African News

US Exim Bank allocates $91m to rural electrification in Senegal

Apr 2, 2020

The Export-Import Bank of the United States has just approved a loan financing guarantee of $ 91.5 million to facilitate rural electrification in Senegal. These funds will facilitate the export of American engineering and construction services in the rural electrification sector. This transaction will provide energy to approximately 330,000 Senegalese residents in more than 415…

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Zambia’s Energy Minister warns Copperbelt Energy Corporation over sabotage

Apr 2, 2020

Uncertainty still surrounds the Bulk Power Supply Agreement between Zesco and the Copperbelt Energy Corporation after its expiry yesterday, but Energy Minister Matthew Nkhuwa assured clients, particularly mining firms, of sustained supplies. The 27-year agreement expired last midnight, with Mr Nkhuwa warning at a Press briefing in Lusaka yesterday that any termination in power supply…

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United Oil and Gas announces operational and corporate update on Egypt, others

Apr 2, 2020

AIM-listed United Oil & Gas has provided an operational and corporate update to shareholders including the commencement of gas production at the Al Jahraa field in the Company’s 22%-owned Abu Sennan concession, onshore Egypt, and measures taken in response to the COVID-19 pandemic and ongoing oil-price volatility. Overview Egypt Update Completion of low capital expenditure gas pipeline project at Al…

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Russia and UNDP finance water and electricity in Madagascar

Apr 2, 2020

Madagascar has recently received $4 million (around 14.9 billion Madagascan Ariarys) in funding from the Trust Fund for Development (TFD), as part of a partnership between the Russian Federation and the United Nations Development Programme (UNDP). The money will be used to implement water and electricity projects in three regions in the far south of…

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Morocco drilling on-hold for partners – Predator Oil & Gas

Apr 2, 2020

Predator Oil & Gas provided an update in light of the ongoing worldwide situation with regard to the Coronavirus. The rig earmarked for drilling the company’s Guercif prospect in Morocco is stacked in a secure yard at SDX Energy, de-manned but ready to be reactivated for use by Predator with very basic routine maintenance when…

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Coronavirus slashes Tanzania’s oil pump prices

Apr 2, 2020

THE country’s pump oil price has dropped to a four-month low thanks to slumping global market prices driven by coronavirus pandemic. The retail prices for petrol, diesel and kerosene dropped between 2.0 and 10 per cent for consignment passing through Dar es Salaam and Tanga ports. However, the prices for the consignment passing through Mtwara…

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PGS completes acquisition on Kwanza Shelf and releases fast-track data

Apr 2, 2020

Marine geophysical company PGS has announced the completion of acquisition on its MC3D Kwanza Shelf survey offshore Angola. Total GeoStreamer coverage in Blocks 6, 7 and 8 and the surrounding areas of the Kwanza Shelf is now 8,300 sq kms. This MC3D Kwanza Shelf survey complements earlier PGS acquisition, carried out in 2019. Fast-Track Data…

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IPPs set to challenge Eskom’s force majeure on wind farms

Apr 2, 2020

Eskom is proposing to curtail operational wind farms citing reduced demand in relation to COVID-19, claiming force majeure. This is despite government issuing an official notice on 25 March 2020, classifying electricity production, supply and maintenance as essential services. South African Wind Energy Association (SAWEA) says Eskom’s proposal comes as a surprise to the 22…

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Cameroon seeks €300m loan from Afreximbank for the import of petroleum products

Apr 1, 2020

The National Refining Company (Sonara), the only refinery in Cameroon, should soon benefit from a financial infusion intended for the importation of petroleum products into the country. So decided the President of the Republic of Cameroon. In a correspondence signed on March 25, the Secretary General of the Presidency of the Republic, Ferdinand Ngoh Ngoh,…

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Sound Energy announces update re Tendrara Gas Sales Agreement MOU in Morocco

Apr 1, 2020

Sound Energy announced on 30 October 2019 that it had, in relation to ongoing negotiations in respect of a Gas Sales Agreement for the sale of natural gas production in the Tendrara concession in Eastern Morocco (the ‘GSA’), entered into a binding memorandum of understanding with Morocco’s Office National de l’Electricite et de l’Eau Potable…

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