International Monetary Fund will resume its loan programme to Malawi after suspending a fund last year as due to a corruption scandal, Reuters reported on March 24, citing a member of government. “The IMF has given us a green-light to the resumption of the programme which allows them to disburse about $30 million of the remainder of the $150 million,” said Malawi’s Minister of...

Ethiopian government will miss its 11% growth target for 2015-2016 (8 July 2015 – 7 July 2016) as a result of severe drought ravaging its agricultural sector, said Prime Minister, Hailemariam Desalegn, on March 26, 2016. “The economy will continue to register growth, if not a double-digit fast economic growth,” the Prime Minister said in a newsletter e-mailed by Minister of Foreign...

In Guinea, the High Communication Authority (HAC), amid crisis taking place for some months now, removed its President, Martine Condé, on March 23. 9 out of the 11 commissioners of the authority removed the President and appointed on March 26 El Hadj Abdoul Rahomy Bah, oldest member of the team, as interim President. According to the commissioners, Condé was removed for the following reasons:...

The Nigerian National Petroleum Corporation (NNPC) has extended the timeline for the prearranged startup of its new Direct-Sale-Direct-Purchase (DSDP) crude oil trading and products sourcing agreement, to April. The aim of the DSDP is to substitute the crude oil for product swap programme, which includes terms that had been said to be corrupt. NNPC then involved Duke Oil, Carlson and Napoil on a...

WorleyParsons, has announced that it has been granted a contract by Assiut Oil Refining Company, a subsidiary of the Egyptian General Petroleum Corporation (EGPC) for work on its refinery in Assiut governorate. The scope of work on the refinery project is to run in two phases over the next four years. The Phase 1 entails the development of the engineering, procurement and construction tender...

Following reports of the Egyptian Natural Gas Holding Company’s (EGAS) inability to sign a tender for the purchase of two liquefied natural gas (LNG) shipments expected in April, the company on Monday announced that it has managed to secure the two LNG cargoes for delivery in April regardless of its earlier difficulties. According to EGAS chairman, Khaled Abdel Badie, the first which will be...

The Egyptian Natural Gas Holding Company (EGAS) has up till now been unable to sign a tender for the purchase of two liquefied natural gas (LNG) shipments expected in April. A week ago EGAS launched a tender which was only open to a number of its current suppliers, for the supply of one cargo from April 1 to 7, and another in April 27 to 28, 2016. According to traders, for the April 27 to 28...

In Zimbabwe, the price of fuel is expected to rise steeply next week after the rise in global petroleum prices two weeks ago. The price of crude oil in the global market has been declining since June 2014 after reaching a record high of $118 a barrel before declining to $28 per barrel in January this year. the pump price of petrol as at present is between $1,20 and $1,24 per...

The Africa Centre for Energy Policy (ACEP), has advised the Ghanaian government to consider buying gas from other suppliers in Nigeria after N-Gas, which delivers gas via the West Africa Gas Pipeline Company (WAGPCo), failed to meet the agreed volumes. N-Gas under the agreement with Ghana is to supply 120 Mmscf/d of gas, but instead the company supplies an average of 30 Mmscf. According to the...

Exxon Mobil Corp. is currently holding discussions with Eni SpA for the acquisition of interests in the Mozambique’s Area 4 offshore natural gas development project. According to Wall Street Journal, the terms of the agreement have not been defined but sources say that Exxon is negotiating to purchase about 20% interest from Eni’s, 50%. The acquisition could be announced in coming...