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C.Africa

C.Africa
2017, December, 15, 13:15:00

AFRICA NEEDS GOOD PRICE

BLOOMBERG - The region’s median government debt level will probably exceed 50 percent of gross domestic product this year from 34 percent in 2013, while the cost of servicing the liabilities will average almost 10 percent compared with half that four years ago, the International Monetary Fund said.

C.Africa
2017, November, 22, 11:05:00

NIGERIA & CHEVRON PROJECT &1.7 BLN

Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have executed the second and final phase of an Alternative Financing Agreement that would increase crude oil production in the country by about 39,000 barrels per day.

C.Africa
2017, November, 1, 13:05:00

SHELL SELLS GABON $628 MLN

Royal Dutch Shell plc (Shell), through its affiliates, has completed the sale of its entire Gabon onshore oil and gas interests to Assala Energy Holdings Ltd. (Assala Energy) a portfolio company of The Carlyle Group (CG: NASDAQ), for a total of USD $628 million including amount equivalent to interest.

C.Africa
2017, September, 15, 08:50:00

NIGERIA NEEDS TIME

Emmanuel Kachikwu, Nigeria’s minister of state for petroleum resources, told the Financial Times that the west African nation’s energy sector was still suffering from years of violent disruptions and needed more “recovery time” before joining a supply deal agreed last year between some of the world’s biggest oil producers.

C.Africa
2017, September, 4, 12:25:00

NIGERIA'S OIL PRODUCTION: 2.2 MBD

The figure of around 2.2 million to 2.3 million b/d includes about 300,000 to 400,000 b/d of condensates, which implies that its current crude oil production is at the coveted 1.8 million b/d mark.

C.Africa
2017, August, 24, 14:00:00

SHELL STARTS IN NIGERIA

The Shell Petroleum Development Company of Nigeria Ltd joint venture has started production at Gbaran-Ubie Phase 2, a key project in Nigeria’s Niger Delta region.

C.Africa
2017, June, 1, 19:05:00

NIGERIAN OIL TO INDONESIA

Indonesia, which produces around 730,000 b/d of crude, relies on imports to meet domestic demand of 1.4 million b/d, with Nigeria accounting for 18% of oil imports.

C.Africa
2017, May, 6, 16:55:00

NIGERIAN OIL: 2 MBD

Nigeria’s oil production level has recovered to 2 million bopd, Nigerian National Petroleum Corporation (NNPC) Group Managing Director Maikanti Baru said late on Tuesday.

C.Africa
2017, April, 12, 18:30:00

KENYA'S GDP UP TO 5.5%

“Consistent with its robust performance in recent years, once again economic growth in Kenya was solid in 2016, coming in at an estimated 5.9%—a five-year high. This has been supported by a stable macroeconomic environment, low oil prices, earlier favorable harvest, rebound in tourism, strong remittance inflows, and an ambitious public investment drive,” said Diarietou Gaye, World Bank Country Director for Kenya. “Nonetheless, Kenya is currently facing headwinds that are likely to dampen GDP growth in 2017.”

C.Africa
2017, March, 31, 18:35:00

IMF HAS NIGERIA

With oil receipts dominating fiscal revenue and exports, the Nigerian economy has been hit hard by low oil prices and falling oil production. The country entered into a recession in 2016, with growth contracting by 1.5 percent. Annual inflation levels doubled to 18.6 percent, reflecting hikes in electricity and fuel tariffs, a weaker naira and accommodating monetary conditions (broad money expanding at 19 percent y-o-y). Even with a significant under-execution in capital spending, the consolidated fiscal deficit increased from 3.5 percent of GDP in 2015 to 4.7 percent of GDP in 2016, because of significant revenue shortfalls.

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