Category: INTERNATIONAL
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Shell shuts Trans Niger pipeline due to leak
Shell’s Nigerian subsidiary has shut its 180,000 barrel-per-day Trans Niger pipeline in Nigeria due to a leak, the company said in a statement on Monday, effectively shutting in exports of Bonny Light crude oil. The Shell Petroleum Development Company (SPDC) said it shut the pipeline on July 21 after a leak at B-Dere, Ogoniland.…
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Tanzania tax row knocks Acacia Mining shares
Acacia Mining’s shares fell for a sixth straight session on Tuesday, a day after the gold miner was hit with a tax bill of more than $190 billion by the Tanzanian government. Shares in the London-listed miner closed 8.5 percent lower at 169 pence, having had more than two-thirds wiped of their value since a…
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SA Chamber of Mines to challenge mining rights freeze
South Africa’s Chamber of Mines has lodged an urgent court application to prevent the mines minister from suspending the issuance of new mining and prospecting rights, the industry body said on Tuesday. “The industry has no option but to proceed with court action to ensure that the minister acts within the law,” the chamber said…
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Kenya: T-bill uptake plunges as subscribers go for bonds
Treasury bills were for the second week running under-subscribed due to reduced liquidity in the market. During last week’s auction, the overall subscription fell to 31.25 per cent from 33.6 per cent recorded the previous week. Market analysts said this was triggered by investors shifting focus to the Sh30 billion 10-year bond currently on offer.…
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Zimbabwe: Blanket Gold Mine Says Production Up 9pct
Production at Blanket Gold Mine rose by over eight percent during the first half of this year despite some teething infrastructure challenges, management has revealed. The Gwanda based mine is 49-percent owned by Canada’s Caledonia Mining Corporation which was one of the first investors in the sector to comply with the country’s empowerment laws. The…
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Zimbabwe: Come and Help Revive the Economy, Mugabe Appeals to Zimbabweans Abroad
Zimbabwean President Robert Mugabe on Friday pleaded with his country’s skilled workers living in the diaspora to return home so that they could help in reviving the southern African country’s floundering economy. This came at a time when an estimated four million Zimbabweans were living outside the country after fleeing economic problems and alleged political…
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Nigeria: Foreign Reserves Hit U.S.$30.5 Billion On Rising Oil Prices
The nation’s foreign reserves reached U.S.$30.5 billion last week as a result of increased global oil prices, checks by LEADERSHIP on the Central Bank of Nigeria’s website have revealed. Data from Organization of Petroleum Exporting Countries (OPEC) revealed that basket of 14 crudes stood at $47.48 per barrel last week from $45.21 a barrel it…
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Nigeria: We’re Interested in Nigeria’s Oil, Gas – Britain
Britain has expressed its interest in Nigeria’s oil and gas industry. It expressed its readiness to invest in pipeline infrastructure, renewable energy, gas and power of the Nigerian Oil and Gas Industry. British High Commissioner, Mr. Paul Arkwright, made this promise when the Group General Manager, Group Public Affairs of the Nigerian National Petroleum Corporation,…
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Tunisia: Commission Approves Disbursement of €100 Million in Assistance to Tunisia
The European Commission, on behalf of the EU, has today approved the disbursement of a €100 million loan to Tunisia. This represents the third and last tranche of the €300 million Macro-Financial Assistance (MFA-I) programme to Tunisia, adopted in May 2014. The MFA-I programme is part of the EU’s comprehensive efforts to help Tunisia respond…
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Egypt: China Agrees to Import Grapes From Egypt After 2 Years Negotiations
The Egyptian authorities said on Thursday that China has agreed to import grapes from Egypt after two years of intense negotiations. The announcement was made by the Egyptian Agriculture Export Council in a press release. Citrus is also among the fruits being exported to China, it added. Negotiations are underway to allow more Egyptian agricultural…