Plans for five countries in East Africa to adopt cleaner fuel standards in 2015 are likely to help absorb excess low-sulphur oil products coming out of Middle East and Indian refineries, where new capacity is being added, industry sources said.
Westinghouse Electric Company said it had filed an interdict in a South African court to reopen the bidding process for a contract awarded to French rival Areva to replace six steam generators at a nuclear power plant.
Algeria will launch a new five-year investment plan worth $262 billion to boost domestic production and move its economy away from reliance on oil and gas, the government said.
British gas company BG Group has produced higher-than-expected flows of gas from a test well off the coast of Tanzania, boosting the financial viability of its planned liquefied natural gas (LNG) export terminal in the east African country.
Platinum producer Lonmin aims to cut around 5,700 jobs, about 21 percent of its South African workforce, as part of a drive to restore profits after a five-month wage strike this year, sources familiar with the plan said.
A second tanker started loading oil at Libya's Es Sider port, state-run National Oil Corp (NOC) said today, as the country's biggest crude export terminal swung back into action after being closed for a year.
More than $30 billion will be invested initially in Mozambique's natural gas sector to build capacity to produce 20 million tonnes per year of liquefied natural gas (LNG), with the first exports due to start in 2018, the national oil company said.
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