Following reports of military fights close to major oil ports, Libya's National Oil Corporation (NOC) has announced that it has withdrawn non-essential workers from the Es Sider port. According to NOC, there are no plans to suspend any loadings at the port. The company added that it had held talks meetings with affiliates and had commenced emergency procedures close to the area where the fight...

The National Petroleum Agency of Sao Tome and Principe has announced that the country has agreed to terminate an oil concession awarded to Sinoangol, for breach and violation of contract. Sinoangol is a joint venture between China's Sinopec and Angola's state-owned petroleum companies, Sonangol. A report on the Extractive Industries Transparency Initiative's website, revealed that in 2014,...

The Nigerian Minister of State for Petroleum Resources, Emmanuel Kachikwu (photo), has announced that the country hopes to reach a crude oil production of 2.1 million barrels per day in January 2017. The country is currently targeting an increase of 200,000 barrels per day, with its current production being 1.9 million barrels per day. This is coming after the Minister on Monday said that...

Indian oil companies are requesting for an increase in the volume of Nigeria’s total term contract by more than 20% in 2017, as demand from the South Asian country rises, an official from the Nigerian National Petroleum Corporation (NNPC) said. This is coming a few weeks before Nigeria finalizes its crude oil term lifting contracts for 2017, which is expected to be done by mid-December, S&P...

Mozambique's cabinet on Wednesday announced the approval of amendments to the liquefied natural gas (LNG) contracts with Anadarko and Eni, in order to allow the two companies sell the government's share of gas from projects in the Rovuma Basin. The LNG contracts are related to Anadarko's Dolphin Tuna project and Eni's South Coral project in areas 1 and 4 of the Rovuma basin. “The government...

State-run Tanzania Petroleum Development Corporation (TPDC) is currently in negotiations with Africa's richest man, Aliko Dangote (photo) as regards the supply of natural gas to the Dangote Cement factory in Tanzania. The $500 million cement factory in the southeastern Tanzanian town of Mtwara, was established in 2015, with a yearly capacity of 3 million tonnes. The facility operates on...

Indigenous oil and gas company, Southfield Petroleum Limited, has signed an Equipment, Procurement and Construction (EPC) contract with China Machinery Engineering Corporation (CMEC) to build a 250 million standard cubic feet per day gas processing facility in Nigeria. The project, which is worth $198 million, has been planned for completion by 2018 and is expected to be sponsored by the...

Guinea’s minister for land development and urbanism, Louceny Camara, interviewed by Africaguinée, reaffirmed its will to hunt all the illegal residents of state lands. His determination translated into the ongoing State land recovery operation. Though he said no one would receive a treatment of favor, the official said the evicted residents will be compensated upon presenting a documented...

Crédit du Maroc plans to invest 200 million dirham ($19.96 million at the current rate) in 2017 and 218 in its technological infrastructure. The information, which was disclosed in the note for the bond that the lender is issuing, indicates that 100 million dirham will be invested next year. A fourth of this sum will be used to develop the participative bank. 15 million dirham will be...

The Nigerian group Heirs Holdings owned by businessman Tony Elumelu signed two memoranda of understanding with Moroccan banks Attijariwafa and Banque Centrale Populaire. The MoUs were signed during an official visit of King Mohammed VI to his Nigerian counterpart Muhamadu Buhari. With Banque Centrale Populaire, Heirs Holding said it would work on financing, co-investment and information...