Africa | Egypt Oil & Gas - Part 23
Nigeria Runs Down Oil Savings Account to Pay Debt
Nigeria’s government plans to run down its oil savings to offset revenue shortfalls and pay debt, such as salaries for state workers. The Excess Crude Account, which has a balance of about $2 billion, will be drawn do...
South Africa’s Solar Kits Surge
A motorbike accident two years ago in the Cape Town suburb of Milnerton left Pascal Kassongo with a leg fracture, multiple cuts and a written-off bike, crippling his courier business. Two weeks in hospital, followed b...
Shoreline Plans $2 Billion Bond to Buy Africa Energy Assets
Shoreline Group, a Nigerian company with interests from oil production to rope-making across six African countries, plans to sell $2 billion in debt to buy crude and gas assets on the continent, which may include purc...
Mozambique in Good Shape But Must Keep an Eye on State Firms: IMF
Strong economic growth in Mozambique is supported by major investments in the coal mining and natural gas sectors but stricter control over state-run firms is necessary, the International Monetary Fund said on Thursda...
Algeria’s Q1 Oil and Gas Output Decreases 6 Percent
Algeria’s oil and natural gas output fell by 6 percent in the first quarter of 2015 from a year earlier despite an increase in investment, state radio reported on Wednesday citing the energy ministry. Lower outp...
Nigeria’s Total Debt Rises to 12.1 Trillion Naira
Nigeria’s total debt rose to 12.1 trillion naira ($60.8 billion) as of March 2015, up from 11.2 trillion naira at the end of December 2014, the Debt Management Office (DMO) said. The DMO said on its website that...
Uganda shortlists 17 firms for bidding on exploration blocks
The Ugandan government said on Wednesday it had shortlisted 17 oil companies to bid for six exploration blocks in the east African nation, which has found commercial quantities of oil and aims to pump crude in 2018. U...
Gulf Petrochem Acquires, Renames Kenyan Downstream Company
Gulf Petrochem group has announced the official acquisition and name change of Essar Petroleum East Africa Ltd to Aspam Energy (Kenya) Ltd. The deal will enhance the group’s integrated services and products for the do...
