UAE-based trader Gulf Petrochem says it is focusing on East Africa to increase its storage capacity and enhance growth The company executive director S Thangapandian told Oilreviwafrica it plans to ramp up storage capacity in Dar es Salaam and Mombasa. An agreement to lease storage of about 100,000 cu/m to store mainly gasoil and gasoline in the region is expected to be finalised by December....

African Oxygen (Afrox), the JSE-listed gas provider says it has secured an R80-million contract to supply bulk oxygen and nitrogen to pulp and paper manufacturer Sappi’s Ngodwana mill, in Mpumalanga. The long-term contract, which would commence in April 2016 for an anonymous period of time, formed part of the gas firm’s strategy of growing volumes and market share, Afrox MD Schalk Venter...

In a bid to promote local content in Mozambique, South African petrochemical group Sasol and its partners have secured a $45-million agreement with Mozambique's State-owned petroleum products distributor Petroleos de Mocambique (Petromoc) to purchase condensate from the central processing facility in Temane, in the Inhambane province. “Promoting local content is key to ensuring that the...

Upon ending his stay in Cameroon, Turkish ambassador Omer Farouk Dogan (picture) announced that the Turkish private sector plans on investing FCFA 550 billion to develop infrastructures in Cameroon. The funding should, mostly, be used to build sport infrastructures for the upcoming 2019 African Cup of Nations which will be held in Cameroon. “I can assure you that this FCFA 550 billion envelop...

French group Bolloré launched, on 9th September, the reconstruction works of the 1,260 km railroad linking the Ivorian capital to Ouagadougou (Burkina Faso), with an investment of 400 million Euros over 5 years. “These works mark a new beginning, and an important turning point for our history”, raved Michel Roussin, president of the Board of International African Rail Transport Company...

The United States have awarded Benin through the Millenium Challenge Account (MCA), USD 375 million for the financing of electrical energy in the country. This funding will be used to produce and distribute electricity, monitor and reform the policy of the country in terms of energy, as well as setting up energy installations outside of the national network. These funds were granted as part of...

The information document on the FCfa 80 billion bond which Gabon wants to raise from 17th to 24th September 2015 is rather forthcoming in terms of information on the oil production prospects in 2015. For this year, Gabon is forecasting a national production of crude oil at 10.01 million tons in the initial 2015 Finance Law against 10.25 million tons in 2014, a decrease of 8.8%. This drop is...

Ten candidacies, including that of outgoing president Alassane Ouattara, were validated by the Constitutional Council for the presidential election of 25th October in Côte d’Ivoire. Out of the 33 people who submitted their application to the Independent Electoral Commission (CEI), 23 applications were rejected, according to a list published on 9th September by the Council. The heavyweights...

Mozambique has just inaugurated the biggest plant nursery of the continent. This structure meant for the production of 12 million eucalyptus seedlings per year was achieved thanks to a USD 7 million investment from Portuguese Portucel Soporcel and the International Finance Corporation (IFC). The factory which covers 7.5 hectares in the Ile district (Zambezi province), is part of a much larger...

Moroccan Venezia Ice will soon launch the brand into international expansion. Indeed the company has just announced that the Saudi investment fund Swicorp has become the majority shareholder. It indicated that this new arrival in the capital of the company is part of its expansion strategy which will require an investment of over 125 million dirhams. This financing will be used to improve its...