West Africa’s largest cashew processing firm, Usibras Ghana Ltd, called the Ghanaian to support cashew sector as it currently imports 5,000 tons of high-quality raw cashews from Guinea Bissau, due to limited access to the nuts in the country. “We need prompt policies on the taxation of raw cashew nut exports, the establishment of a two months export window for raw cashew nuts, a minimum...

Nigeria’s global inflation rate grew by 16.5% at the end of June, revealed indicators released by the National Statistics Office. This is the country’s highest inflation level in the past 11 years (2005), according to data published by the Central Bank of Nigeria (CBN). Nigerian analysts relates the increase to the devaluation of naira, which made it more expensive to access the currency...

Sound Energy, in its recent operational update on the continued positive developments at the Tendrara licence, onshore Morocco, announced that having now encountering a significant portion of the net pay, it has achieved a very significant gas flow rate which is will stabilize during the cleanup process. According to Sound, the rate is highly commercial and above initial expectations. Sound...

Ivory Coast's Société Ivoirienne de Raffinage (SIR) oil refinery, has requested that the government to help take care of the debts that has been hindering it from making profits. According to SIR’s Managing Director, Thomas Camara (photo), the company reached a 30-year production record of 3.45 million tonnes of refined products in 2015 and output is expected to increase further this...

Engie has announced that it has postponed plans of constructing a liquefied natural gas export plant on the coast of the Kribi region, South of Cameroon.The project, which was supposed to be a liquefaction plant with a maximum capacity of 3.5 million metric tons of liquefied natural gas for export, has been suspended due to unfavorable market conditions. The French utility and LNG player had...

Sirius Petroleum has announced that the Federal Ministry of Environment has approved the Environmental Impact Assessment survey (EIA) on the Ororo Field Licence (OML 95), in Nigeria. This is coming a week after the company announced that they have been granted a three-year extension to the field’s licence, by the Federal Ministry of Petroleum Resources. Sirius and its partners on the field,...

Libya is currently witnessing a delay in the shipment of its crude, as a subsidiary of the Petroleum Facilities Guard protesting in the country have shut down the Al-Hariga oil terminal in the east over non-payment of salaries. The protest which began on Wednesday has resulted in the delay of two oil tankers at the port which has an export capacity of about 120,000 barrels per day. One of the...

In Gabon, the Minister of State, Infrastructures, Public Works and Land Use, Jean-Pierre Oyiba chaired on July 14, 2016, a work session which aimed at finding ways and means to expand the Owendo port, economy-focused news site Direct Infos revealed. Present at the session were the ministers of economy, Régis Immongault ; budget, Christian Magnagna; Transports, Ernest Mpouho Epigat;...

Egyptair ordered nine Next-Generation Boeing 737-800s, for $864 million. This was announced on July 13, 2016, at the Farnborough international Airshow in the United Kingdom. According to the terms of the contract, eight (8) of these airplanes will be financed by Dubai Aerospace Enterprise (DAE), a firm specialized in planes leasing, financing and plane management services. With this...

Construction of the Bab Ighli site in Marrakech which will host the COP 22 has reached 15%. This was revealed to the Ecofin Agency by Abdeslem Bekrate, Head of Logistics and Security division for the event. “We have completed development stage and we start today, July 15, conveying and assembling of structures for the site to be ready for the event,” said the official who added that the...