Petrol shortage imminent in Liberia

Feb 29, 2020

The managing director of the Liberia Petroleum Refining Company (LPRC) Marie-Urey Coleman says,current stock in the country will last for 48 days, risking a return of the recent gasoline crisis here.However, she discloses a vessel of 15,000 metric tons of gasoline is expected to arrive by 10th March. Appearing before the Liberian Senate Thursday, Madam…

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Despite IMF alerts, S. Sudan still secures loans on future oil sales

Feb 29, 2020

South Sudan still benefits from loans guaranteed by future oil sales. This was revealed in a report to the United Nations Security Council dated November 22, 2019, but published this week. The document indicates that despite the recommendations of the international financial institutions and the danger that this practice involves for external debt, the system…

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Zimbabwe faces 300% surge in electricity tariffs

Feb 28, 2020

The continuous low water levels on Zimbabwe’s biggest dam, Kariba, could see a 300% spike in electricity costs, as the country battles crippling power cuts of up to 17 hours daily, the United Nations Economic Commission for Africa (Uneca) has warned. This was revealed at the just-ended sixth session of the Africa Regional Forum on…

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Sonangol plans share sale for 30% of business in expansive shakeup

Feb 27, 2020

Angola’s state oil company Sonangol EP will step up its transformation with the sale of 30% of the business by 2027 and the further disposal of non-core assets. The partial sale of Sonangol will take “some time” and follow a financial review, Chairman Gaspar Martins told reporters Thursday in the capital, Luanda. The restructuring is…

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Algeria targets 16,000MW of renewable energy by 2035

Feb 27, 2020

Prime Minister Abdelaziz Djerad on Monday told Hassi Messaoud of a national strategy for a smooth energy transition aimed at developing and raising the production of renewable energies to 16,000 megawatts by 2035. In his speech on the occasion of the celebration of the double anniversary of the nationalization of hydrocarbons and the creation of…

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Maersk Decom lands first complete plugging & abandonment job off Mauritania

Feb 27, 2020

Maersk Decom, a 50:50 joint venture between Maersk Drilling and Maersk Supply Services, has won a contract for the complete plugging and abandonment of Tullow Oil’s Banda and Tiof fields located offshore Mauritania. This is the first project where Maersk Decom will provide an end-to-end plugging and abandonment solution under one single contract, Maersk Decom…

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Kenya Power profit drops from Sh3.2bn to Sh262m

Feb 27, 2020

Kenya Power has posted a 91.98 percent decline in net profit to Sh262 million from Sh3.27 billion for the financial year ended June 2019 on high cost of buying electricity. Despite revenue rising by 1.34 percent to Sh133.1 billion on more electricity sales, increased power purchase and higher finance costs depressed its bottom-line. “This was…

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Ethiopia to skip latest round of Nile dam talks

Feb 27, 2020

Ethiopia says it will not send representatives to the final round of negotiations on the use of the Nile waters, in a move likely to delay a binding agreement. The deal is to be signed between Ethiopia, Sudan and Egypt. Hailemariam Desalegn, a former Ethiopian Prime Minister and now Special Envoy for Ethiopia on the…

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Apache Corp, Pharos Energy among bidders for Shell’s Egypt onshore assets

Feb 27, 2020

Royal Dutch Shell’s onshore Egyptian oil and gas assets have drawn interest from American, Egyptian, Asian and Middle East bidders, two sources familiar with the matter told Reuters. According to Reuters, Apache Corp and London-listed Pharos Energy are among the bidders. Shell Egypt announced in October 2019 it was to market its current onshore upstream assets in the…

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Ghana’s Deputy Energy Minister says current ‘dumsor’ to end next week

Feb 27, 2020

The Deputy Minister for Energy William Owuraku Aidoo says frequent power cuts in parts of the country over the past weeks will ease by the first week of March 2020. Mr Aidoo who was speaking to JoyNews on February 25, 2020, said the current power outages are caused by the ongoing repair works on the…

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