Dana Gas has announced plans to review its 2017 investment plans for Egypt if the country does not pay its debt by the end of 2016, its chief executive revealed on Wednesday. According to Patrick Allman-Ward (photo), the payments issue is overriding several exploration developments in Egypt, for the company. United Arab Emirates-based energy firm said its North El Arish Concession/Block 6 in...

Ségolène Royal, French Minister for the Environment, airing on RTL today said that Donald Trump did not have the power to write off the Paris climate-change agreement. “Even if he is elected, Donald Trump cannot prevent the implementation of the agreement,” she said some time before results of elections in the US declared Trump president. During his campaign, US’ new president said he...

On November 8, 2016, Kenya Commercial Bank has announced a pre-tax profit of Sh22.94 billion (US$226 million) for the first three quarters of 2016, up 18% compared to the same period in 2015. The lender which also operates in Uganda, Tanzania, Rwanda, Burundi and South Sudan, also said in a financial statement that net interest income from its Kenyan assets rose at a faster pace than in other...

In Togo, a conflict has emerged between government’s representatives and the people of Masouhoin, Atchanté, Klévé and Kélégouvi over 352 hectares of lands. The communities whose properties (totaling more than 900 ha) are declared for public use under the decree N°77-83 of March 29, 1977, claim their right to use the 352 hectares given them under the decree n°042/MUL/DGUH of April 5,...

Tanzania Telecommunications Company Limited (TTCL) signed a 10-year partnership agreement with Huawei. Under the agreement, the Chinese telecom equipment supplier will help the Tanzanian operator launch the 4.5G network in the country to innovate and grab the greater portion of the local telecom market and thus get ahead of its rivals. Commenting the strategic partnership which will help TTCL...

The formal sale process for the Lace diamond mine in South Africa announced last October was terminated. DiamondCorp which owns the mine said it will no more sell the mine adding that it would examine alternative means of enhancing shareholder value in the normal course of business. After encountering a number of setbacks last month which affected, negatively, its share price, and having...

Tullow Oil in its Trading Update for the period 27 July to 9 November 2016, announced that it expects the Joint Development Agreement (JDA) signed in October to set out a structure for the Kenyan Government and Joint Venture Partners in order to make headways with the development of the export pipeline expected to begin by year-end. This announcement comes as the company and its JV partners;...

Libya’s largest oil export terminal, Es Sider is expected to be re-opened by next week as renovation work is almost complete, a National Oil Corp. official revealed on Tuesday.According to the unnamed official, tankers may be able to load from the port for the first time since 2014. The Es Sider port has not exported crude since a force majeure, was declared on loadings almost two years...

All eyes are currently on the Dangote refinery, currently being constructed by Africa’s richest man, Aliko Dangote (photo), to drive refining capacity increase in Africa, by 2020. The Organization of Petroleum Exporting Countries (OPEC) in its 10th edition of its World Oil Outlook (WOO), said that the refinery, which is the first privately owned and operated refinery in Nigeria, will refine as...

Morocco and Senegal have reinforced their partnership in agriculture by signing yesterday agreements at a ceremony to which were present King Mohammed VI and Senegal’s President Macky Sall. The agreement according to Aziz Akhannouch, Morocco’s minister of agriculture is for a programme under which “Morocco is to provide Senegal its expertise and financial support so to develop its...