Spectrum ASA a company focused on delivering high-quality Multi-Client seismic data and holds the world’s largest 2D offshore library has entered into a Multi-client master co-operation agreement with the federal government of Somalia. The agreement which was signed during a signing ceremony on the 5th of September at the SYL Hotel, Mogadishu, allows Spectrum to acquire approximately 28,000 km...

Sasol an Energy and chemicals group has reported a 17% drop in earnings to R49.76/share in the year to June 30, 2015, with a solid operational performance offset by a sharp weakening in market conditions, including a year-on-year oil price decline of 33%. The company’s departing CEO David Constable specified that the group expected oil prices to remain low until the end of the 2017 calendar...

Sound Oil, the European and Mediterranean focused exploration and production company, listed on AIM with a cornerstone investor and strong liquidity, has entered into an agreement with Maghreb Petroleum Exploration in which Maghreb has presented Sound Oil a two month period of exclusivity to negotiate and complete the acquisition of a subsidiary of Maghreb which holds a 25% carried working...

Sahara Group, a Nigerian energy company which trades crude oil and owns Nigeria’s largest power plant, has made known its plans to raise as much as $1.4 billion through a dual listing of its oil and gas unit in London and Lagos along with a debut dollar bond sale. The Lagos-based Sahara’s Executive Director Tonye Cole, says the company needs the money to buy oil blocs in Africa’s...

Libya Oil Ethiopia Limited, a subsidiary of the Libya Oil Holdings Ltd, plans to expand its investment and business in Ethiopia. The decision was made during a week-long meeting of the corporate management of the Dubai-based Libya Oil Holdings two weeks ago which was attended by eighteen country managers from different African countries. The management made an assessment on Ethiopia's economic...

The Cameroonian and Chinese governments recently signed an agreement for the financing of a digital interconnection project for the state universities, for an amount of FCfa 75 billion. The information was revealed by the Minister for Higher Education, Jacques Fame Ndongo, to the management of Chinese company Sichuang Communication Telecom Construction Company. Zhao Dhezi, the head of the...

With 25.6% of votes during the regional elections, the Islamist party of Prime Minister Abdelilah Benkirane (photo) appears to be the winner of the regional and municipal elections in Morocco. The Justice and Development Party (Parti de la Justice et du Développement – PJD), in power since 2011, thus maintained its seats and seems to have strengthened its hold on the Moroccan political life....

Korongo Airlines, subsidiary of Belgian company Brussels Airlines, has decided to cease its activities, due to low profitability and high competition.  The announcement was made by the shareholders of the company, launched in 2012 by Brussels Airlines and Belgian businessman Georges Forrest, after an extraordinary general meeting of shareholders held on 4th September in Lubumbashi. “The...

Vincent Bolloré had already fully entered the media sector in Africa thanks to his majority shares in French group Vivendi, owner of Canal+. Today, he is at the head of both the parent company and the subsidiary. On 3rd September 2015, Vincent Bolloré thus assumed the chairmanship of the Supervisory Board of Canal+ group. The company has made Africa its priority market. In 2 years, the TV...

Tantalus Rare Earths AG, German company with assets on a rare earths project in North-East Madagascar, revealed on 4th September going through a difficult financial situation, in connection with the mobilisation of resources for this project. It attributed this situation to the default of one investor who acquired an important number of shares, 750,000 new shares for 6 million Euros, and who...