In Ghana the Minister for Petroleum, Emmanuel Armah-Kofi Buah, has announced that the country will receive the third Floating Production Storage and Offloading (FPSO) vessel for the Offshore Cape Three Point Sankofa development by early 2017. According to him, the second FPSO for the Tweneboa-Enyera-Ntomme (TEN) development has already been received in the country and probably, a fourth will be...

The Nigerian Minister of State for Petroleum Resources, Emmanuel Kachikwu, has revealed that more than 30% of petrol being dispatched to Lagos are being diverted to neighboring countries, like Chad and Cameroon. According to the Minister, 400 trucks laden with petrol from the Nigerian National Petroleum Corporation (NNPC) were sent to Lagos but only 250 discharged their contents. He stated...

South Africa is preparing for its a difficult harvest this year, the smallest since 2006. This was revealed by the Crop Estimates Committee which said farmers planted 0.1% less corn crops than last year. Due to the devastating El Niño phenomenon, South Africa may reap 7.05 million metric tons of corn this season, less than the committee’s 7.07 million-ton forecast last month and than the...

“Morocco and China are about to finalize a number of agreements, strategic, economic, commercial, investment, bilateral and regional, directed toward Africa,” Xinhua reported. Few days ago, during the Arab Gulf Cooperation Council, King Mohamed VI of Morocco mentioned the upcoming signing of a strategic agreement with China, without however indicating the regional target. Talks between the...

In its most recent report released in March 2016, OPEP said Africa’s top oil producer, since April 6, 2016, started a visit to IMF seeking for funding for its economic policy. Amid global oil slump that started in 2015, Angola increased its production from 1.607 M bpd to 1.722 M bpd between February and March 2016. However, this is enough to end the severe crisis that the country experiences....

The United Arab Emirates just granted Egypt a $4 billion aid, Egyptian media revealed. Half of the fund will be used as direct investments while the second half will be deposited at Central Bank to support the country’s foreign exchange reserves. Cheikg Mohammed bin Zayev al-Nahyan, Abu Dabi’s Crown prince said the grant is proof of his country’s support to Egypt. Tarek Fayed,...

In Nigeria, the telecom operators association, ATCON, pleaded for the reduction of the $3.9 billion fine imposed MTN for failing to deactivate unregistered SIM cards. The group which regroups Airtel, Glo, Etisalat, through its president, Lanre Ajayi, demanded that the fine is reduced to an amount not above the firm’s annual profit. ATCON says it has learnt its lesson from the crisis that...

Miner Sierra Rutile completed construction of its new dry mine at Gangama and now plans to commence commercial production this quarter. “The completion of the construction phase of Gangama represents a significant d’e-risking step as the project nears commercial production,” said chief executive, John Sisay. The firm has also announced it has restarted rutile sales in the titanium...

Morocco was the one to profit most from the crisis between Russia and Turkey, following the taking down of a Russian military aircraft by Turk army in 2015. Truly, due to the embargo on imports of Turk food products, the Cherifian kingdom was able to gain more markets shares. According to a report from RBK, Morocco is now Moscow’s biggest tomato and orange supplier. The kingdom’s market...

  In Madagascar, Sterling Energy and Pura Vida are currently deliberating on whether to forge ahead with the Phase 3 of their prospects on Ambilobe Block as the Phase 2 of the Ambilobe PSC will expire in July 2016. The JV partners had received both Ministerial and Presidential approval in October 2014 to prolong the current phase of both the Ampasindava and Ambilobe PSCs to July...