African News

Libya’s oil revenue topped $20bn in 2019 – NOC

Jan 8, 2020

Libya’s state-owned National Oil Corporation (NOC) said on Monday that the country’s oil revenues in 2019 exceeded 20 billion U.S. dollars. “NOC’s revenues come from sales of natural gas, crude oil and assorted derivative products, in addition to taxes and royalties received from concession contracts,” NOC said in a statement. “These revenues provide vital resources…

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AfDB approves $20m investment in Metier Fund to support renewable energy in sub-Saharan Africa

Jan 8, 2020

The Board of Directors of the African Development Bank has approved a $20 million investment in the Metier Sustainable Capital International Fund II, which channels funds to renewable energy and resource-efficient infrastructure projects across Sub-Saharan Africa. The Bank’s funding will contribute to production of an additional 178.5 megawatts of renewable power for commercial and residential…

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Liberian county set to receive electricity decades after civil war

Jan 8, 2020

Anxious residents of Caldwell Township, Montserrado County appear to be bracing themselves to receive electricity in the township for the first time since the area was disconnected like many parts of Liberia, as a result of destruction during the Liberian Civil War in the 90s. Authorities from the Liberia Electricity Corporation have begun to erect…

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Eskom implements stage 2 load shedding in SA

Jan 8, 2020

Eskom has announced it will implement Stage 2 load shedding from 1am to 6am tomorrow morning. In order to give matriculants an opportunity to receive their matric results, the implementation of Stage 2 load shedding has been delayed to Wednesday morning. “This decision will also allow the matriculants enough time to make their way home…

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Algeria sees oil revenue drop by 14.6% in 2019

Jan 8, 2020

In Algeria, customs data released on Tuesday showed that revenues from the marketing of oil and gas fell 14.6% in the first 11 months of the past year. That works out to $ 30.2 billion, up from $ 35.4 billion in the first 11 months of 2018. The weakness in energy revenues was caused by a…

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Liberia set to offer 9 offshore blocks in new licensing round

Jan 8, 2020

The Liberia Petroleum Regulatory Authority has announced the launch of its next offshore licensing round, expected to commence in April 2020. Nine blocks will be on offer in the Harper basin, one of the last unexplored and undrilled regions offshore West Africa. Geophysical company TGS holds a range of multi-client data across this acreage to…

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12 new Senegalese villages connected to national grid

Jan 7, 2020

In Senegal, Pape Demba Bitèye, the director general of Senelec, the national electric company has just put two electric connection lines into service. It is a 250 km medium voltage line and a 750 km low voltage line. These two infrastructures, located in the Fatick and Kaolack regions, now allow the connection of 12 villages in these…

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Kenyan LPG crisis looms as dealers, regulator clash over licensing law

Jan 7, 2020

Liquefied Petroleum Gas (LPG) dealers and the national regulatory agency are headed for a showdown over the implementation of regulations relating to LPG cylinder pool exchange, a move which could plunge into crisis users of the commodity. This comes after the Energy and Petroleum Regulatory Authority (EPRA) rebuffed a request by the union of the…

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South Africa seeks 20% passive interest in oil E&P rights

Jan 7, 2020

20% is the minimum passive interest that the South African state plans to control in oil exploration and production projects. This is provided for in a bill under preparation. The text also provides for a participation of at least 10% for black partners and the creation of an Petroleum Agency which will regulate the sector. This project…

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Somalia’s Upper House approves new petroleum law

Jan 7, 2020

The upper house of Somalia’s parliament on Monday approved a new petroleum law, which aims to provide a regulatory framework that will help to attract investment in exploration by major oil companies. The country currently does not produce any oil but production could transform the economy as seismic data has shown there could be significant…

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