To conserve biodiversity and enhance socio-economic growth, governments of sub-Saharan Africa must consider a priority the management of their land resources, said environmental experts at the end of the 10th meeting of ministers of natural resources of East and Southern countries in Kigali on November 21 and 22. “The two-day ministerial conference provided a platform for engagement among...

State-owned Ethiopian Sugar Corporation should soon sell its 75% stake in the Beles sugar project, to Turkish company Bedisa Group, for $1 billion. Agreements related to the transaction should be signed by the end of the year, according to Binai Boran, Bedisa’s President. Located in the Amhara region, the Beles sugar project will require a $1.4 investment and will be developed in...

The Chairperson of the Libyan National Oil Corporation (NOC), Mustafa Sanallah (photo), has revealed that Libya’s oil production fell almost by 70 thousand barrels per day (bpd) due to electric and power issues. Sanallah had recently announced that an explosion, believed to be caused by an electric issue, occurred at the control room of the Laheeb oil field on Tuesday. According to Sanallah,...

South Sudan lawmakers have suggested that the country’s oil production be stopped as a result of the unsuitable financial assistance being offered to Sudan. The lawmakers on South Sudan’s Parliamentary Committee for Finance, during the debate on the 2016/2017 financial budget, revealed that Sudan is taking the large part of oil revenue and South Sudan must re-think continuing...

The China National Petroleum Corporation (CNPC) has announced that it is considering investing in construction facilities for natural gas exploration and processing in Mozambique. According to the director of the group’s international department, Wang Hongtao, the investment, which will bring about the fulfilment of a memorandum signed between CNPC and the Mozambican state company Empresa...

Lekoil Ltd has announced that its wholly owned subsidiary, Mayfair Assets and Trust Limited, has received ministerial consent for its farm-in of a 17.14% economic interest in the OPL 310 licence in Nigeria. Let’s be reminded that in February 2013, Mayfair farmed into Afren Oil & Gas’ interest in OPL 310 for a 17.14% participating interest and 30% economic interest. In July 2015, Afren Plc,...

ExxonMobil Exploration and Production Liberia, an affiliate of ExxonMobil, on Wednesday announced that it has commenced the drilling of its first well, the Mesurado-1, off the coast of Liberia. The company is working on developing the Mesurado-1 exploration well together with joint venture partner, Canadian Overseas Petroleum Ltd using the Seadrill’s 2014-built drillship West Saturn. This...

West-Africa-focused Eland Oil and Gas on Wednesday announced that it has completely tested the Opuama-3 well, which was worked over in April this year and intends to fast-track plans to reduce the usage of pipelines for its Nigerian crude exports. According to the company, the well has been flow tested at several choke sizes to create the best efficiency rate for production. The well has achieve...

African Petroleum on Wednesday announced that the production sharing contracts for blocks LB-08 and LB-09 in Liberia, have expired and will not be extended. The PSCs expired in June 2016 and ever since then, African Petroleum had been in talks with relevant Liberian authorities concerning the possible adjustment of terms and extension of these blocks so as to allow the Company have more time to...

Sonatrach and Cepsa have entered into an agreement to extend their partnership contracts for the Rhourde El Krouf and Ourhoud oil fields in Algeria, the state energy company said. According to Sonatrach in a statement, the North African country has announced plans to increase oil and gas production after its unproductivity in recent years because of a lack of foreign investment. Under the deal,...