Africa is entering the oil-hunt spotlight as drillers, flush with cash after crude’s recovery, are turning their attention back to the continent’s potentially vast resources. The world’s biggest companies from Exxon Mobil Corp. to Royal Dutch Shell Plc and BP Plc are setting up camp across Africa. Armed with stronger balance sheets and higher crude…
Tema LNG Terminal Company has signed an agreement with the China Harbour Engineering Company (CHEC) for the construction of a $350 million liquefied natural gas (LNG) terminal in Tema. The LNG Terminal is being constructed on the back of a 12-year gas supply agreement that was executed between the Ghana National Petroleum Corporation (GNPC) and Rosneft,…
Tema LNG Terminal Company has signed an agreement with the China Harbour Engineering Company (CHEC) for the construction of a $350 million liquefied natural gas (LNG) terminal in Tema. The LNG Terminal is being constructed on the back of a 12-year gas supply agreement that was executed between the Ghana National Petroleum Corporation (GNPC) and Rosneft,…
The first trans-border gas pipeline in East Africa is set for construction. This is after Tanzania and Uganda signed a deal for the construction of a natural gas pipeline at the end of a three-day Joint Permanent Commission Summit held in Kampala. Confirming the reports was Tanzania Petroleum Development Corporation (TPDC) managing director Kapuulya Musomba who…
The first trans-border gas pipeline in East Africa is set for construction. This is after Tanzania and Uganda signed a deal for the construction of a natural gas pipeline at the end of a three-day Joint Permanent Commission Summit held in Kampala. Confirming the reports was Tanzania Petroleum Development Corporation (TPDC) managing director Kapuulya Musomba who…
Kenya’s President Uhuru Kenyatta signed a US $232m deal with two US companies; the US Overseas Private Investment Corporation (OPIC) and Kipeto Wind Energy Company that will see the construction of and operation of 100MW grid connected wind power plant. According to President Kenyatta, the plant which is will be located south of Nairobi will provide…
Discovery Ltd has agreed to buy banking group FirstRand’s 25.01 percent stake in a financial joint venture for $120 million, paving the way for the South African insurer to launch its own bank later this year. Discovery, which offers health, life and car insurance, was granted a South African banking licence last year, but only…
Chinese energy firm TBEA will invest in a 180 million euro ($209 million) hydropower project in Gabon alongside the West African country’s sovereign wealth fund, a Gabonese official said on Saturday. Construction will begin “pretty soon” on the project, which will have a power generation capacity of 70 megawatts in the first phase, Liban Soleman,…
Chinese energy firm TBEA will invest in a 180 million euro ($209 million) hydropower project in Gabon alongside the West African country’s sovereign wealth fund, a Gabonese official said on Saturday. Construction will begin “pretty soon” on the project, which will have a power generation capacity of 70 megawatts in the first phase, Liban Soleman,…
President Xi Jinping told African counterparts and business leaders Monday that China’s investments on the continent have “no political strings attached”, even as Beijing is increasingly criticised over its debt-heavy projects abroad. Xi spoke before the start of a two-day China-Africa summit that is expected to focus on his cherished Belt and Road initiative, a…