Africa Archives - Page 2 of 3

14th July 2020

Nigeria: FG Encouraged to Completely Halt Fuel Subsidy

The latest figures released in the Monthly Financial and Operations March 2020 report shows fuel subsidy cost the nation 101.6 billion Naira from January - March 2020. The country spent...

14th July 2020

IMF Make Lowest Economic Projection in over 50 years for the Middle East and North Africa

According to World Bank data, the latest projection by the International Monetary Fund (IMF) on the Middle East and North Africa is the lowest in over 50 years. The IMF,...

14th July 2020

Mozambique: Total secures $15.8 billion from First National Bank Mozambique for LNG Project

Arguably one of the biggest foreign Energy presence in Africa, French giant, Total, has secured $15.8 billion funding from South African lender FirstRand's local unit, First National Bank (FNB) Mozambique...

13th July 2020

Angola: The ESEEP is set for 60% Electrification by 2025

The government of Angola is stepping up efforts to ensure 60% electrification by 2025. The Energy Sector Efficiency and Expansion Program (ESEEP) will create an interconnected national grid supplying north,...

10th July 2020

IFC Provides COVID-19 Relief to Mauritania through Addax Energy

The International Finance Corporation (IFC) is set to provide $35 million as part of a $200 million credit facility arranged by Societe Generale to aid Addax Energy SA in delivering...

26th June 2020

Total and Sonatrach Algeria Extend LNG Supply Deal By 3 Years

Total and Algeria's National oil company, Sonatrach, have agreed to extend their Liquefied Natural Gas (LNG) deal by additional three years. Commenting on the new development in a release on...

2nd June 2020

Angola is Renegotiating Terms With Lenders – President João Manuel

Angola is reportedly renegotiating with its key lenders to reschedule its debt payments, after an interruption of about three months due to the COVID-19 pandemic and the global drop in...

29th May 2020

Ghana Encouraged to Diversify and Focus on Other Sectors

The effect of the COVID-19 pandemic on the global oil sector, which has led to a fall in oil prices, is allowing Ghana an opportunity to re-strategize from its dependence...

28th May 2020

Recent Purchase in Asia Indicates Demand for Oil is Gradually on the Rise

According to reports, crude oil buyers in Asia are purchasing distressed cargoes of oil from Africa to the Middle East. This is a sign that the oil market is gradually...

23rd May 2020

The Restart of ‘Libya’s Global Oil Boom’ Still Uncertain

With 46.6 billion barrels as at a decade ago, oil reserves in Libya were the largest in Africa and among the ten largest in the world. A production rate of...