...

The Petroleum Facilities Guard (PFG) has halted oil production from the Gulf fields and Al-Wafa field due to non-payment of security fees of the oilfields by the Libyan unity Government (GNA). According to a brigade commander, Mohammad Ahmad Alkhbasha, the PFG in the south shut down the two oilfields, which produce 30,000 barrels per day of light oil condensate. “There are about six oilfields...