Mining company Petra Diamonds scaled up its previous output forecast to 3.65 million carat from 3.3-3.4 million carat. The new estimate is due to the integration of Kimberley assets acquired at the beginning of the year from De Beers Consolidated Mines, through a consortium with Ekapa Mining. The firm affirmed that talks regarding joint-venture with Ekapa, at Kimberley, are going well and...

For the fourth time consecutively, Barclays’ earnings in Africa decreased, in the first quarter of 2°16, Ecofin noticed after reading its financial results for the period. With £818 million ($1.19 billion), operation banking products fell by 9.91% from £908 million ($1.32 billion) in Q1 2015. Barclays’ global net banking product in the regions also slumped by 13.4% to £707 million...

Japanese group, Canon Inc, which specializes in the production and commercialization of imaging and reprographic equipment, and electronic accessories, of medical use knowingly, plans to open an office in Africa, Egypt, South Africa, Morocco and Nigeria being the choices it considers. The news was reported by Egyptian media Amwal Al Ghad. Deputy director general of Sillicon 21, Ayman Ghad,...

Twentieth Century Fox lands in Africa though Nigeria and Ghana. The American studios just signed a distribution contract in both countries, namely with Nigerian firm FilmOne Distribution that has significantly expanded in West Africa. For Fox, this is the first partnership of the type in the region. According to the contract, FilmOne is to start distibution in Nigeria and Ghana starting from...

Eland Oil and Gas in its operational update on the Gbetiokun field in Nigeria revealed plans to speed up the Phase 1 of development and begin production by the end of this year. According to the Chief Executive of Eland, George Maxwell, following the success of the Opuama-3 re-entry well on licence OML 40, the company and its partners intend to start production afterwards through an Early...

The Government of Malawi has assumed control of fuel importation through the National Oil Company of Malawi (Nocma), the ministry revealed. According to the spokesperson for the Energy Department, Joseph Kalowekamo, Nocma will now be directed to import fuel following the revision of the energy policy by the government. “As of now, PIL (Petroleum Importers Limited) imports 90% of our fuel....

The deal to construct a pipeline to Tanzania's Tanga port has raised Uganda's hopes of commencing the production of crude oil by 2018, a government official revealed. The spokesman for the Energy Ministry, Bukenya Matovu, has said that the agreement was to construct a pipeline through Tanzania was arrived at during the weekend after months of uncertainty as to which route to direct the...

In Ghana the Minister for Petroleum, Emmanuel Armah-Kofi Buah, has announced that the country will receive the third Floating Production Storage and Offloading (FPSO) vessel for the Offshore Cape Three Point Sankofa development by early 2017. According to him, the second FPSO for the Tweneboa-Enyera-Ntomme (TEN) development has already been received in the country and probably, a fourth will be...

The Nigerian Minister of State for Petroleum Resources, Emmanuel Kachikwu, has revealed that more than 30% of petrol being dispatched to Lagos are being diverted to neighboring countries, like Chad and Cameroon. According to the Minister, 400 trucks laden with petrol from the Nigerian National Petroleum Corporation (NNPC) were sent to Lagos but only 250 discharged their contents. He stated...

South Africa is preparing for its a difficult harvest this year, the smallest since 2006. This was revealed by the Crop Estimates Committee which said farmers planted 0.1% less corn crops than last year. Due to the devastating El Niño phenomenon, South Africa may reap 7.05 million metric tons of corn this season, less than the committee’s 7.07 million-ton forecast last month and than the...