Cairn Energy in its operational update on Thursday, announced that operations on the SNE-4 appraisal well offshore Senegal has been successfully completed after drilling, coring and logging. According to the company, the well is currently being plugged and abandoned. Initial results on the well confirm the presence of oil bearing upper reservoir sands of comparable quality to those stumbled upon...

Nigeria’s plan to export around 800,000 bpd of Bonny Light and Qua Iboe grade this month and in June, have been hindered by the damages to Shell's Trans Forcados pipeline, Chevron and Exxon Mobile export line. The country, have postponed close to seven Escravos cargoes programmed to load in May and June this year. Exxon Mobil is currently witnessing a decrease in its production of Qua Iboe,...

The Egyptian Natural Gas Holding Company (EGAS) has signed a Memorandum of Understanding to hire a gasification ship with a capacity of 500 Mmcf/d from Jordan. According to an official at EGAS, Egypt since 2015 ending booked 200 Mmcf of gas from the full capacity of the gasification ship in Jordan. The country plans to host the gas in a private port managed by SUMED in Ain Sokhna in 2017. EGAS...

French software provider Linedata, specialized in financial assets management software, said in a statement published on May 17, it will open a subsidiary in Casablanca, Morocco, to better serve Maghreb and Sub Saharan Africa. “Linedata thus accelerates its entry into Northern African markets and Sub Saharan Africa as well. By setting shop n Casablanca, Linedata strengthen the relationship it...

In the Northern region of Burkina Faso, 40,000 households now have access to electricity in the form of solar energy. This results from the MICRESOL (Microcrédit solaire et changement d’échelle) program which was being implemented in Burkina Faso since 2011 to 2016. “The planning program aimed to electrify ten communities however we now powered 41 communities and around forty thousands...

The government of Senegal will invest FCFA32 billion in the 2016-17 agricultural season. This was announced by Seydou Guèye, spokesperson of government, at the end of an inter-ministerial meeting dedicated to a review of the 2015-16 agricultural season. The government also said it would provide farmers with 20,000 harnessed units, 2,000 tractors and 75,000 tons of seedlings. Officials intend...

In Mali, cotton will be sold at FCFA250 per kg this season (2016-17). This is FCFA13 more than in the previous season. The increase in price to producer translates the country’s will to boost production which was at 513,553 tons last season and was deemed disappointing by observers. Mali which aims to produce 650,000 tons of cotton this season, intends to keep up the trend by adding 150,000...

Senegal plans to raise between $500 million and $1 billion on international markets in 2016 to finance development of infrastructures and accelerate the growth of its economy, President Macky Sall said in an interview published on May 17 by Bloomberg. “This year, we will surely go on international markets,” he said highlighting that the money will be raised through the issuance of...

The British insurance network Lloyd’s plans to open shop in Morocco and Tanzania as it intends to expand its business across Africa, reported Moroccan newspaper L’Economiste citing one of the group’s officials. “We are studying with the Casablanca Finance City a possibility to enter the market physically. From there we would have the chance to explore the whole of Africa,” Vincent...

Toronto-listed Canadian firm Kombat Copper has completed a non-brokered private placement financing comprising 11,067,500 units at $0.08 per for a total of $885,400. Each unit comprises one common share in the capital of the firm and one warrant which entitle the holder to acuire one Share (Warrant share) at a price of $0.13 three years after it was used. The firm added that the...