South Sudan’s oil revenues fell by 75% to $60 million a month, amidst renewed conflicts between troops devoted to President Salva Kiir (photo) and troops loyal to Vice President Riek Machar.The International Monetary Fund (IMF) has before now notified of economic ruins for the country The country, which split from Sudan in 2011, is at present producing oil at 160,000 bpd, in spite of a...

Angola LNG has announced that it has reissued an international supply tender it cancelled in June in order to align it with its operations. According to an Angola LNG spokeswoman, a new tender was held shortly after the cancellation. This new tender, is for the fourth LNG cargo loaded at the 5.2 million tons per year $10 billion Angola LNG project, led by Chevron since the facility resumed...

In Uganda, the Energy Minister, Irene Muloni, has announced that the building of the Uganda-Tanzania crude oil export pipeline will start in January 2017. The Minister said that the two countries have decided to accelerate the project which will cover 1,443 km, following talks between the Ugandan and Tanzanian delegations in Hoima Town, Uganda. The pipeline has been estimated to...

TSX-listed miner Caledonia Mining produced in Q2 2016, 12,509 oz of gold, up 20% from the same quarter the previous year. This output is also 16% higher than that in Q1 2016. The firm also said it is on the right track to achieve its 50,000 oz goal for the year. It plans to gradually increase production throughout the rest of the year, eying 14,000 oz in its last quarter. During...

Ten member countries of the Southern African Development Community (SADC) after investing $1bn in agricultural subsidies over the 16 past years failed to ease rural poverty in the region. This was revealed in a report from the African Centre for Biodiversity (ACB) who also said the overuse of hybrid maize seed and fertilizer deteriorated the quality of the soil in the region. The...

The National Statistics Institute of Mali revealed on Saturday 9 July that the country exported in 2015, 70.2 tons of gold, against 53.2 tons the previous year, due to a better production by artisanal miners. Gold output in 2015 was estimated at $2.2 billion. Out of the 70.2 tons exported, 46.5 tons come from industrial producers, 0.7 tons more than in 2014. The remaining 23.7 tons were...

Emirati group Elite Agro said it will increase its investments in Morocco to become a major actor of the fruit sector. According to the firm’s head, Abdulmonem Almarzooqi, it plans to operate 1,500 ha of orchards in the five next years. The Rabat-based group is presently in negotiations for about 108 ha of arable lands around Kenitra while 170 ha will be used to grow pomegranate at Beni...

Today, the Angolan finance minister said on Monday that his country borrowed, between November 2015 and June 2016, $11.5 billion from various lenders, to plug its budget deficit. Among these lenders, the China development bank provided $5 billion while China-backed firms granted $2 billion. Africa’s third largest economy by Gross Domestic Product must face consequences of the...

Shell Petroleum Development Company of Nigeria Limited (SPDC) has again shut the 180,000bpd Trans Niger Pipeline (TNP), one of the two key pipelines that conveys the nation’s Bonny Light, for export. This announcement is coming after the company shut the pipeline on June 9, 2016, and later reopened it following the completion of repairs.The 28” TNP transports about 180,000 bopd to the Bonny...

Royal Dutch Shell has won a tender to sell 1 million barrels of Nigeria's Bonny Light crude to a group of refining companies in Argentina. The tender was awarded to the company last week, traders said. Companies interested in purchasing the crude oil cargo include Oil Combustibles, Axion Energy, Petrobras Argentina and Shell itself. The crude oil cargo is expected to be delivered from August...