The Mozambican Ministry of Mineral Resources and Energy on Monday said that the approval for development of the project to extract and liquefy natural gas in Mozambique submitted by Eni will create 820 jobs. The plan, which was recently sanctioned by the government of Mozambique will be effected in 2016 by Eni East Africa. The project is to be situated in Area 4 of the Rovuma basin and first...

Aiming to improve the quality of its cattle species, Cote d’Ivoire plans to crossbreed them with French species. Ivorian minister of livestock and fisheries, Adjoumani Kouassi Kobénan, made the announcement at the Agricultural International Tradefair (SIA) which is currently taking place in Paris, France. “We appreciate the progress that has been made in France.What attracted us to this...

The Quai d’Orsay cooperation agency in charge of supporting Southern media, CFI, launched a call to applications to recruit eight African directors and train them to TV series production. Entitled “Réalise-toi!” (Make it yourself!) is co-produced with Keewu, director of the series “C’est la vie”, which like most series, is not produced like cinema movies since shooting is done at...

Victoria Oil and Gas has announced that its revenues have increased as production from the Logbaba gas field in Cameroon commences. According to the company, earnings for November 2015 were $18.9 million from $11.6million in November 2014. Adjusted incomes were $9million from $1.7million the previous year. The quantity of gas sold by the company rose to 8.85 Mmcf/d from...

According to the Hurun Report, a China-based publication which provides a yearly ranking of world’s richest people, Beijing has overtaken New York as “billionaire capital of the world”. At the end of 2015, the Chinese capital counted 100 billionaires, thus beating New York by 5 people, the same source revealed. The number of ultra-rich people living in Beijing grew by 32 as compared to...

The Ivorian government has decided not to rely on the international debt market this year to finance its economy. Rather, the country plans to acquire the $2.1 billion it needs from WAEMU’s (West African Economic and Monetary Union) capital market, Reuters reported citing Abdourahmane Cisse, Ivorian Deputy Minister in charge of budget. Cote d’Ivoire’s decision was driven by the high...

The Nigerian Minister of state for Petroleum Resources, Emmanuel Kachikwu, on Monday said that that the days of $50 per barrel of oil is approaching. Kachikwu, noted that he is confident that the Organization of Petroleum Exporting Countries’ (OPEC) members will be able to arrive at a decision to freeze oil production to fight the low oil price. “The minister for energy in Qatar and...

The Nigerian National Petroleum Corporation (NNPC) has announced that it received four more cargoes of petroleum products to keep the country afloat. NNPC Group General Manager, Group Public Affairs Division, Ohi Alegbe, disclosed this in a statement in Abuja. The statement guarantees the public of adequate supply of petrol throughout the country. “The deliveries which amount to about 180...

Crude oil prices plunged on Friday as talks of a meeting by oil producers to freeze production did not assure traders that efforts were being made to reduce rising glut. The decline occurred after oil markets increased late on Thursday led strong U.S. gasoline demand and on hopes that OPEC members can manage supply. Hopes had been raised on talks of a meeting between OPEC-members Saudi Arabia,...

Angolan Vice-President Manuel Vicente, one of the probable successors to Angola’s presidency, has been directly implicated in a corruption investigation opened by the Portuguese justice into a magistrate, AFP said on February 25, citing a source close to the case. The magistrate, Orlando Figueira, 54, is accused of receiving a bribe to shelve an investigation involving Vicente, the same...