Egypt’s President, Abdel Fattah Al-Sisi plans to meet with the King of Saudi Arabia, Salman bin Abdul Aziz in February to deliberate on the details of the supply of petroleum products to Egypt for the next five years. Speaking in a statement, a senior official in the petroleum sector stated that the agreement for the supply was concluded at the beginning of January. He noted that the agreement...

In Libya, the National Oil Corporation (NOC) on Monday cleared the oil storage tanks at the Ras Lanuf terminal following attacks by the Islamic State militants on the country's two largest oil ports last week, Reuters reports. The group attacked the Es Sider and Ras Lanuf terminals, which is situated between the town of Sirte, and the eastern city of Benghazi. The attacks prompted clashes...

African Oil Corp., has announced that it has been granted approval from the Government of Kenya to farm-out half of its shares in the three blocks in Kenya to Maersk Oil & Gas. Under the farm-out agreement, African Oil which is Tullow’s partner in the Turkana exploration fields is to sell its shares on Blocks 10BB, 13T and 10BA in Kenya as well as the Rift basin and South Omo blocks in...

Following a failure to sign PSC amendment for the commencement of operations offshore Guinea, Hyperdynamics through its subsidiary SCS Corporation has filed legal actions against its partners under the Joint Operating Agreement (JOA) governing the oil and gas exploration rights. SCS Corporation filed parallel actions against Tullow Guinea Ltd., and Dana Petroleum (E&P) Limited, in the United...

« The Job Factory is the first recruitment company in the DRC no longer considers itself only as a B2B business, but as a business P2B, ie " People to Business", which gives priority to the human » says Patricia Veringa-Gieskes (photo), CEO of The Job Factory, Director of the Federation des Entreprises du Congo (FEC) and godmother of KINFOR16. (26 and 27 January 2016 at the Beatrice...

On December 15, 2015, $1.2 million worth of tanzanite were impounded at the Kilimanjaro International Airport as they were being sent to India. Since the adoption of the Law on mining and its implementation in 2012, this is the 87th attempt of trafficking that has been stopped. An official report published by Tanzanian authorities reveals that in four years, the border police seized...

Orascom Contruction Ltd (OC) has signed in Egypt a contract for the renovation of the Assiut and Damiette power plants. For a total cost of $420 million, it aims to convert the simple cycle thermal plants into combined cycle plants. The modernization which will also allow the plants to generate energy from biomass should help them boost their respective capacity by 50%. The two plants have...

Data released by Bloomberg shows that banks’ teams have been suffering increasing jobs cuts since the 2008 financial crisis. The institutions have indeed cut nearly 600,000 jobs worldwide over the past 7 years. American bank Citigroup which is present in more than 100 countries ejected about 140,000, a third of its personnel, of its employees over the globe. Royal Bank of Scotland (RBS) who...

Benin’s cotton production should regress during the 2015/2016 season. According to the minister of agriculture, this season will produce only 324,000 tons (-18%) as a result of poor weather conditions which led to the reducing of acreage (306,000 ha this season against 400,000 ha the previous year). According to Ecobank, the drop in output arises as Benin’s cotton industry faces various...

Côte d’Ivoire’s Fonds de Développementy Hévéa (FDH) just committed to participate in establishing 11,500 ha of rubber plantations in the country. The fund aims to support this industry which is currently facing the fall in prices of the commodity. “2,500 ha will be established through social subventions and 4,000 ha through communities as part of a project to support the agricultural...