Essel Group Middle East (EGME) and Simba Energy Inc. has announced the commencement of a 2D seismic survey on Block 2A in Wajir, Kenya. The survey according to EGME, will encompass an area of around 332 miles and about 248 miles has already been cleared for shooting. To be performed by AGS Oilfield Services Ltd, the aim of the survey is to pinpoint and assess areas with hydrocarbon potential in...

Algeria has recorded a drop in its oil revenue by 32.09% during the first seven months of this year as a result of the decline in oil prices in the global market. Oil is the country’s main source of generating income. For the first seven months, the value of crude oil and petroleum exports dropped by $6.27 billion to reach $14.9 billion compared to the $20.9 billion recorded...

As part of efforts to fast track oil and gas exploration in Kenya, the National Oil Corporation of Kenya (Nock) and Geothermal Development Company (GDC) have signed a deal to provide joint drilling services for this development. Under the agreement, GDC will provide the Nock with drilling equipment such as deep drilling rig and personnel as well as other specialized drilling services.The two...

Far Ltd has announced that the 2C oil contingent resources estimates for the SNE oil field have been increased by 14% to 641 Mmbbls. This is in line with a new, updated Independent Resources Report on the SNE oil field completed by RISC after the successful drilling of two extra appraisal wells, the BEL-1 and SNE-4.  The SNE contingent resources in RISC’s Independent Resources Report...

Cobalt International Energy Inc., has announced that the planned $1.75 billion sale of a 40% interest in two offshore oil blocks in Angola to Sonangol, has been terminated. According to the company, the agreement was terminated due to failure by Angolan government to approve the deal within a year, Reuters reports. “As the requisite Angolan government approvals were not received within...

Global consulting firm McKinsey Global Institute (MGI) said in its “Women Matter” report, the first looking at the importance of gender in Africa’s elites that the continent still has a lot to do in terms of gender equality. “Gender equality is still far ahead,” Lohini Moodley and Tania Holt, two associates of the firm in South Africa, told French Newspaper Jeune Afrique....

According to statistics from Morocco’s Tourism Observatory, 4.2 million tourists have visited the kingdom in the first half of 2016 ended in June. This represents a 2.6% decrease compared to the same period the year before. The number of foreign tourists who have visited Morocco over the period has indeed decreased by 5.6%, while arrivals of Moroccans from the Diaspora increased by 1.7% only....

“Over the first seven months of 2016, Algeria’s trade deficit reached $11.93 billion against $9.43 billion in 2015 during the same period. This deficit thus rose by 26.5%.” This is what reveals data released by Algeria’s National Centre for IT and Customs Statistics (CNIS in French). At the root of the surge in deficit is the drop in exports which plunged from $22.1bn...

The Federal Government of Nigeria said it will inject in its national power transmission network $1.5 billion, by 2019. The investment falls under a 5-year extension programme implemented by the Transmission Company of Nigeria (TCN) and which aims to increase the network’s transmission capacity to 11,500 MW. This will be achieved through the step-by-step implementation of 59 projects....

In a statement published on August 22, 2016, South African telecom giant MTN announced that it was selling 4% of its capital to local black investors. The transaction which involves the firm’s ordinary shares will take the form of an IPO entitled MTN Zakhele Futhi. Estimated to R9.9bn (US$730,620,000), MTN’s offer will be launched next month. Only black investors with a certain number of...