SDX Energy Inc. has announced that following the signing of a contract for the seismic acquisition of 300km2 of 3D data on November 10, 2015, it has commenced a 3D seismic program on its South Disouq concession located onshore Nile Delta Egypt.   According to the company, the seismic program is estimated to last for about three months prior to the commencement of a 3 to 4 month period...

Members of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC members are still supporting a meeting which will be held at Doha in April, to agree on a deal to freeze output even without Iran participating, OPEC sources revealed. Brent crude traded below $39 a barrel on Wednesday, up from a 12-year low of $27.10 attained in January. Russia’s Energy Minister,...

In Uganda, media group Vision Group and Wakaliwood Film Productions have partnered to promote local film production. Vision Group’s CEO, Robert Kabushenga, said media houses should give their best in the production of local content. Kabushenga’s press group publishes newspapers, magazines, and manages internet platforms. He also owns TV channels, radio stations and has assets in the...

Algeria’s foreign exchange reserves have dropped by $35 billion to $143 billion at December 31, 2015, according to data revealed on March 14 in Algiers by advisor to the International Monetary Fund (IMF) Middle East and Central Asia department, Jean-François Dauphin. “Though the foreign reserves remain at a high level, they decreased by $35 billion in 2015 to $143...

Peak Resources reported that a detail project update into the Ngualla rare earths project, in Tanzania, led to a 10% reduction of capital cost to US$330 million and 18% reduction of operating costs to $97 million a year. Feasibility study (PFS) carried out in March 2014 estimated the project required capital investment of $367 million to produce 10,000 tons of rare earths, per...

Morocco will inject $40 billion in its energy sector over the next 15 years. Out of this budget, $30 billion will be dedicated to clean energies. This was revealed to The Naimbian by Abdelkader Amara, Minister of Energy and Mines. “Morocco has been a strong pillar of power transition in Africa and the world,” he said. The Christian Kingdom plans for 42% of energy it produces by...

In the framework of IPO Botswana Telecommunications Corporation Ltd (BTCL) is to launch on April 8, 2016, 40,000 offers were recorded at the end of submission period which ended at the beginning of March. With a share at 1 Botswana pula, the company can raise P462 million (€37 million) on Botswana Stock Exchange. In a statement published by BTCL, Kgotla Ramaphane, PEEPA CEO, said “the total...

Vicky Fuller, currently Chief Investment Officer of the New York State Common Retirement Fund (CRF) joined African Private Equity Venture Capital Association. Mrs. Fuller will join the association’s advisory council which works to develop private equity in Africa. Holder of an MBA from the University of Chicago and a Bachelor in Economy from Roosevelt University, Vicky Fuller has been...

Kosmos Energy has revealed plans to develop a world-class LNG project following the discovery of another gas offshore Mauritania and Senegal. Situated in Mauritanian waters, about 5 km northwest and 200 meters downdip of the Tortue-1 discovery well in about 2,800 meters of water, the Ahmeyim-2 was spud to a TD of 5,200 meters and came across 78 meters of net gas pay in two excellent quality...

Angolan Oil Minister Botelho de Vasconcelos has said that Angola LNG, is expected to resume production by June 2016. The minister disclosed this in Beijing at the invitation of the Chinese People’s Association for Friendship with Foreign Countries. He reiterated that the country’s natural gas processing was postponed in April 2014 because of a gas pipeline failure. Angola LNG had announced...