Puma Energy has announced that it has obtained a licence to operate as an Oil Marketing Company in Ghana. According to the Chief Operating Officer Christophe Zyde, the company has obtained a licence and essential authorization from the National Petroleum Authority to operate as an oil marketing company in the country. “Two weeks ago, we received approval from the NPA to change the name UBI to...

Afrox has announced that it has secured more multimillion-rand, multiyear supply contracts. According to the company, it had been granted a R60-million, three-year contract extension to supply bulk liquid nitrogen, compressed and special gases and welding consumables to an oil refinery in South Africa. It also acquired a R40-million, five-year contract extension for the supply of liquefied...

The British banking group Barclays has confirmed today March 1st that it will exit African market. “We will sell down our 62 percent stake in Barclays Africa Group Ltd over the next two to three years to a level that allows us to deconsolidate the unit,” the lender said in a statement. Barclays added that selling its shares in the bank, which resulted from the merger between Absa Group...

SacOil has entered into a deal have a direct line of site of activities in the Block III, Albertine Graben prospect in the Democratic Republic of Congo. The company, has an indirect participating interest in Block III, Albertine Graben which is currently held by its subsidiary Semliki Energy. Sacoil through the contract will now have its own interest in Block III directly as well as have direct...

Sasol has granted SNC-Lavalin four projects in South Africa, Engineering news reports. The first three contracts would be performed at Sasol’s Secunda plant. The scope of works for the first project includes engineering, procurement and construction modifications for the Dorr Oliver filters and their respective auxiliaries at Sasol Synfuels’ Coal Processing West Plant. Work on the project...

The Organization of Petroleum Exporting Countries (OPEC) is not likely to slash production at its forthcoming meeting in June, even though prices continues to fall, OPEC sources and delegates revealed. According to the sources, which consist of officials from the Middle East, stated that OPEC members such as Saudi Arabia is also planning to test Russia's pledge to freeze production before it...

Turkish Karadeniz Elektrik Üretim AS plans to provide, through its floating units, 110MW of power to Northern Mozambique and Zambia. The ship which is to supply the energy is moored at the Nacala harbor in Mozambique since February 18 and should deliver its first kilowatts in March 2016. According to the agreement signed by both governments and the power provider, the ship should remain moored...

From March 3 to March 5, 2016, Dakar will host the first African Halal Business Forum. According to the Senegalese Ministry of Trade which co-organizes the event with various Islamic financial institutions, the event “will gather businessmen and investors from Arab and Asiatic countries, members of the OIC (Organization of the Islamic) and allow them to meet economic operators of the sub-region...

Gold mining company Hummingbird Resources has extended its $15 million bridge loan with Taurus Mining Finance Fund for the Yanfolia gold project in Mali. A bridge loan is a type of gap financing arrangement wherein the borrower can get access to short-term loans for meeting short-term liquidity requirements. In the present case, the transaction allows both parties to work toward a fully...

Morocco and Germany signed an agreement whereby Germany is to grant €400 million for the construction of the Midelt wind farm. With a production capacity of 150 MW, the plant is located South-East of Rabat. It will have 50 to 60 wind turbines and cost €245 million for its implementation. A consortium comprised of the Italian firm Enel, Moroccan Nareva and German Siemens will...