African News

KenolKobil buys Delta petrol stations in Uganda and Rwanda

Nov 13, 2018

KenolKobil has signed a deal worth more than $10m to acquire 33 fuel retail outlets from Delta Petroleum in Uganda and Rwanda.  The deal, which was signed yesterday in Nairobi, Kenya seeks to increase the Kenyan-based company’s footprint in Uganda and Rwanda. The deal will see KenolKobil take over 23 fuel stations from Delta Petroleum…

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Senegal solar project wins Phanes Group’s second Solar Incubator

Nov 13, 2018

International end-to-end solar provider Phanes Group has announced the 30MW Gossas Solar Farm Project in Senegal as the winner of the second edition of its Solar Incubator. The announcement was made at the “Unlocking Solar Capital: Africa” conference in Kigali, Rwanda, where three finalists presented their proposal to a panel of international industry experts from…

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Eni sells 20% stake in Nour North Sinai Offshore concession in Egypt to Mubadala Petroleum

Nov 13, 2018

The Chief Executive Officer of Petroleum & Petrochemicals, Mubadala Investment Company, and Chairman of Mubadala Petroleum, Musabbeh Al Kaabi, and the Chief Executive Officer of Eni, Claudio Descalzi, signed an agreement today for the sale of a 20% participating interest, out of Eni’s share, in the Nour North Sinai Offshore concession, in Egypt, to Mubadala…

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Egypt seeks $10bn in new oil, gas investments

Nov 13, 2018

In a Ministry of Petroleum statement released on November 10, Tarek El Molla, Egypt’s petroleum minister, said the country was looking to attract an estimated $10 billion in new investments during the current fiscal year. The funds will be used in the search for oil and gas and to further the development of discovered fields.…

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Nareva, Enel Green Power mobilize funds for Morocco’s 180MW Midelt wind farm

Nov 13, 2018

In Morocco power producers Nareva and Enel Green Power completed the financial mobilization of $230 million needed for the construction of the Midelt wind farm. Part of the financing came from a loan allocated by Morocco’s National Office of Electricity and Drinking Water. (ONEE). With a capacity of 180 MW, the infrastructure will be built…

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MCC approves new Energy Compact for Senegal

Nov 13, 2018

The Millennium Challenge Corporation (MCC) has just approved a new Energy Compact for Senegal. This agreement will see $550 million for the electricity sector and $50 million for stimulating economic growth and progress. Funding for the power sector will support three projects, including upgrading and strengthening the country’s electricity grid, increasing access to energy for…

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Kenya targets 100% green energy by 2020

Nov 13, 2018

Kenya targets 100 per cent transition to green energy by 2020 to address the climate change challenge, President Uhuru Kenyatta has said. President Kenyatta said renewable energy makes up 70 per cent of Kenya’s installed electric power capacity, with investment scaled up. He said the aggressive investments to reach this figure have been made simultaneously…

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Sonatrach seeks to lure foreign firms to help lift Algeria’s gas output

Nov 12, 2018

After persuading oil majors to help explore Algeria’s vast shale gas reserves, state energy firm Sonatrach has started reaching out to a different kind of partner: mystical Sufi preachers. Sonatrach CEO Abdelmoumen Ould Kaddour and his colleagues have been courting Sunni Muslim Sufi masters from communities in areas near prospective southern gas fields to win…

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Rockhopper gives update on Egypt operations

Nov 12, 2018

Rockhopper Exploration, the oil and gas company with key interests in the North Falkland Basin and the Greater Mediterranean region, has provided an operational and corporate update in relation to its Egyptian portfolio. Current production from the Abu Sennan concession is approx. 3,800 barrels of oil per day (‘bopd’) gross (840 bopd net to Rockhopper’s 22% working…

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Total inaugurates the Kaombo project, commits to new investments in Angola

Nov 12, 2018

The Angolan State Minister for Economic and Social Development, Manuel Nunes Junior, the Chairman and CEO of Total, Patrick Pouyanné, and the Chairman of the Board of Directors of Sonangol, Carlos Saturnino, inaugurated the Kaombo project today, which came on stream in July and is located deep offshore on Block 32, 260 kilometers off the…

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