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News of Nigeria’s debut sovereign eurobond has been well received by the debt markets and the issue is expected to be oversubscribed, writes Jon Marks in Paris and David Slater. The government took little time in announcing that Nigeria’s debut sovereign eurobond – to raise $500m – would be issued on 21 January, following President Goodluck Jonathan’s victory over former vice president Atiku Abubakar in the ruling People’s Democratic Party (PDP) primary. International investors

Nigeria
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Despite concerns over a possible change of administration in April 2011, and controversy over the impending Petroleum Industry Bill, which promises a radical shake-up of the energy sector, international oil companies continue to seek investment in Nigeria’s oil and gas sector

Nigeria
Issue 200 - 17 December 2010

SacOil, EER farm into OPL 233

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South Africa’s SacOil Holdings has signed a farm-in agreement with Nigdel United Oil Company to acquire a 20% working interest in the OPL 233 licence off the coast of the central delta region and adjacent to the Apoi field

Nigeria
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The revelations and opinions included in leaked US cables suggest it is business as usual in the Nigerian oil industry, where IOCs and indigenous players are looking to trade more acreage, speculation surrounds a proposed marginal fields round and decisions on new natural gas schemes are being pushed ahead of next April’s elections

Nigeria
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GE is supplying four Frame 9E gas turbines to China Machinery & Equipment Company (CMEC) for the 500MW Omotosho Phase 2 power plant in Ondo state.

Nigeria
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Companies and entrepreneurs are awaiting new energy tariffs that could enable ambitious generation schemes to get off the ground, writes Jon Marks in Abuja

Nigeria
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A multi-billion dollar chunk of an estimated $5bn-6bn payments backlog accumulated by Nigerian National Petroleum Corporation (NNPC)’s fuel importing arm has been paid this autumn, African Energy has been told

Nigeria
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The re-emergence of controversial former vice president Atiku Abubakar as presidential candidate for a group of powerful northern elite factions has added some very Nigerian spice to the 2011 presidential election

Nigeria
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With the political elite gearing up to battle it out for the 2011 presidential nomination, the incumbent ‘GoodluckSambo’ ticket is looking for some ‘easy wins’ to outflank opponents. On the agenda is a revival of the stalled electricity sector liberalisation programme, writes Jon Marks in Abuja and Lagos

Nigeria
Issue 199 - 03 December 2010

Nigeria: Panoro Energy sells Ajapa stake

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Panoro Energy, formed in June by the merger of Pan Petroleum and the Brazilian assets of Norse Energy, has completed the sale of its 40% stake in the Ajapa marginal field in OML 90 for $30m

Nigeria | Congo Brazzaville
Issue 199 - 03 December 2010

IFC invests in Lagos

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The World Bank Group’s International Finance Corporation has announced a $70m investment in First City Monument Bank (FCMB) to support its growth strategy and help it increase financing of small and medium enterprises.

Nigeria
Issue 197 - 05 November 2010

Afren arm takes onshore stake

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Afren affiliate First Hydrocarbon Nigeria (FHN) has acquired a 45% interest in onshore OML 26 in Delta state. FHN is an indigenous upstream oil and gas company in which Afren holds a 45% interest. The stake has been acquired from Shell Petroleum Development Company,

Nigeria
Issue 196 - 23 October 2010

Opic backs ContourGlobal CHP scheme

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The US Overseas Private Investment Corporation has agreed to provide $37.8m in political risk insurance to support ContourGlobal’s construction and operation of three combined heat and power generation (CHP) plants for Nigeria Bottling Company (NBC).

Nigeria
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Nigeria is preparing to launch a debut global bond that will underline the country’s rehabilitation in international markets and, more generally, highlight the growing attraction of so-called frontier markets for fixed-income and other investors.

Nigeria
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ALGERIA: Petroceltic plans Ain Tsila appraisal; ANGOLA: New 15/06 find for Eni; ANGOLA: KBR wins Clov contract; DR CONGO: Soco drilling; EGYPT: Crosco provides rig for INA well; GUINEA-BISSAU: Svenska 3D survey; KENYA: Cove completes farm-in; NIGERIA: Ebok field sail-away ceremony; ERHC ENERGY: Registered direct offering raises $2m; GE: Dresser acquisition; PROSAFE/BW: Nigeria extensions, merger

Kenya | Egypt | DR Congo | Angola | Nigeria | Guinea-Bissau | Algeria