Angola’s state-owned company, Sonangol, on Tuesday revealed plans to put up 18 more offshore oil concessions for sale. This concessions includes six blocks in the Congo Basin (north) and another 12 in the Namibe Basin, south of the country. The Namibe Basin Maritime Zone encompasses an area of over 68,000 km² off the coast of Namibe province. It is considered to have high oil production...

Malawi is making effort to advance with upstream oil and gas development, as the country is currently suffering from power shortages, poor infrastructure, environmental concerns and an ongoing border clash with Tanzania. The country this year lifted a sanction placed on oil and gas drilling and has granted exploration licences to several international companies. SacOil, RAK Gas, Ghana’s...

Nigeria will have to increase his oil output by 900,000 barrels per day so as to regain the crude oil that has been shut in due to militant attacks on oil and gas installation in the Niger Delta, the Minister of State for Petroleum Resources, Emmanuel Kachikwu (photo), revealed. According to Kachikwu, the Federal Government is continuing talks with militants and their representatives in the...

Eni has invested $3.5 to 4 billion in accomplishing the Zohr natural gas production processing plant, at a capacity of 2.7billion cubic feet of gas per day, Minister of Petroleum and Mineral Resources, Tarek El-Molla, revealed. According to El-Molla, the overall investments in the Zohr gas field are estimated at $12bn pending the time production begins. After that investments will then...

Tullow Oil has revealed plans to transport Kenya’s first crude oil to Mombasa within the next few days. This is coming days after the government revealed plans to refine the country’s first crude oil at the Mombasa refinery. Tullow intends to perform an Early Oil Pilot Scheme (EOPS) whereby it will transport two trucks loaded with crude oil from the Amosing and Ngamia oil fields to the...

The Ghanaian energy market is presently eyed by various Chinese power developers. Among these Chinese firms is the solar panels manufacturers Halo International which plans to establish in the West African nation, a plant to produce its panels, this September. The plant which will have a production capacity of 20 MW per year will be located in Tema, 38km from Accra, the capital. “We can...

The government has numbered 13,000 fictitious public servants in its wage bill, which cost it a total of FCFA30bn or $50 million. This was announced by Mali’s Minister of Information Mountaga Tall. “After proceeding to a physical control of payments, the Minister of Public Service discovered 13,000 fictitious or irregular employees (…) if adequate measures are taken, about FCFA30...

Canadian plane manufacturer Bombardier will transfer part of its activities from Ireland to Morocco, The Belfast Telegraph reported on August 12. The Irish newspaper indicated that the firm decided to proceed to the transfer to cut production costs. “It is absolutely critical that we continue to transfer work packages in which we are no longer competitive so we can safeguard the long-term...

For some months now, South Africa has been experiencing an economic crisis characterized by a very high unemployment rate, scandals related with its President Jacob Zuma, strikes in the oil sector and the failure of the ruling party namely the African National Congress (ANC) party at the Municipal Elections. The economy however just recovered its position as Africa’s largest economic power,...

To advance its Yanfolila project in Mali, the mining firm Hummingbird raised $3.8 million through the private placement of 11.1 million new ordinary shares at 26p per share. Proceeds from the fundraising will be used to determine the development potential of additional resources available near the mine where works are ongoing for first production by the end of 2017. In terms of potential...