Angola to Restructure Oil Sector
The Angolan Government on Wednesday said it will restructure the state oil firm Sonangol to “increase efficiency and profitability.” According to the country’s oil Minister […]
oil
Angola: Sonangol Discovers New Offshore Reserves
One of Africa’s largest companies, the Angola National Oil Company (Sonangol) on Thursday said it has discovered a global-scale of oil and gas reserves in […]
Algeria: Not bankrupt by low oil prices but ready for production freeze
Prime Minister Abdelmalek Sellal during his visit to Annaba, 600km east of Algiers, said the country is not “in bankruptcy” despite the low global oil […]
Libya: new long waited cabinet unveiled, divisions crack unity
Libya’s weak Presidency Council Sunday unveiled from the Moroccan city of Skhirat an 18-member cabinet amid confusion marked by rejection of the cabinet by two […]
Nigeria: Gov’t to chase 23,000 ghosts on payroll
Nigerian Minister of Finance, Kemi Adeosun on Thursday said 23,000 ghost workers unraveled in the Federal Civil Service in the West-African nation would be handed […]
Nigeria needs $1 bln budget support loan from AfDB
The African Development Bank (AfDB) on Tuesday said the federal government of Nigeria had requested a ‘Budget Support Loan’ of $1 billion to enable it […]
Nigeria plans up to $5bn Eurobond in 2016
Nigerian Federal Government plans to borrow up to $5 billion in 2016, from multiple sources, including the Eurobond market, to plug its deficit as the […]
A giant fire at an oil port in Libya destroyed four oil storage tanks
A fire that is raging for almost twenty-four hours at Libya’s biggest oil port has destroyed four oil storage tanks on Wednesday, a day after […]
IMF’s Lagarde visits Nigeria
The Managing Director of the International Monetary Fund (IMF), Ms. Christine Lagarde starts a four-day working visit to Nigeria on Monday. The international lender said […]
Nigeria: NGOs to launch “Stop the Bleeding” campaign
Nigeria is bleeding. But it’s not a physical wound; it’s a financial one, and it’s allowing more to leave in illicit flows – money that […]