Africa Region

Africa Oil and Gas news and related events in the sub region

SA firm to build oil refinery in Ghana

South Africa’s Alpha Refinery is financing the construction of a $ 7 billion refinery at Atuabo in the Western Region to process crude from the Jubilee Fields, Executive Chairman, Melvyn Julie, said in Accra. The refinery will have a capacity to process 200,000 barrels of crude a day. “We have signed the Memorandum of...

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Tullow to list in Uganda Stock Exchange

KAMPALA, UGANDA – After successfully listing on the Ghana Stock Exchange, Oil explorer Tullow is set to list on the Uganda Securities Exchange (USE). According to Mr. Jimmy Kiberu, the Corporate Affairs Manager at Tullow Uganda, the process of registering on the Uganda bourse commenced in the first part of 2010 – 2011. “It (Floating...

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Ghana to collaborate development agenda with other African countries -Veep

Vice President John Dramani Mahama has given the assurance that Ghana would always do everything within her purview to support African and other Third World countries in their development agenda. He said it is only through such collaboration that the country could effectively identify areas that she is comparatively stronger and develop strategies for partnership...

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Tullow seen beating peers with $30 billion Africa find: Energy

By Eduard Gismatullin (Bloomberg) — Tullow Oil Plc, the U.K. explorer that unlocked billions of barrels in frontiers from Uganda to French Guiana, wants to repeat those landmark finds drilling onshore East Africa as peers target natural gas offshore. With Canadian partner Africa Oil Corp., Tullow is aiming for at least 300 million barrels of...

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Asian refiners to cut West African crude imports by 13% in March

By Sherry Su  (Bloomberg) — Asian refiners will cut their daily imports of West African crude for loading in March by 13 percent from an at least seven-month high in February, according to a survey of six traders and an analysis of loading programs obtained by Bloomberg News. A total of 62 cargoes amounting to...

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Key political risks in the Gulf of Guinea

A stretch of West Africa’s coast spanning more than a dozen countries, the Gulf of Guinea is a growing source of oil, cocoa and metals for world markets. But rising rates of piracy, drug smuggling and political uncertainty in an area ravaged by civil wars and coups have made it a challenging area for...

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Financial impropriety could affect NDC in Dec elections – EIU

The financial impropriety that has rocked the government could have far-reaching consequences for the National Democratic Congress (NDC) in the December elections, the Economic Intelligence Unit (EIU) has indicated. In its February 2012 political outlook on Ghana, the EIU noted that while President John Evans Atta Mills had struggled to maintain party unity, the...

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Revenue Watch invites applications for oil and gas media training programme

Revenue Watch Institute (RWI) has announced its third class for African journalists seeking new expertise in reporting on oil, gas and minerals, to be held in Kampala, Uganda, this May. The training program seeks to engender an informed, responsive media community to provide oversight of the money from these industries. The application process is open...

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Supporting maritime security in Ghana: US Africa Command Blog

I just returned from a very successful planning meeting with the Petroleum Security Coordination Center (PSCC) in Ghana — the agency responsible for developing a strategic security plan for their oil and gas industry. We have been asked to support their effort by conducting a table top exercise to test Ghana’s Maritime Strategic Plan,...

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Gas shortfall plunges Ghana into load shedding

BY CHIKA AMANZE-NWACHUKU, This Day –Drastic reduction in gas supply from Nigeria through the West African Gas Pipeline Project (WAGPP) has forced the Electricity Company of Ghana (ECG) to resort to load management in various parts of the country, pending when normalcy would return. The WAGPP was initiated by the Federal Government with governments...

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Ghana bond sale tests foreign appetite in election year

LONDON (Reuters) - Foreign interest in a bond sale in Ghana this week is likely to be muted due to lingering concerns about currency volatility and nervousness ahead of elections due late this year, but local demand should ensure the auction is fully subscribed. Ghana's relative stability and developing oil industry have made it a favourite with foreign investors but currency weakness and ...

Indians keen to invest in Ghana's sugar, fertiliser industry

Accra (Ghana), Feb 22 (IANS) Indian investors are keen to invest as much as $36 million in Ghana's ailing sugar industry, Indian High Commissioner Rajinder Bhagat has said.

Ghana: Gargantuan Crimes, Hipocrisy And The Murdering

Is Our Democracy In Tatters? Hypocrisy is the most difficult and nerve-racking vice that any man can pursue. It needs an unceasing vigilance and a rare detachment of spirit. It cannot, like adultery or gluttony – be practiced at spare moments. It is a whole time job.

New oil discovered off Liberia and Sierra Leone coasts

Drillers converged on West African shores five years ago after one of the continent’s biggest oil fields was discovered off Ghana. read more

Ghana earned over $400m from oil export last year

President John Evans Atta Mills on Thursday disclosed that Ghana earned a total of $444,124,724 from the sale of Ghana Group’s oil lifting of 3,930,189 barrels of crude oil.

Ghana: Jubilee Fields Experiencing Problems, Production Target Can't Be Met

ACCRA, Ghana -(Dow Jones)- Oil and gas production activities in Ghana's Jubilee Fields, situated off-shore the country's western coast, have been hit by problems, and as a result the projected output target for this year can't be met, President John Atta Mills said Thursday.

Ghana c.bank hikes rates, cites euro zone

ACCRA (Reuters) - The Bank of Ghana's Monetary Policy Committee announced a one percentage point increase to 13.5 percent in its prime lending rate on Wednesday, the first hike in three years, citing risks from the euro zone debt crisis and currency volatility. The decision surprised some analysts who had expected tame inflation to prompt the central bank to keep rates on hold until later in the ...

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