President Muhammadu Buhari’s has been put under a lot of pressure to cut expenditures in the face of falling oil prices. The amount of persistent expenditures is “a huge worry for a developing country like Nigeria,” Stanley Achonu, the head of operations at BudgIT, an organization that works to bring transparency to public spending, told Sweet crude in an interview. While the country can...

There has been heightening competition among gas producers in the Middle East and Africa over Egypt’s plan to keep all the natural gas produced at a giant field Eni SpA found off its Mediterranean coast to itself. Eni said recently that the deep-water deposit in the Zohr Prospect in the Shorouk block may hold 30 tcf of fuel, making it the biggest gas discovery in the Mediterranean Sea. “All...

The Shell Petroleum Development Company of Nigeria Ltd, SPDC-operated Joint Venture has lifted the force majeure on Bonny Light exports following the repair and re-opening of the Trans Niger Pipeline, (TNP) and Nembe Creek Trunkline, (NCTL).  The Company’s two key supply pipelines in Nigeria were closed due to leaks and sabotage. The closure of those export routes led to the company...

Cameroon has announced that it has awarded its Kribi deep-water port contract to a consortium led by French logistics group Necotrans. The aim of the contract is to allow for the import and export of raw materials such as timber and cotton as well as vehicles and service equipment for Cameroon's oil and gas sector. Meanwhile a contract for the Kribi container port was awarded to a Bollore-led...

Olam Rubber Gabon teams presented yesterday to President Ali Bongo the infrastructure put in place for the Woleu-Ntem populations. Apart from the dispensary inaugurated during the president’s visit, the company has built and refurbished 200 km of road. There is also a bridge of 120 m, housing for the employees of the Batouri plantation, over six hundred solar power public street lamps, 41...

Subscriptions to the new treasury bonds from the Burkina Faso government will start from 10 September, according to an invitation to tender notice published on the website UEMOA-Titres. In total, FCfa 30 billion will be requested for by the country, on the capital market of the West African Monetary Union. Since the beginning of the year, Burkina Faso has already resorted to this funding...

Israël, Italy and Senegal will launch a project from next January developing 70 agricultural sites located in the regions of Diourbel, Fatick and Thiès. At the end, the initiative should occupy some 4,000 Senegalese farmers, according to Paul Hirshson, Israëli representative to Senegal. “Work will start on the first of January. We have five months to finalise the choice of companies...

MTN Congo S.A., subsidiary of MTN Group, has the pleasure of announcing to their stakeholders (National Authorities, public and private, its valued customers as well as the different communities present in Congo) the appointment and assumption of duty of its new General Manager, Mr. Djibril OUATTARA

According to information reaching Ecofin Agency, everything is falling apart between the two Ivorian operators Comium-CI and GreeN. At the roots of the fall-out is a non-payment of FCfa 120 million which GreeN supposedly owes Comium-CI for interconnection. Since yesterday morning 9 a.m., Abidjan time, mobile operator Comium-CI has, without prior notice and unilaterally, shut down the Outgoing...

The volume of local processing of cocoa beans in Cameroon should exceed 100,000 tons in the short term, the Inter-Professional Cocoa-Coffee Council of Cameroon (Conseil Interprofessionnel du Cacao et du Cafe - CICC) announces. This corresponds to a threefold increase of the current capacity, since barely 33,000 tons of beans were officially milled during the 2014-2015 season. Several...