Africa
Africa: Time for a Low-Carbon Economy
Everything we consume has its origins in either agriculture or the extractive industries. Our smartphones are laden with minerals and metals. Even agricultural fertilisers come from mined minerals. But the way we've extracted, historically, has been both ecologically...
Nigeria: NNPC Receives $1bn to Fund NPDC’s Upstream Operations
The Nigerian National Petroleum Corporation (NNPC) has obtained a prepayment funding of about $1billion to support the upstream operations of its subsidiary, Nigerian Petroleum Development Company (NPDC). The crude oil prepayment has enabled NNPC to pay NPDC's Tax...
Angola: Oil Revenue Increases Over 6 Billion Kwanzas in July
Angolan oil revenues reached just over 208.4 billion kwanzas ($337.5 million equivalent) last July, an increase of Akz 6.7 billion, compared to the previous month, with the export of 37.7 million barrels of crude at an average price of $ 39.24. Data compiled by...
Nigeria: In Saving Economy, Govt Says Fuel Subsidy Gone for Good
The federal government Thursday foreclosed reinstating the fuel subsidy regime as outrage grew over the hike in ex-depot price of petrol that jacked up the pump price from between N145 and N148 per litre to N158-N162 band. It defended the fuel subsidy removal, saying...
Zimbabwe: Hwange Expansion Slightly Behind
Work on the Hwange Power Station expansion to add two units with a combined output of 600 megawatts, has reached 48 percent completion but has fallen behind the second quarter target of 57 percent due to global travel restrictions caused by Covid-19 pandemic. The...
Angola: Hydrocarbon Strategy Provides Discovery of 57 Billion Barrels
Angola's Hydrocarbon Exploration Strategy for 2020-2025, analyzed on Wednesday by the Council of Ministers, foresees the discovery of reserves between 40 to 57 billion barrels of crude oil (BBO). Angola currently has proven reserves estimated at over seven billion...
Mozambique: Islamist Insurgency in Northern Mozambique Threatens Gasfields
It is a sobering thought for Mozambique and Southern Africa as a whole that, at time of writing, a growing insurgent army with links to Islamic State remains in control of Mocimboa da Praia in Mozambique's northern Cabo Delgado province. The commercially and...
Nigeria Earns $378.42 Million From Crude Oil, Gas Despite Virus Effects
Nigeria's oil revenues rose by more than 100 per cent between May and June, despite the height of the Covid-19 pandemic. Figures from the Nigerian National Petroleum Corporation (NNPC) showed Abuja's total crude oil and gas export earnings reached $378.42 million in...
Nigeria: Govt Saves N91bn From Payment of Defunct PHCN Debts
The federal government said it saved at least N91 billion from the payment of liabilities owed the defunct Power Holding Company of Nigeria (PHCN), after thorough negotiation with the creditors. Nigeria Electricity Liability Management Company (NELMCO), which manages...
Mauritius: Govt Scrambles to Contain Massive Oil Spill
Police say they were authorized to board the Japanese-owned ship as part of its investigation into the oil spill that sparked an ecological disaster. Both Japan and France said they will send disaster relief teams. The operator of MV Wakashio, a Japanese bulk carrier,...
