African News

Anglo African Oil & Gas completes financing for Congo operations

Jul 17, 2019

Anglo African Oil & Gas has completed a fundraising for up to £8.25m. The fundraising comprises: a placing of 49,288,347 ordinary shares of 5p each in the capital of the Company to Miton Asset Management at a price of 5.2p per Ordinary Share, a premium of 26.83 % to the prevailing share price on 16 July…

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South Sudan, Sudan to work together on oil export constraints

Jul 17, 2019

South Sudan and Sudan have agreed to jointly address issues limiting the export of Juba’s oil through Khartoum ports, South Sudan’s local media reported citing petroleum minister as saying on Monday. Awow Daniel Chuang, South Sudan’s minister of petroleum and mining told state owned-radio South Sudan Broadcasting Corporation (SBBC) that the two countries agreed to…

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Seadrill secures drilling rig contract in Gabon

Jul 17, 2019

Seadrill Partners (“SDLP” or “the Company”) has secured a one well contract with PC Gabon Upstream S.A. for the West Polaris to work offshore Gabon. Backlog is expected to be approximately $22 million excluding mobilization fees with commencement expected in September 2019 and running to the end of 2019. FORWARD LOOKING STATEMENTS This news release…

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Dangote Group calls for investment in West Africa’s downstream petroleum sector

Jul 17, 2019

The Executive Director of Dangote Group of Companies, Mr Devakumar Edwin has tasked investors in the West African sub-region to take the bull by the horn and invest in the petroleum downstream sector. This according to him was the surest way of driving the sector to create the needed jobs for the teaming youth on…

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Zimbabwe blackouts trigger turmoil in telecoms sector

Jul 17, 2019

Zimbabwe’s mobile network connectivity was in a bad state over the last weekend, with callers and the transacting public reporting challenges in making calls and getting mobile money transactions to go through. The disruptive service unavailability comes at a time mobile money services are playing a key inclusive role of bridging the financial divide by…

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Cameroon engages Sinohydro for solar power plant

Jul 17, 2019

Cameroon has tasked Chinese firm Sinohydro with studies for the designing, financing, development and maintenance of a 20MW solar plant in Lagdo, in the north. On July 11, 2019, in Yaoundé, a memorandum of understanding was signed in that regard by the minister of water and energy Gaston Eloundou Essomba and the Chinese company’s local…

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Tullow says sale efforts being frustrated in Uganda

Jul 17, 2019

Tullow Oil has said efforts to offload a significant stake in its Ugandan operations are being frustrated by endless government negotiations. Speaking to Bloomberg, an online news agency, Mr Paul McDade, the Tullow chief executive officer, said efforts to offload a 21.57 per cent stake in Ugandan exploration areas to Total SA continue to stall…

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Two oil exploration companies relinquish licences in Malawi

Jul 16, 2019

Two oil exploration firms, Efora Company, formerly Sac Oil, and Pacific Oil Limited have relinquished ownership of their licensed blocks one and six, respectively, a move government says will not affect operations. The Malawi Government issued six oil and gas exploration and production licences in which 60 percent lies outside the lake. The country granted…

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Ghana’s ECG, PDS caution against rumors of confusion with IPPs

Jul 16, 2019

Power Distribution Services (PDS) and the Electricity Company of Ghana (ECG) have urged public calm over fears of looming power outages due to debts owed power producers. In a joint statement, the two institutions sought to dispel the threat by the Chamber of Independent Power Producers and Bulk Consumers (CIPDIB) that the debt could force…

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Biogas offers hope for rural household energy woes in Zimbabwe

Jul 16, 2019

Zimbabwe’s quest to improve economic development and reach a middle income economy by 2030, can be catalysed by improving energy access for rural communities. Biogas energy, which is derived from human and animal waste, can be a panacea to energy challenges bedevilling Zimbabwe’s rural communities. In Silobela and Lower Gweru communal areas over-reliance on firewood…

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