South Africa’s Gauteng province could benefit from emergency assistance for its agriculture sector. The government has announced a budget of $32 million to support areas affected by low output in the agriculture sector, but provincial authorities fear that this funding is not enough. The country’s corn production has been severely affected by the current drought. Climate hazards have...

Côte d’Ivoire will issue its first sukuk amounting to 150 billion FCFA ($244 million) on WAEMU’s (West African Economic and Monetary Union) regional market, Reuters reports on November 20, citing official sources. Stating that the closing date for the transaction is December 21, 2015, Joseph N’gouma Tano, Chief administrator of financial services at the Ivorian prime minister’s office,...

In Tanzania, TPDC (Tanzania Petroleum Development Corporation) has announced plans to launch an Airborne Gravity Gradiometry Survey (AGGS) this week for oil and gas deposits. According to the Managing Director of TPDC, James Mataragio, the survey will be carried out in Arusha, Simiyu and Singida. The Phase 2 of the AGGS analysis which includes the usage of a special aircraft, will be mapped...

The President of Nigeria, Muhammadu Buhari has called on the leadership of the Gas Exporting Countries Forum (GECF) to take necessary measures in sustaining the price of gas at the international market for the benefit of its members. Speaking at the 3rd summit in Tehran, Iran on Monday, Buhari noted that Nigeria is taking the necessary steps towards making its exuberant...

As the decline in the prices of crude oil lingers, oil companies around the world are cutting their budgets and their staffs. According to industry consultant Graves & Co, the number of jobs cut worldwide has risen to 250, 000 and more are still expected. More than 1,000 rigs have been rendered idle in the industry and over $100 billion in expenditure has been cut this year in order to...

The government of Cameroon appears to want to restart the privatisation process in the country. Speaking in parliament during the presentation of the economic and social plan for 2016, Prime Minister Philémon Yang informed that among sources of income, FCfa 120 billion were expected from privatisation revenue. Finance Minister Ousmane Mey (photo) already gave the game away in a speech given on...

In Mozambique, Wentworth Resources has announced that it is at present holding talks with state-owned Empresa Nacional de Hydrocarbonetos de Mozambique (ENH) to take up operatorship of the Rovuma onshore concession following the departure of Anardarko and its JV partners Maurel & Prom and PTTEP. Anardarko and its JV partners gave up their participating interest in the Rovuma concession on...

In South Africa, Transnet has announced that it has raised 12 billion rand ($ 850 million) via a syndicated loan in order to fund part of its plan on new trains to transport fuel and other commodities. The country’s logistics group has been using wagons to transport commodities like coal, iron ore and fuel. Transnet has been expanding and renovating railways, pipelines and ports in South...

In Tehran, the Prime Minister of Algeria, Abdelmalek Sellal, has advised oil super majors in the oil market to come together and agree on production levels, which he believes can recover crude oil prices. The prime minister declared this in his speech at the 3rd summit of the Gas Exporting Countries Forum (GECF), held in Iran today. Representing President Abdelaziz Bouteflika at the summit, the...

In Ilorin, following the discovery of two filling stations hoarding petrol on Sunday, the Department of Petroleum Resources (DPR) in Kwara State distributed the product to motorists and motorcyclists on queues for free. According to Vanguard, the filling stations include Alkad and Sons Nigeria Limited, located at Olorunsogo in Ilorin and Nasmut Nigeria Limited located at Otte in Asa Local...