African News

Tortue Ahmeyim LNG Phase 1 FID agreed upon by Kosmos, BP others

Dec 25, 2018

Kosmos Energy (NYSE:KOS)(LSE:KOS) and its partners announced today that a Final Investment Decision (FID) for Phase 1 of the Greater Tortue Ahmeyim project has been agreed. The decision was made by Kosmos, BP, Petrosen and SMHPM following a meeting to agree final elements held in Nouakchott between President Mohamed Ould Abdel Aziz of Mauritania and…

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Ivory Coast plans thermal power plant for Jacqueville

Dec 24, 2018

Cote d’Ivoire will see a new thermal power plant constructed in Jacqueville. The plant will have a capacity of 390 MW and cost an estimated $430 million. This CIPREL 5 combined-cycle thermal power plant, planned for the city of Jacqueville, consists of a 260 MW gas turbine and a 130 MW steam turbine, for a…

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OPIC approves funding for gas pipeline to Egypt

Dec 21, 2018

Overseas Private Investment Corporation (OPIC), the institution that funds projects led by US firms in developing countries, in its announcement on 2019 funding said it will provide funding for a pipeline in Egypt. A total of $430 million in political risk insurance has been given to Noble Energy, Inc. to support the restoration, operation, and…

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Electricity grid linking Soma, Kiang And Brikama to be launched in early 2019 – Gambian govt.

Dec 21, 2018

The construction of the first OMVG hydro-electric power station, connecting communities from Jarra Soma, Lower River Region to Brikama, West Coast Region, will be launched in early 2019, officials reveal. Following a closed-door discussion with His Excellency, President Adama Barrow at the State House in Banjul, Antonio Serifo Embalo, Chairman, Council of Ministers of the…

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Ugandan government okays Tullow’s sale after Shs600b tax bargain

Dec 21, 2018

Energy minister Irene Muloni revealed that government has endorsed the Anglo-Irish Tullow Oil Uganda’s sale of assets to French oil major Total E&P and China’s Cnooc, subject to payment of $167m (about Shs614b) in Capital Gains Tax (CGT). The CGT is a tax on the profit upon sale or disposal of something such as an…

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Côte D’ivoire connects 60 villages to electricity grid

Dec 21, 2018

Sixty villages in the Tonkpi region of Côte d’Ivoire have emerged from darkness as part of the rural electrification component of the 137-year-old Transport and Distribution Grid Reinforcement Project (PRETD), which has been funded to support , 82 million euros by the African Development Bank Group. The Ivorian Prime Minister, Amadou Gon Coulibaly, proceeded, on…

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Saipem wins more Zohr field EPCI work

Dec 21, 2018

Saipem and Petrobel have negotiated a contract addendum worth more than $1.2 billion for engineering, procurement, construction, and installation (EPCI) activities in relation to the ramp up to plateau phase of the Zohr field in the Egyptian sector of the Mediterranean Sea. Petrobel is a 50-50 joint venture between Egyptian General Petroleum Corp. and IEOC (an Eni subsidiary in Egypt)…

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Deep oil sector reforms set Angola on path to growth in 2019

Dec 21, 2018

Reforms span from changes in tax law to changes in concession contracts and the opening of marginal fields to African independents. Key measures include the formation of upstream and downstream taskforces, the privatization of some Sonangol subsidiaries, and the creation of a new regulator to manage concessions. The measures are already attracting interest from investors…

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World Bank, AFD develop new initiative to mitigate risk for global solar scale-up

Dec 20, 2018

The World Bank and Agence Française de Développement (AFD) are developing a joint Global Solar Risk Mitigation Initiative (SRMI), an integrated approach to tackle policy, technical and financial issues associated with scaling up solar energy deployment, especially in some of the world’s poorest countries. Initiated in Delhi at the first International Solar Alliance (ISA) summit…

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Zambia says Zesco will not be ceded to China for debt repayment

Dec 20, 2018

Zambia has once again established the truth about the allegation that Zesco, its national electricity company, will be sold to China as a debt repayment to China. This time, it’s at the White House that she answers. John Bolton, President Donald Trump’s security advisor, has recently claimed that in its eager pursuit of power in…

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