In Namibia, the Ministry of Mines and Energy has revealed that petrol and diesel pump prices for March will be reduced on March 2, 2016. According to Mines and Energy minister, Obeth Kandjoze (photo), the retail price 95 Octane Unleaded Petrol, will reduce by 50 cents per litre while the wholesale price of all grades of diesel is to reduce by 30 cents per litre. He said global oil glut is still...

Japan’s Prime Minister Shinzo Abe, after meeting with Egypt’s president Abdel Fattah al-Sissi in Tokyo on February 29, announced Japanese firms would invest 2 trillion yen ($17.7 billion) in various sectors in Egypt. Abe, without providing much detail, said Egypt’s power industry was one of the targeted sectors. However, a high official from the Japanese ministry of Foreign Affairs...

Startimes Media Côte d’Ivoire SA, Akwaba Tele SA and Tv-Com Côte d’Ivoire SA have joined the list of satellite-TV operators in Cote d’Ivoire. The approval of these channels is not part of the plan for the establishment of free aerial TV, for which a call to offers will be later launched, Ivorian High Authority for Audiovisual Communication (HACA) said in a statement cited by Fraternite...

In a release published on February 24, 2016, mobile operator Lumitel, Viettel’s Burundian subsidiary, announced the launching of its 4G network in six of the country’s provinces. These are Bujumbura, Gitega, Ngozi, Rumonge Makamba and Muyinga, telegeography.com reports. With this new network, Lumitel introduces customers to a new range of mobile internet services with speeds of up to...

American rating agency Standard & Poor’s indicated in a recent report that sovereign commercial loans to SSA (sub Saharan Africa) nations would decrease by 20% in 2016, down to $37 billion. This based on data on 18 of the region’s countries which the agency rates. The report adds that 64% of these loans, a little more than $23.7 billion, will be in local currencies while the...

Puma Energy has announced that it has obtained a licence to operate as an Oil Marketing Company in Ghana. According to the Chief Operating Officer Christophe Zyde, the company has obtained a licence and essential authorization from the National Petroleum Authority to operate as an oil marketing company in the country. “Two weeks ago, we received approval from the NPA to change the name UBI to...

Afrox has announced that it has secured more multimillion-rand, multiyear supply contracts. According to the company, it had been granted a R60-million, three-year contract extension to supply bulk liquid nitrogen, compressed and special gases and welding consumables to an oil refinery in South Africa. It also acquired a R40-million, five-year contract extension for the supply of liquefied...

The British banking group Barclays has confirmed today March 1st that it will exit African market. “We will sell down our 62 percent stake in Barclays Africa Group Ltd over the next two to three years to a level that allows us to deconsolidate the unit,” the lender said in a statement. Barclays added that selling its shares in the bank, which resulted from the merger between Absa Group...

SacOil has entered into a deal have a direct line of site of activities in the Block III, Albertine Graben prospect in the Democratic Republic of Congo. The company, has an indirect participating interest in Block III, Albertine Graben which is currently held by its subsidiary Semliki Energy. Sacoil through the contract will now have its own interest in Block III directly as well as have direct...

Sasol has granted SNC-Lavalin four projects in South Africa, Engineering news reports. The first three contracts would be performed at Sasol’s Secunda plant. The scope of works for the first project includes engineering, procurement and construction modifications for the Dorr Oliver filters and their respective auxiliaries at Sasol Synfuels’ Coal Processing West Plant. Work on the project...