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Issue 172 - 17 October 2009

IOCs await decisions in DRC

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DRC’s untapped mining wealth is well known, its hydrocarbons potential less so. The government has drawn up a new hydrocarbons law, which is now going through the increasingly assertive and well-informed two-chamber parliament

DR Congo
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Relations between Angola and Democratic Republic of Congo have deteriorated following the tit-for-tat expulsion of Angolan and Congolese nationals who have, until recent crackdowns, generally been allowed to live in border regions. President José Eduardo dos Santos failed to attend the Southern African Development Community’s Kinshasa summit

DR Congo | Angola
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Jon Marks reports from Kinshasa that major new power projects and an oil and gas licensing round are planned, but investors will need watertight guarantees to persuade them Congo really is open for business

DR Congo
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Criticism in the local press and among officials and trade unions of State Assets (Portefeuille) Minister Jeannine Mabunda Lioko Mudiayi shows the arch reformer in President Joseph Kabila Kabange’s government coming under a range of pressures as parastatals struggle to meet her stringent demands for reform,

DR Congo
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General syndication for state oil giant Sonangol’s new $1.5bn loan has brought the number of banks in the deal to 16, underwriting bank Calyon told African Energy

Angola
Issue 172 - 17 October 2009

New Actis fund targets energy sector

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African projects are likely to feature prominently in the newly closed $750m Actis Infrastructure 2 fund, in which the energy sector – principally electricity – will account for around 80% of the emerging markets investments to be made, writes Kevin Godier.

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After several years of negotiations, an Emissions Reductions Purchase Agreement for 500,000 tonnes of carbon has been signed by the World Bank’s BioCarbon Fund and the director general of Congolese private company Novacel, Olivier Mushiete.

DR Congo
Issue 171 - 03 October 2009

Angola agrees to IMF deal

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In a remarkable warming of relations between two long-standing adversaries, the International Monetary Fund board is expected to approve a standby arrangement for Angola in November worth some

Angola
Issue 171 - 03 October 2009

Market awaits Eskom funding model

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The short-term future of many of southern Africa’s power markets depends on Eskom’s investment plans.

South Africa
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PA Resources AB has entered into a one year $125m corporate finance facility agreement with Standard Bank.

Equatorial Guinea | Congo Brazzaville
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MAURITANIA: IMF, World Bank to resume lending; IFC: Kuwait Energy Company wins funding; WEST AFRICA: AfDB funds fibre-optic cable

Ghana | Egypt | Mauritania | Nigeria | Morocco | Senegal | Côte d'Ivoire
Issue 170 - 19 September 2009

Little hope of peace from Delta ceasefire

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Militants in the Niger Delta have agreed to extend their ceasefire by 30 days but there has been little improvement in the situation on the ground. Some militants have surrendered their weapons in public ceremonies, but one source in the Delta told African Energy: “it’s just tokens, more guns are still being hidden in the creeks.”

Niger
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Bank of Tokyo-Mitsubishi UFJ and Morgan Stanley have launched general syndication for a

Egypt
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Oil industry reformer Shukri Ghanem’s resignation after a dispute with the prime minister is shrouded in mystery, but NOC seems determined to carry on business as usual. Beneath the recent dramatic developments in Tripoli lies Muammar Qadhafi, who has been reasserting his will over swathes of the economy, writes John Hamilton

Libya
Issue 170 - 19 September 2009

Key characters in Libya’s oil drama

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Shukri Ghanem – an academic who became one of Libya’s few genuine economic reformers, he spent most of the 1990s working as a petroleum economist at OPEC in Vienna, where he established a close connection with Saif Al-Islam Al-Qadhafi.

Libya