Tullow Oil has revealed that it will no choice than to reduce its production outlook due to a technical failure that has resulted to a long shutdown at its Jubilee oilfield in Ghana. According the company, the failure of the turret bearing signifies that the planned maintenance shutdown will last for additional two weeks and production flows will take even more time to ramp up as it is now using...

Nigeria will receive $200 million in from oil companies in order to pay for fuel imports and ease the fuel scarcity situation in the country, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) revealed. The country which relies on import to feed its fuel needs, is currently suffering from the shortage of hard currency as a result of the decline in oil...

In Mauritius, many executives just had their mailboxes hacked. Among those affected is Mauritius Telecom’s director general, Sherry Singh. Mauritian newspaper l’express who made the announcement indicates that the company found out the break-in on April 1, 2016. The hackers took over Sherry Singh’s email. Various mails were hence sent to his employees. A mail was later sent employees...

Investment Bank, Goldman Sachs has said that the oil production from Organization of the Petroleum Exporting Countries (OPEC) members, is to increase in 2016 and 2017 as the group will fail to arrive at a decision to cut or freeze production. According to the bank, OPEC’s production will increase by 600,000 bpd this year and 500,000 bpd in 2017, Business Times reports. “While recent...

In Mozambique, about 1.5 million people face food insecurity due to drought in Southern and Central parts of the country. Director of National Institute of Disaster Management, Joao Machatine specified that 1.3 million people are presently in need of food aid. It has been evaluated that taking care of drought victims, a month, would cost US$13 million. “Weneed to develop a response plan...

In Cote d’Ivoire, regions and municipalities have 78 radio stations. Since December 2014, these media are gathered under the 3RC. It is an organization which officially launched its activities on April 5, 2016 with the appointment of its members. The network will start by assessing the needs and challenges that radios in Ivoirians regions and municipalities face. A sure thing is that quality...

Central Bank of Kenya announced in a statement published on April 7 it has placed Chase Bank Ltd under receivership for a year to protect its creditors, depositors and all its clients. “Chase Bank Ltd experienced cash flow difficulties following inaccurate social media reports and the stepping aside of two of its directors. The bank was not able to meet its financial obligations on April 6,...

French hotel chain Louvre Hotels Group plans to open 16 new hotels in Sub Saharan Africa (SSA) in 2016, Hospitality On reported on April 6, citing an executive from the group. “Our goal is to be able to accompany our clients wherever they might go in Africa, by giving them the quality corresponding to their needs,” said the group’s president for Francophone and Eastern Africa, Alain...

In Nigeria, the tomato-processing industry is currently facing a paradox, according to actors from the sector. Truly, while local production could satisfy market needs, the country still injects N12 billion per year in tomato imports. These imports lead to the wasting of about 750,000 tons of the commodity, yearly, due to challenges in stocking, industries’ supply chain and unstable prices....

In South Africa, the railway which is to connect the Majuba coal-fired plant to a coal mine will be completed in 2017. Eskom, South Africa’s state-owned power supply company, made the announcement. The 68km-long corridor will be the first major rail freight project, launched in country since 1986, according to Eskom. Construction of the Majuba coal-fired plant started in 1983 and ended in...