Business

Mon,27Feb2017

Business

Equatorial Guinea says it expects decision soon on OPEC membership bid

Russian Minister of Energy Alexander Novak, left, and Khalid Al-Falih, Minister of Energy, Industry and Mineral Resources of Saudi Arabia attend a news conference after a meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria, December, 2016. Photo: Ronald Zak/AP/SIPAAfrica's number three oil producer Equatorial Guinea has held "fruitful" discussions and expects a decision soon on an offer to join the Organisation of the Petroleum Exporting Countries (OPEC), the country's energy minister told Reuters on Wednesday.

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Africa Finance Corp issues $150 million debut sukuk

 Nigerian Muslims offer prayers on the first Friday of Ramadan at the central Mosque in Lagos, Nigeria, Friday, June 10, 2016. Photo: Sunday Alamba/AP/SIPAAfrica Finance Corp (AFC) said it issued a three-year $150 million sukuk, becoming the first African government-backed entity to sell an Islamic bond.

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Egypt says committed to repaying $3.5bn to foreign oil firms

An Egyptian driver rests on his car as he refuels it at a gasoline station in Cairo. Photo: Amr Nabil/AP/SIPAEgypt is committed to repaying the $3.5bn it owes in arrears to foreign oil companies but a foreign currency shortage has made the drawing down of those debts more difficult, petroleum minister Tarek El Molla said on Tuesday.

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Tanzania hopes for LNG plant agreement with oil majors by 2018

The Royal Dutch logo at a petrol station in London. BG Group, which was recently acquired by Shell, is part of a coalition of companies planning to build an LNG export terminal in Tanzania. Photo: Kirsty Wigglesworth/AP/SIPATanzania hopes to reach an agreement with international oil companies in 2018 paving the way for the construction of a liquefied natural gas (LNG) plant, part of a bigger plan for a new export terminal, a senior official said on Tuesday.

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Nigeria must not scare away MTN, says communications minister

In this file photo taken on 17 November, 2015, cars drive past an MTN advertisement on the road in Lagos, Nigeria. Photo: Sunday Alamba/AP/SIPANigeria must not scare away MTN, its minister of communications said, as lawmakers investigate alleged illegal money transfers just three months after the government fined Africa's biggest telecoms firm over $1 billion.

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World's largest brewer offers voluntary severance in South Africa

 Bottles of beers on sale in London. Budweiser maker is Anheuser-Busch InBev. Photo: Kirsty Wigglesworth/AP/SIPAAnheuser-Busch InBev, the world's largest brewer, has offered more than 1,000 employees in South Africa voluntary severance following its merger with SABMiller, the Business Day newspaper reported on Monday, citing an internal memo.

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Ghana's new government says will review $918 million IMF deal

Woman help each other as they collect water from the Dikunani dam in Savelugu, Ghana, in this 2007 file photo. Photo: OLIVIER ASSELIN/AP/SIPAGhana's new government plans to review its $918 million programme with the International Monetary Fund because it may need more money for its spending plans, a minister-designate said on Friday.

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