The European Union recently announced it was not going to revise the agreement on Moroccan tomato import. According to Europa Press, Phil Hogan, the commissioner for agriculture and rural development said: “We have no plans to revise the agreement with Morocco concerning tomatoes and other products”. He added that “the agreement needed no systematic 5-year revision”. The announcement...

The President of U.S, Barack Obama, proposed a $200 million budget to fight Islamic State in Africa, Reuters reported on February 9 citing high officials from the White House. “The marginal increase is on the order of about $200 million associated with North Africa,” an US defense official told Reuters on condition of anonymity. Another official from the ministry however said the...

In Equatorial Guinea, the Ministry of Mines, Industry and Energy has revealed that Riaba Fertilizers Ltd has granted a Chinese delegation headed by East China Engineering Science and Technology Co. Ltd (ECEC), the EPC contract for a new petrochemicals complex. The delegation was granted the contract at the holding company’s headquarters in Beijing, China. Riaba Fertilizers Ltd. was integrated...

For its first semester which ended on December 31, 2015, Mauritian insurer Mauritian Eagle generated a turnover of 585.3 million Mauritian rupees ($16.4 million), almost the same as the turnover generated the previous year over the same period. Net result of the firm’s insurance segment on the same trend had a margin of 36 million rupees (1000 rupees=$28). During the quarter, the firm’s...

Emas AMC has awarded Rana a diving services contract for the installation and hook up of the new floating, storage and offloading (FSO) vessel Gaza, offshore Libya. The vessel is to replace the FSO Sloug at Bouri Field, offshore Libya. The Bouri field is part of Block NC 41. It is situated 120 km from the Libyan coastline in the Mediterranean Sea in a water depth of 158 m. The field contains a...

The prices of crude oil on Wednesday near $31 per barrel after four days of deteriorations, buoyed by the possibility of a partnership between the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers to confront the oversupply situation in the market. Iran's oil minister, Bijan Zangeneh (photo) today revealed that his country is prepared to discuss with Saudi...

As the prices of crude oil in the global market continues to fluctuate, Tullow oil has decided to concentrate on seismic surveys, processing and interpretation, high-grading and progressing potential leads to drillable prospects. The Africa focused company’s financial result for 2015, revealed that revenue fell by 27 % to $1.6 billion as its operating cash flow also fell by 38 %...

In Tunisia, the new investment code allows foreign companies to freely transfer their foreign currency profits and assets and plans for numerous tax and financial advantages for companies operating in primary sectors or in the less favoured regions of the country, official press agency TAP reported. The new code sets a clear regulation regarding transfer of profits and assets of foreign...

Following attacks on pipelines that forced the closure in January, Nigeria's refineries are expected to resume operations before the end of February. The Nigerian National Petroleum Corporation (NNPC), stopped the flow of crude oil to the refineries after the attack on major pipelines feeding the plants in mid-January. The refineries were then closed afterwards. According to the state oil...

Ghana forecasts for 2016, an economic growth of 5.4% against 4.1% in 2015, said Minister of Finances, Seth Terkper, on February 9. Addressing a press conference, Terkper added that Ghanaian authorities intended to lower the inflation rate to 10% this year against 17.7% the previous year. Moreover, he added that Ghana could revise its budget for the year due to oil prices being lower than...