Assiut Oil Refining Company (ASORC) has granted Bechtel a contract to provide a delayed coking unit at the Assiut refinery in Egypt. Under the contract, the construction and civil engineering company will carry out a ThruPlus delayed coking technology for the $1.5bn refinery modernization program. The aim of the delayed coking unit is to upgrade heavy oil into quality, light hydrocarbon...

In Ghana, the Tema Oil Refinery (TOR) has commenced the exportation of gasoline to Nigeria after it witnessed a boost in its production capacity from 45,000 metric tons to 60,000 tons. Under the leadership of a new management, the TOR has been making tremendous progress which includes the successful processing of 2 million BO over three months with a financial equilibrium of $2...

Central Bank of Ghana just announced the provision of $100 million the agricultural sector. According to the governor of the institution, Dr Abdul Nasir Issahaku, the deal will help boost the sector’s performances. Funding will be injected in reduction mechanisms associated to loans to agricultural industry. CBG is thus to push commercial banks across the country to fund the sector...

In Uganda, solar solutions dealer, Fenix International, was able to provide populations more than 60,000 kits since 2014 when it entered the market. “Our success to date demonstrates the incredible demand for ReadyPay and the robustness of our financing platform,” said CEO of Fenix, Lyndsay Handler. The firm has developed a peculiar acquisition system. “First, we are bringing clean,...

Diamond miner Kimberley Diamonds started production at its Lerala mine in Botswana after completing open-pit mining which it announced last month. First sale is to take place in June 2016. While informing its shareholders, the firm indicated that full-production would commence in the coming weeks. Also, it highlighted that the treatment plant was designed for an optimized flow and an efficient...

The International Rubber Plantations Society (SIPH) plans to invest €19 million in its business this year. The financing will be used to boost global rubber production by 22% to 228,000 tons. According to the group, this investment will be made while taking in consideration decrease in cost and investment control, in order for it to remain profitable. The firm whose turnover dropped by...

The South African Energy Department on Monday, announced that the retail price of petrol in the country will rise by about 1% from the 4th of May, while the price of wholesale diesel will remain unchanged. According to the department, the price of petrol will rise by 12 cents to 12.74 rand per litre, diesel will drop by 1 cents to 10.52 rand per litre, paraffin would drop by 9.00 cents per litre...

Nigeria’s export of Liquefied Natural Gas (LNG) to the United States dropped from 20.3 million cubic feet in June 2007 to zero in February 2016, the US Energy Information Administration (EIA) revealed. According to the information, Agency natural gas import from Nigeria started on a downward trend since 2008, when it dropped to 3.1 mcf, from more than 10 Bcfpd in 2007 to 2.3 million cubic feet...

Ghana has launched the commencement of a $7 billion offshore Cape Three Points integrated oil and gas project at Sanzuley in the Ellembelle District. This project to be carried out by Eni and Vitol Energy will include the development of the Sankofa and Gye Nyame fields to provide gas to feed Ghana’s thermal power plants for about twenty years. The Gas project will also produce non...

The Minister of State for Petroleum Resources, Emmanuel Kachikwu, has announced that the country will commence the drilling of crude oil in the Chad Basin by Q4 of 2016. Speaking in a statement, Kachikwu said the corporation through its Frontier Exploration Services and Renewable Energy Division (FESRED), had advanced with seismic acquisition activities in the Chad Basin border area. It noted...