Streets in Zimbabwe capital empty following deadly fuel hike protests

Jan 17, 2019

Life has come to a standstill in the Zimbabwean capital after violent protests over the government’s announcement of a massive hike in fuel prices turned deadly. The streets of Harare were virtually empty Tuesday, with many businesses, banks and schools closed, after a call for a three-day strike by the Zimbabwe Congress of Trade Unions…

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Key African Central Banks to hold rates on CPI, oil prices

Jan 17, 2019

Africa’s key central banks are expected to hold benchmark interest rates at their first meetings of the year albeit for different reasons. While the drop in oil prices could give South African and Kenyan policy makers room to hold off on further rate increases, currency pressures could keep the central bank in Ghana from considering…

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Tullow prepares to drill 7 wells in Ghana

Jan 17, 2019

Tullow Oil is set to drill and complete seven wells on its two major fields off Ghana this year as it targets a ramp-up in production. The Anglo-Irish independent is also ready to bring online the second of two new producers drilled on the Tweneboa-Enyenra-Ntomme field last year in about a month. The seven fresh…

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Bad weather forces Libyan ports to shut

Jan 17, 2019

Libyan shipping sources confirmed the closure of oil and non-oil ports in Libya on Tuesday, because of severe weather conditions “Tankers are waiting to be loaded at the oil harbours in Ras Lanuf, Sidra, Zueitina, Zawiya, and Huraika,” the sources told Reuters. The National Oil Corporation (NOC) announced in early December last, the closure of…

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Algeria eyeing Exxon deal – Sonatrach CEO

Jan 16, 2019

Algeria will conclude its deal with Exxon Mobil Corp and set up a trade joint venture with an international company before the first half of 2019, Sonatrach’s CEO said on Monday. “We are very optimistic and things are moving in the right direction so we will conclude with Exxon and have our trade JV,” Abdelmoumen…

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Tlou Energy announces recommencement of drilling at the Lesedi CBM project, Botswana

Jan 15, 2019

Tlou Energy, the ASX, AIM and BSE listed company focused on developing gas-to-power projects in southern Africa using coal bed methane (‘CBM’) natural gas from its gas field in Botswana, has announced that the Company’s operational team has recommenced Production Pod drilling at its advanced stage Lesedi CBM project. Key Points: Drilling of lateral wells at…

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KenolKobil board okays takeover by French firm Rubis Energie

Jan 15, 2019

The board of NSE-listed oil marketer KenolKobil has endorsed the proposed takeover of the firm by French company Rubis Energie. Following the approval by the board, shareholders have until February 18 to accept or reject the offer. “After deliberations and on the basis of independent financial advice, the directors (of KenolKobil) are recommending to the…

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PCM Capital Partners exits Petro Ivoire

Jan 14, 2019

PCM Capital Partners (PCP), managers of the West Africa Emerging Growth Fund (WAEMGF), has announced the Fund’s exit from its investment in Petro Ivoire, a downstream oil and gas sector player in Côte d’Ivoire. This exit, the first from the WAEMGF portfolio, was structured as a Leveraged Management Buy Out (LMBO) transaction led by Vantage…

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Edison’s Egyptian exploration and production assets draw interest

Jan 14, 2019

According to a Bloomberg report, Apex International Energy and Neptune Energy are among companies considering bids to purchase up to $2 billion of Edison’s exploration and production assets in Egypt and Italy. The deadline for bids on these assets is this month, but the companies have not yet confirmed whether they will submit bids. Edison’s…

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Fuel hike sparks protests in Zimbabwe

Jan 14, 2019

Commuters were stranded in Zimbabwe’s two main cities Monday as angry protesters reacting to the weekend more than doubling of fuel prices, burned tyres and used rocks to barricade roads and blocked buses from carrying passengers. President Emmerson Mnangagwa on Saturday announced a more than 100 percent rise in the price of petrol and diesel…

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