South African Energy department on Friday, announced that the retail price of petrol will reduce by 1.5% while the price of wholesale diesel will go down by 4.4% from September 7. According to the department, the price of petrol will drop by 18 cents to 12.17 rand per litre, while diesel will reduce by 49 cents to 10.49 rand per litre, Reuters reports. July’s pump price for a litre of petrol...

Telecom Egypt, similarly to mobile telecom operators, is now able to provide 4G services to its users. Indeed, the state-owned firm has acquired the licence after signing the related contract at the Ministry of Information, communication and technology on August 31, 2016. The agreement was signed by ANRT’s CEO, Moustafa Abdel Wahed, and its counterpart from Telecom Egypt, Tamer Gad Allah, in...

Algeria’s Prime Minister, Abdelmalek Sellal, addressing the press on August 31, 2016, said the local economy was in no way endangered, despite continued oil price slump. “Some people believe that the Algerian economy will experience turmoil in the coming years but the truth is that we examined the situation and until 2019, Algeria’s foreign exchange reserves won’t fall below $100...

In South Africa, the Deputy Director-General of Petroleum and Petroleum product regulation, Tesliso Maqubela, has announced that the Department of Energy plans to initiate talks with the petroleum industry concerning the deregulation of liquid fuels. According to him, this will allow the market to set prices which would attract investment in upgrading South Africa’s refinery capacity in order...

Ivorian director for rural land, Constant Delbé Zirignon, revealed during a workshop on conflicts prevention in agro-industrial areas held on March 30, 2016 in Abidjan, that around 11,000 hectares of land had been awarded to the Prikro rubber company (CHP in French), subsidiary of the Belgian group SIAT (Société d’Investiseement poir l’agriculture tropicale). This was reported by news...

The Ivorian government approved by a decree of the ministers’ council of August 31, 2016, a $56.7 million (FCFA33.350 billion) loan agreement from the China import-export bank (China Exim Bank) signed on June 6, 2016. The loan will be used to develop a video surveillance protection platform for Abidjan. According to the statement from the council of ministers, “the ICT-based project...

In Kenya, the Commissioner for Petroleum, Martin Heya, has announced that Block 11B operator Adamantine Energy and its joint venture partner Bowleven will not be granted a licence extension. The commissioner did not disclose the reason but said the block is now unoccupied after the partners’ extension expired in June 2016 and will be put up for auction after the country advertises all vacant...

Eni has announced that it has successfully completed the drilling of the fifth well, Zohr 5x in the Zohr structure. According to the company, Zohr 5x was drilled to the final total depth of 4,350 m and confirmed the potential of the field at 30 Tcf OGIP. Located in 1,538 m of water depth and 12 km south west from the discovery well Zohr 1x, the well confirmed the presence of a carbonatic...

In Algeria, Abdelouahab Nouri, the Minister of Land Development, Tourism and Craftsmanship, on an inspection tour in the tourism expansion zones (ZET), complained about land grabbing which impaired the optimal implementation of the Parc des Grands Vents (Dounia Park) project in Algiers. The complex which was to become a recreation park with playing zones, green spaces and restaurants, has...

San Leon Energy Plc has announced that it has raised $221.4 million from the capital market to finance its procurement of a 9.72% indirect interest in Oil Mining Lease (OML) 18, onshore Nigeria. According to the company, OML 18’s estimated gross proved and probable reserves are around 576 million barrels of oil, about 4.2 Tcf of gas while its gross 2C contingent resources are around 203...