The Minister of State for Petroleum Resources, Dr. Emmanuel Kachikwu, on Tuesday revealed that there are strong signs that the United States will soon continue the purchase of Nigeria’s crude oil, Leadership News reports. He stated that although the country had been diversifying into the Asian market and other parts of the world, the federal government is currently in negotiation with the...

Israel’s partners in the Leviathan Gas Field, are on the point of signing a $30b deal with BG for the export of gas to Egypt. According to sources, the deal is to be entered into before the purchase of Shell by BG in late January. The companies had in June 2014 signed a letter of intent to export 105 billion cubic meters of gas for 15 years from the Leviathan field to BG’s LNG facility...

Commissioning for the first stage of the Noor I project in Morocco, biggest solar plant worldwide, has been postponed. The agency responsible for the communication of the project gave no explanation as to why it was postponed. No ulterior date was given for the commissioning.   With a capacity of 160 MW, Noor I should prevent the emission of 240, 000 CO2 per year. For a cost of more...

In Tunisia, the Hachicha family group which operates in various sectors including household appliance, chemicals, and plastics, just added an animal feed firm to its agro food division. Named Société Alfet El Machia or SAEM, this new company has a capital of one million euro and will produce feed compounds for livestock and poultry, Kapitalis reveals. The website added that it is the third...

Viber, Skype, WhatsApp, or Imo could cease being as freely accessible as they currently are in Senegal. The country’s telecom regulator (ARTP) has in fact decided to review the impact that VoIP applications have on telecom operators. Seyni Fati, director of ARTP’s economy and markets made the announcement on November 19, 2015 during the training & information seminar that the telecom...

The UNDP 2015 Global Human Development Index shows that 3 out the 54 African nations fall under the “high humandevelopment” category. These are: Mauritius, Seychelles, and Algeria. Under the Medium Development category, out of the 14 African countries listed, there are countries such as Tunisia (5th), Gabon (8), Morocco (11) and Congo (13). Among the least developed countries, the shock...

The Government of Kenya has signed a long-term contract with the Norwegian Government for the development of the local oil sector, the Star News reports Under the contract, Norway is to assist the country in improving the management of its natural resources and also protect the environment through the Oil for Development programme. “The objective is for the oil and gas resources to benefit...

In Nigeria, the Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, has announced that, the country will remain an importer of petrol in 2016 and beyond. This he declared on Sunday at a Press Conference which took place just after a tour of the Kaduna Refining and Petrochemicals Company. “The future is that, Nigeria is still going to import fuel in 2016 and beyond. Until we...

The Minister of State for Petroleum Resources has announced that the Federal Government will reduce the pump price of Petrol to N85 per litre from January 1, 2016. Emmanuel Kachikwu who also doubles as the Group Managing Director of NNPC, disclosed this on Friday at the Port Harcourt Refinery Company (PHRC), where he was examining the plant. He stated that he sanctioned the new price for...

The Organization of Petroleum Exporting Countries, has said that the real price of a barrel of oil will not be $100 until after 2040, Business Insider reports. The group stated that oil companies' expenditure cuts, which was planned for 2016 will restrict supply in the medium term, increasing the price gradually even though demand stays low. However, in nominal terms oil is to increase...