Tunisia is preparing to issue a $500 million Eurobon guaranteed by the United States to plug part of its budget deficit and finance development projects, announced Tunisian minister of Finance, Slim Charker, on June 11. “We are going on international markets to mobilise funds to finance the 2016 state budget and to implement various development projects across the country,” he told...

Mauritius, according to the Global Peace Index 2016 published on June 10 by Australian think-tank Institute of Economics and Peace, is Africa’s most peaceful country. Coming 23rd worldwide, the archipelago, with a score of 1.559 points, outranks Italy, UK, France and the USA. It is followed by Botswana (28th worldwide), second in Africa in the ranking which is based on 23 qualitative and...

South Korea has officially joined the Paris Club, a group of public lenders which until now was made of developed countries. Making the announcement on June 6, the Club thus shows that it is opened to emerging economics which are becoming increasingly important on the sovereign debt market. “South Korea’s arrival in the group is proof of its growing importance as a sovereign lender,” the...

The deal for the acquisition of CI Capital, investment branch of Egyptian Commercial International Bank, by Beltone Financial will not happen. Citing sources with knowledge of the deal, Reuters said it failed to obtain the necessary regulatory approvals. In February 2016, Commercial International Bank announced it received an offer from Beltone Financial, which is owned by billionaire Naguib...

In Algeria, Noureddine Bouterfa (photo), the head of state power firm Sonelgaz, has emerged as the new Energy Minister in a cabinet rearrangement, as the country is struggling to deal with the sharp drop in oil and gas revenues that have pressurized its finances. Named by President Abdelaziz Bouteflika, the new energy minister will be replacing Salah Khebri, while junior budget minister Hadji...

Amec Foster Wheeler has been granted a contract by Sasol for works on the liquefied natural gas (LNG) project in Mozambique. Under this contract, Amec Foster Wheeler will perform a detailed design and engineering work for the phase 1 of the PSA development for surface facilities at Temane, north of Maputo.“This award reinforces Amec Foster Wheeler’s position as a leading Oil & Gas...

The Government of Sudan expects the Al-Rawat oilfield in White Nile State to commence the production of crude oil by 2017 after the drilling of test wells, the Minister of Oil and Gas revealed. Mohammed Zayed Awad (photo) declared this after his visit to block 25, accompanied by Al-Rawat company officials and representatives of the partners. According to Awad, Block 25 has created a challenge...

Rwanda has passed its first national petroleum law to revive investments and exploration in the oil sector, as the country plans to share regional oil production prospects. This is coming after Kenya and Uganda confirmed the discovery of oil. Rwanda plans to bypass changing the law once oil is also discovered on its terrain, as the new law is similar with the petroleum laws in the other two...

Egypt has revealed plans to keep all the natural gas discovered in the Baltim exploration region for itself, permitting the country to reduce its liquefied natural gas (LNG) imports and inspire competitions, Egypt Oil and Gas portal reports. This is coming after Eni and BP made a significant gas discovery in the Baltim South Development Lease in the East Nile Delta, in the Eastern Mediterranean...

In Nigeria, Solar Nigeria project has allowed 49,000 homes to have access to power through solar energy. This was achieved in three months only. More than 14,000 homes among the beneficiaries of this project are located in the Northern states which are marked by a power deficit. The program puts in contact domestic solar equipment providers and homes that are looking to obtain such equipment....