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 […]
oil
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 […]
ENI discovers more gas in Congo
Italian oil company ENI said on Thursday it has discovered more gas off Congo’s shores. According to the company, the discovery is situated in the […]
Nigeria to build 30 refineries close to the state-run units
Nigeria has granted 30 construction licences to private refineries in order to cut the country’s reliance on imports. According to the Vice President, Yemi Osinbajo, […]
Uganda’s central bank raises benchmark rate to 17.0%
Uganda’s central bank raised its benchmark interest rate for the fifth consecutive meeting after a weaker currency boosted inflation to a two-year high. The bank […]
Angola cuts budget by 50% as oil prices fall
The government of Angola, sub-Saharan Africa’s second-largest crude producer, cut spending by half this year following a plunge in oil prices. Vice President Manuel Vicente […]
Kuwait: Oil prices to rise as high-cost producers bow out
Kuwait’s oil Minister Ali al-Omair believes that oil prices will rise by next year because high-cost oil producers have started to cut their production. He […]
Egypt ventures into Iraq for oil
Egypt has acquired 10% of the concession of Kuwait Energy, a private firm, on an oilfield in Basra, southern Iraq. Egyptian Petroleum minister Tarek El-Molla […]