On January 19, the spokesperson to presidency, Alaa Youssef announced that Egypt’s government intended to list shares of a certain number of banks and state-owned companies on Cairo bourse. “The coming period will witness offerings of part of capital of successful Egyptian companies and banks on the bourse,” Mr. Youssef said at the close of a meeting between President Abdel Fattah and...

Nigerian National Petroleum Corporation (NNPC) has revealed that the oil pipelines that conveys crude oil to refineries in Niger Delta have been shut in, following attacks late last week. “We shut in the pipelines as a result of the weekend development, please note that this is different from shut down,” NNPC’s spokesman Ohi Alegbe said. The spokesman debunked reports that the refineries...

Eni on Wednesday revealed that this year, it will announce new development partners for Egypt’s Zohr discovery. According to Eni’s Executive Vice President of the Middle East, Fuad Krekshi, interest has been received from numerous companies to help develop the discovery but the company’s main concern at the moment was the completion of the development plan to be presented to the Egyptian...

The Algerian national group of port services and two Chinese firms signed on January 17, in Alger, a loan agreement worth $3.3 billion for the construction of a commercial port at El Hamdania, in the Cherchell region (about 50 km West of Alger). According to the terms of the agreement, the port will be built by an Algerian consortium comprised of public group for port services, China state...

Kenya Pipeline Company (KPC) has declared that it will conclude the oil supply project to Western Kenya in April 2016. The project (Line6) which is worth Sh6 billion was awarded to China Petroleum Pipeline Bureau in November 2014. It involves a 10” pipeline from Sinendet in Nakuru County to Kisumu in Kenya. The aim of this project is to add 360 thousand litres of oil per hour to the region...

« Three months ago we launched the KIFOR16 press conference in Brussels, and now we are only a few days before the Kinshasa International Forum in the DRC. This is a first edition that was born and we are pleased with the results to date, » says Christian Liongo President of Africa Rise, the organizational structure of the BtoB Forum KINFOR16 (26 and 27 January 2016 at the Beatrice...

South African Petroleum Industry Association (SAPIA), has revealed that its country is likely halt the importation of crude oil from Nigeria following the lifting of the sanctions imposed on Iran. “The re-emergence of Iranian crude oil provides options for those willing to buy from Iran. Iranian imports are likely to displace the Nigerian and Saudi Arabian crudes, since they seem to have...

Following attacks on pipelines during the weekend, the Nigerian National Petroleum Corporation (NNPC) has decided to cease crude oil flows to two refineries out of its four refineries. According to NNPC’s spokesman, Ohi Alegbe, the refineries in the northern city of Kaduna and Warri, in the southern Niger Delta, were affected. “We have shut down flows for now, the military are on top of the...

FAR on Tuesday, announced that the drilling has resumed on second appraisal well to be drilled on the SNE oil field, offshore Senegal. The SNE-3 well, situated about 3km south of the initial SNE-1 discovery well, is to be drilled in about 1,180m of water to a total vertical depth sub-sea of approximately 2,782m. It is expected to include an extensive evaluation program involving...

As the prices of oil continues to drop, global oil demand is to increase at a pace of 1.3% in 2016, compared to 1.7% in 2015 according to Ecobank. There is a possibility that key importers will continue importing for storage while demand support is also expected from some regions like the Middle East & North Africa, Sub Saharan Africa and Latin America. Oil demand globally has for the past...