Eni secures two blocks in Egypt’s oil and gas exploration round
In addition, the company clinched a third block in the Mediterranean Sea, partnering with BP (BP.L) and QatarEnergy (QATPE.UL)
Nigeria’s external debt surges amidst naira depreciation
Earlier this year, the Central Bank of Nigeria (CBN) implemented a series of foreign exchange policy adjustments that resulted in a significant depreciation of the naira’s value.
Turkish official: Our trade with Africa exceeded 40 billion dollars
The trade volume between Turkey and the African continent exceeded 40 billion dollars in 2022
Nigeria aims for 2.1 M bpd oil output by December 2024
Oil production reached 1.41 million barrels per day (bpd) in August, marking an 8% increase from July, as indicated by data from the petroleum regulator.
Russian government imposes limitations on export of gasoline, diesel
Temporary restrictions come in bid to stabilize fuel prices in domestic market, says government’s press service
Oil prices down more than $1 ahead of US Fed interest rate decision
The Federal Reserve’s interest rate decision is scheduled to be announced at 1800 GMT
Egyptian pharmaceutical exports to Sudan target 300% increase
Egypt’s pharmaceutical exports to Sudan reached 37 million dollars in 2022, according to Maged George, the President of the Export Council for Pharmaceuticals and Medical Supplies
Istanbul set to host Turkish-African business summit next month
4th Turkey-Africa Business and Economic Forum set for Oct. 12-13 prioritizing energy, infrastructure, agriculture, healthcare and tourism
IMF approves $1.3 billion loan for earthquake-stricken Morocco
Morocco struck by magnitude 7 earthquake, killing nearly 3,000 people, according to official figures
X platform transitioning to monthly user charges
Move aims to get rid of ‘vast armies of bots,’ says X/Twitter owner Elon Musk.
S. Africa reveals cost-cutting measures ahead of November budget
The treasury underscored that tighter financial conditions and a public wage settlement higher than initially budgeted for have made these new cost-saving measures necessary.
Fuel prices hit all-time high in Kenya
Many Kenyans have accused President William Ruto of failing to fulfill a series of promises he made during his campaign for last year’s election, in which he vowed to enhance the well-being of the average citizen.
Despite the war, Sudan produces 2 tons of gold worth $124 million
The financial value of this production reached $124 million, with the government’s share being $25.5 million
Nigeria grants 42 contracts as part of a delayed flaring program
The program, initially introduced in 2016 to auction rights for capturing and selling flared gas, encountered multiple delays and failed to meet its target of awarding the contracts by December 2022.
Libyan oil ports resume operations after deadly storm
According to Al Omran, the eastern ports of Brega, Es Sidra, and Ras Lanuf were reopened on Tuesday, and the port of Zueitina resumed operations on Wednesday morning.
OPEC’s oil supply rises in August
Global oil production remains broadly unchanged averaging 100.7 million barrels per day, according to OPEC report
EU downgrades economic outlook as Germany slips into recession
EU economy to grow with ‘reduced momentum,’ says European Commission
Egypt inflation hits record high of nearly 40%
Food and beverage prices alone witnessed a staggering 71.9 percent rise compared to August 2022
Rice prices at a 15-year high but global food prices down in August
Food prices down 2.1% month-on-month in August, while rice prices up 9.8%
G20 grants African Union equal membership status to the EU
G20 grouping of nations has agreed to grant permanent membership to the African Union
Nigeria to host Africa Internet Governance Forum
The event will showcase distinguished speakers, policymakers, industry experts, and thought leaders hailing from various regions in Africa and beyond.
Zambia’s largest copper mine avoids liquidation, gets much needed cash
Vedanta has further committed to an annual investment of $20 million in the local mining community.
Oil prices decline as traders capitalize on recent profits
Data showing recovery in US and Chinese economies along with reports of further supply cuts by Saudi Arabia and Russia supports price rises
Slight increase in oil prices amid optimism for US demand
Oil prices slightly up with demand optimism in US
