Monday, November 19, 2018
Nigeria will probably maintain its system of multiple exchange rates, which the International Monetary Fund has long-urged it to scrap, until at least early 2020, according to Moody’s Investors Service. Merging the naira’s various rates any sooner might force the government...
Sebastiao Pedro struck it lucky in 2014 when, as a 21-year-old small-scale miner, he found a large red ruby in northern Mozambique. He sold it to a buyer from Vietnam for $43,000, returned to his family 900 miles away...
South Africa’s power utility Eskom Holdings, is set to expand its transmission network after the African Development Bank (AfDB) approved a US $218m loan to help fund the upgrade and expansion of its transmission facilities. The funding will consist of...
* Privately-held New Age (African Global Energy) said on Thursday its appraisal well to determine the extent of the Etinde field offshore Cameroon was successful. * Partners in the field comprise Bowleven and Lukoil . * “The recently completed second well,...
Exxon Mobil Corp. resumed talks with Ghana Oil Co. as the oil supermajor nears a deadline to find a local partner for the exploration of crude at an offshore field, according to people familiar with the matter. Talks between Exxon and...
Nigeria’s state oil firm NNPC has extended its crude-for-product swap contracts, the country’s main avenue to meet the bulk of its fuel needs, until June 2019, sources familiar with the matter said. Despite having a refining capacity of about 445,000...
At least five oil consortiums said they were considering a proposal from the state-run Nigeria National Petroleum Corp. to prolong a crude-for-fuels swap program until the middle of next year, people familiar with the matter said. Extending the swap would...
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