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The government has signed a E50m ($67m) loan agreement with the European Investment Bank for the rehabilitation of the Mount Coffee hydro project. The 64MW facility on the St Paul River was built in 1966 and extensively damaged during Liberia’s civil war.

Frank Timis’ West African oil exploration company African Petroleum Corporation started drilling the Bee Eater-1 well in Block LB-09 on 4 January with Ocean Rig’s Eirik Raude semi-submersible rig, and says it is close to finalising negotiations for PetroChina to take up to 20% in the block.

The European Investment Bank (EIB) on 24 September began the appraisal process for a €50m ($65m) loan to a project to restore the inoperative 64MW Mount Coffee hydroelectric power station.

Frank Timis’ West African oil exploration company African Petroleum Corporation announced on 3 September that the period of exclusivity granted to PetroChina under a July memorandum of understanding has expired without a deal being reached.

Eni has signed a sale and purchase agreement with Chevron for a 25% interest in blocks LB-11, LB-12 and LB-14. Chevron plans a deep-water well on the acreage in Q4 this year. The joint venture is now composed of Chevron (45%), Eni (25%) and Nigeria’s Oranto Petroleum (30%).

Frank Timis’ African Petroleum Corporation has signed a memorandum of understanding (MoU) with China National Petroleum Corporation subsidiary PetroChina International Investment Company.

National Oil Company of Liberia (Nocal) has written to Canadian Overseas Petroleum (COP) advising its acceptance of a deal for ExxonMobil to take a 70% operating stake in block LB-13 (AE 221/11).

With IFIs lining up to support the UN’s Sustainable Energy for All initiative, the European Investment Bank is looking to play a significant role in kick-starting investment

Controversial investor Frank Timis has continued to buy up West African minerals assets in the oil sector using the Australian Stock Exchange-listed African Petroleum Corporation to amass acreage, this time taking Block CI‐509 in Côte d’Ivoire

After several dry wells, two new finds have offered confirmation of the potential of the West African Transform Margin beyond Ghana, with African Petroleum announcing Liberia’s first oil find, and success for Anadarko with the Jupiter well offshore Sierra Leone.

Frank Timis’ African Petroleum has added a block in Côte d’Ivoire to its growing West African portfolio and started drilling a second well offshore Liberia

The West African Power Pool secretariat has announced the award of two

In a major boost to perceptions of Liberia’s offshore potential following two dry wells, ExxonMobil has agreed to acquire a 70% stake in Block LB-13 from Canadian Overseas Petroleum (COP) for $97m, including future

The Norwegian Nobel Committee’s decision to award the 2011 Peace Prize to President Ellen Johnson Sirleaf, just four days before the first round of Liberia’s presidential elections, was a controversial one. In her first term, Johnson Sirleaf did a remarkable job of launching the revival of a country emerging from civil war and economic chaos, but her decision to seek a second term was controversial as she had pledged to serve just one term

The Norwegian Nobel Committee’s decision to award the 2011 Peace Prize to President Ellen Johnson Sirleaf, just four days before the first round of Liberia’s presidential elections, was a controversial one. In her first term, Johnson Sirleaf did a remarkable job of launching the revival of a country emerging from civil war and economic chaos, but her decision