Namibia’s Ministry of Mines and Energy has announced that the price of petrol will drop by 20 cents per litre throughout the country on Wednesday while the price of diesel will remain unchanged. 95 Octane Unleaded Petrol at Walvis Bay is to now cost N$10, 49 per litre, Diesel 500ppm will remain N$10, 42 per litre and Diesel 50ppm will stay at N$ 10, 52 per litre. According to the ministry the...

Sonangol and a unit of Total are to start digging on a new deepwater oil pumping project that is to boost Angola’s oil production to over 30,000 bpd, Reuters report. According to the state owned company, the project, which is part of the offshore Rosa oil production field north of Luanda, entails four multi-phase high-pressure pumps installed close to the bottom of sea as well as linking up...

Statoil has obtained a 35% interest in the ER 12/3/154 Tugela South Exploration Right, offshore South Africa from a farm-in transaction with ExxonMobil who is the operator with 40% (co-venturer Impact Africa Limited holds 25%),Oilandgaspeople reports. “This opportunity is in line with Statoil’s exploration strategy of access at scale. It represents access into a frontier basin where we...

South Africa’s Department of Energy has released a new fuel price for the month of November. The price of all grades of petrol, wholesale price of the two grades of diesel, maximum retail price of Liquefied Petroleum Gas (LPG) as well as the price of illuminating Paraffin is to decrease starting from 4th of November 2015. The prices are to decrease as follows: Petrol (93 Octane and 95 Octane)...

The Ministry of Mines, Industry and Energy in Equatorial Guinea has signed a MoU with the Taleveras Group, Gunvor Group, and the Strategic Fuel Fund to build a storage tank farm on Bioko Island. The Bioko Oil Terminal is to include a key amount of crude oil storage space as well as storage for associated petroleum products. It will serve the Gulf of Guinea region and also facilitate processing...

The Tunisian administration, owner of 50.4% shares of Société Tunisienne de Banque, did not exactly manage to convince private investors of the relevance of its restructuration plan. An hypothesis seemingly confirmed at the end of the capital increase which subscription operations took place from 15 September to 14 October. According to the memo on this operation signed by the Financial...

Senegal started this Friday 30 October, its public offering in order to raise FCFA 50 billion on the UEMOA financial market. "In 2015, after a series of operations in the financial market, the State of Senegal wants to close the year with a fundraising on the BRVM (Bourse Régionale des Valeurs Mobilères)", one reads in the information note on the operation. Investors interested by this offer,...

In Burkina Faso, Karim Traoré (photo) is currently off to prison. The president of the National Union of Cotton Producers (UNPCB) is currently held at the central prison of Bobo-Dioulasso. According to APA who revealed this information, his arrest appears to be linked to his management of the cotton sector. The median indicates that he has been criticised by some members of the Union who...

In Côte d’Ivoire, Alassane Ouattara has just announced his intention to raise the share of his country in the world production of cocoa to 50%. “I hope that we will be able to go beyond 50% of the world production in 2020 while continuing to improve the quality of our cocoa”, the president indicated after his re-election. According to the leader, the country which is already supplying 45%...

Predictive Discovery Ltd, gold mining company listed on ASX, reached an agreement with an Ivorian company through which it would bring or arrange a financing and manage the operation in two mining permit areas in Côte d’Ivoire. This concerns operations, it reported on 28 October, in an area which already has its permit and a second area in the north of the country which Wendene permit,...