Login
The temporary closure by protesters of three oil terminals, which caused a fall in exports of 300,000 b/d over two days in early July, is likely to reoccur, according to European security and diplomatic sources
The World Bank Group has activated $300m of additional credit support for power sector reform and gas development projects, including a SDR64.5m ($100m equivalent) loan for transmission and distribution infrastructure, and International Development Association partial risk guarantees (PRGs) worth $200m to support Niger Delta Power Holding Company’s gas supply and aggregation agreements with Shell Petroleum Development Company, Chevron Nigeria Ltd and other oil companies.
President Alpha Condé’s election offers the prospect of democratic rule, but he faces an enormous task in developing his troubled state to meet voters’ and investors’ expectations, writes Thalia Griffiths, recently in Conakry
Rating agency Moody’s Investors Service lowered Eni’s long-term corporate credit rating to A3 (outlook negative) from A2 on 16 July. It also lowered the company’s short-term credit rating to P-2 from P-1.
Record electricity consumption in mid-July has highlighted the basic weaknesses of beleaguered state utility Sonelgaz as it seeks to attract international support for its ambitious investment programme, writes Oualid Khelifi
A decision by the African Development Bank (AfDB) board of governors to prepare for the bank’s return to its statutory headquarters in Abidjan, following the end of conflict in Côte d’Ivoire, was discussed at the first formal meeting between AfDB president Donald Kaberuka and Tunisian interim Prime Minister Hamadi Jebali on 3 July
Madagascar Oil’s onshore heavy oil ambitions apart, there is little movement on other upstream projects, not least due to a difficult political environment in which controversial President Andry Rajoelina has sought to control the nascent oil industry while consolidating his power base in Antananarivo.
The suicide bombing of a gendarmerie barracks in Ouargla and shock jihadist victories in Mali are fuelling unease about the future of the vast Sahara-Sahel region, adding to the uncertain political mood in Algiers, write Oualid Khelifi and Jon Marks
The Algerian national oil company continues to attempt to put its house in order, with Sonatrach president director-general (PDG) Abdelhamid Zerguine calling for an organisation-wide inquiry to check that qualifications.
Abu Dhabi National Energy Company (Taqa) has signed financing arrangements for $1.4bn equivalent of 16-year, multi-currency non-recourse project financing for the 700MW expansion of the Jorf Lasfar coal-fired power complex.
Kenya’s Mombasa refinery has secured its short-term future with a $250m working capital loan to support its transformation from a tolling refinery to a merchant one, writes Kimemia Mugo in Nairobi
Controversial South African businessman Moto Mabanga has failed in his bid to win more money from Ophir Energy for helping the company to secure acreage offshore Tanzania
With tougher anti-bribery legislation in place in the US and UK, local partners have been identified as a key vulnerability. Foreign companies need them to help them navigate the local business environment, especially if it is government policy to develop local content.
The African Development Bank (AfDB) received $43.7m at the 42nd Council Meeting of the Global Environment Facility (GEF) in Washington on 5-7 June.
US government development finance institution the Overseas Private Investment Corporation (Opic) has approved $175m for two new investment funds intended to bring renewable energy technologies to markets in Latin America, South East Asia and sub-Saharan Africa.
