“Morocco and China are about to finalize a number of agreements, strategic, economic, commercial, investment, bilateral and regional, directed toward Africa,” Xinhua reported. Few days ago, during the Arab Gulf Cooperation Council, King Mohamed VI of Morocco mentioned the upcoming signing of a strategic agreement with China, without however indicating the regional target. Talks between the...

In its most recent report released in March 2016, OPEP said Africa’s top oil producer, since April 6, 2016, started a visit to IMF seeking for funding for its economic policy. Amid global oil slump that started in 2015, Angola increased its production from 1.607 M bpd to 1.722 M bpd between February and March 2016. However, this is enough to end the severe crisis that the country experiences....

The United Arab Emirates just granted Egypt a $4 billion aid, Egyptian media revealed. Half of the fund will be used as direct investments while the second half will be deposited at Central Bank to support the country’s foreign exchange reserves. Cheikg Mohammed bin Zayev al-Nahyan, Abu Dabi’s Crown prince said the grant is proof of his country’s support to Egypt. Tarek Fayed,...

In Nigeria, the telecom operators association, ATCON, pleaded for the reduction of the $3.9 billion fine imposed MTN for failing to deactivate unregistered SIM cards. The group which regroups Airtel, Glo, Etisalat, through its president, Lanre Ajayi, demanded that the fine is reduced to an amount not above the firm’s annual profit. ATCON says it has learnt its lesson from the crisis that...

Miner Sierra Rutile completed construction of its new dry mine at Gangama and now plans to commence commercial production this quarter. “The completion of the construction phase of Gangama represents a significant d’e-risking step as the project nears commercial production,” said chief executive, John Sisay. The firm has also announced it has restarted rutile sales in the titanium...

Morocco was the one to profit most from the crisis between Russia and Turkey, following the taking down of a Russian military aircraft by Turk army in 2015. Truly, due to the embargo on imports of Turk food products, the Cherifian kingdom was able to gain more markets shares. According to a report from RBK, Morocco is now Moscow’s biggest tomato and orange supplier. The kingdom’s market...

  In Madagascar, Sterling Energy and Pura Vida are currently deliberating on whether to forge ahead with the Phase 3 of their prospects on Ambilobe Block as the Phase 2 of the Ambilobe PSC will expire in July 2016. The JV partners had received both Ministerial and Presidential approval in October 2014 to prolong the current phase of both the Ampasindava and Ambilobe PSCs to July...

The Chief Executive Officer of Nigeria LNG Limited, Babs Omotowa (photo), has revealed that Nigeria needs new investment otherwise the country will lose her current 4th position as world’s largest exporter of LNG to 10th position by 2020. According to Omotowa, NLNG raised Nigeria to the 4th exporter of LNG in the world, after Qatar, Malaysia and Australia and had earned $90 billion in...

In Libya, the Eastern Tripoli government has exported its first cargo of crude oil ever since the country was divided into two independently governed regions in late 2014. The vessel Distya Ameya, was laden with 650,000 BO produced from the Messla and Sarir oil fields at Hariga port, Omran al-Zwai in the east and was bought by UAE- based DSA Consultancy FZC, en route to Malta. The National Oil...

In Egypt, Energean Oil & Gas has announced the conclusion of a new 2D seismic survey over the West Baliana interior rift basin North West of the Komombo-Block 3 concession area. The survey which took 3 months was carried out by Africa Geophysical Services. The company secured an overall 389 km of 2D seismic data, summing up the total coverage on the block to 2,000 km. This survey was...