Egypt’s Petroleum Minister Tarek El-Molla on Thursday, revealed that production rates from the country’s North Bahariya Petroleum Company (Norpetco) have risen to 8,000 bpd. According to the minister in a statement, the overall capacity of Norpetco’s consolidated production was approximately 14.92 million bbls on June 30, 2015. He noted that that the company has increased its storage...

BIA Africa on Friday announced that Cummins has extended its distribution contract in the Democratic Republic of Congo. The company is to now be the official distributor of Cummins’ engine, generator, and filter system product lines for the Republic of Congo, the Democratic Republic of Congo, Cameroon, the Central African Republic, Chad, Togo, Benin, and Burkina Faso. According to Eric...

Fitch Ratings said on January 27 that lower prices of commodities and hike of US dollar were great challenges for emerging countries and could increase pressure on credit ratings in the Middle East, Africa and Latin America in 2016. “If you look at the negative outlooks that are in place today there is a disproportionate number of them that are accounted for emerging markets that are not...

The World Bank just announced it has injected $90 million in Mozambique’s agricultural sector. This funding will be invested into irrigation projects in the central part of the country, Rádio Moçambique indicates. 11 regions in the Manica, Sofala and Zambézia provinces are to benefit from this aid which will last until 2022, thus enabled to mitigate the impact of drought. Leonardo...

Sakunda Holdings has just been awarded a project for the construction of a 200 MW Diesel power ant in Dema. However, the firm which thus enters Zimbabwe’s energy sector says it has more in stock. Truly, the diversified energy company presented national authorities its 10-year plan to generate 870 MW. “Our solution will allow Zimbabwe to have access to the best equipment. Our generators were...

In South Africa, Chevron on Thursday revealed that its Cape Town Refinery’s annual safety and maintenance inspection which is scheduled to commence from February 1, 2016, will result in a necessary economic injection in the Western Cape. The company had spent R412-million on last year’s inspection which created approximately 3 000 extra jobs. It however, estimates this year’s shutdown...

Tanzania Petroleum Development Corporation (TPDC)’s head on Thursday announced plans to construct a mega processing plant soon for natural gas at Likongo in Lindi Region, for the purpose of export. The Managing Director of the corporation, Dr. James Mataragio (photo), revealed that TPDC has before now performed a feasibility study for the project and it would soon commence the laying of...

Office de radiodiffusion télévision du Mali (Ortm) started a new strike yesterday January 27, 2016. According to Ortm’s union committee, the strike is to go on until January 29 at midnight. This movement follows another which took place on the 22 and 23 of December 2015. Since then, a noxious climate has settled within the state-owned audiovisual company. At the time, no agreement could be...

South African private equity management firm, Ethos Private Equity, announced on January 27 2016, it sold out its entire interest in CQS Holdings to Adapt IT, an IT company listed on the South African stock market, JSE. Back in October 2015, the company had already obtained all authorizations regarding CQS but Adapt IT had already announced it would acquire it for $16.6 million (R271...

Egypt has denied threats by four oil companies to withdraw their investments, if the government delayed the payment of arrears owed to foreign partners before the end of March 2016. The spokesman for the Ministry of Petroleum, Hamdi Abdel Aziz, stated this in a statement on Wednesday. He said the existence of fees that has been piled up from previous years does not count as a threat at all,...