(Reuters) -Egypt’s Petrojet has been awarded a $1 billion preliminary contract to develop the second phase of the Hassi Bir Rekaiz oil field project in Algeria, Egypt’s ministry of petroleum said on Monday. (Reporting by Ahmed Elimam)
KAMPALA (Reuters) -Uganda plans to borrow $2.34 billion from several lenders, including the World Bank, Standard Chartered and Citi, to finance infrastructure projects in energy and other sectors, according to a parliamentary document seen by Reuters. The country’s rising public debt has triggered concern among opposition politicians, analysts and the central bank, which has warned …
Uganda plans $2.34 billion borrowing for infrastructure projects – parliament document Read More »
TRIPOLI (Reuters) -Libya’s Zueitina Oil Company has contained a ‘limited’ leak on a 16-inch line connecting the Sabah and Zella oilfields, with no environmental impact reported, Libya’s state-run National Oil Corp (NOC) said in a statement on Monday. “Technical teams repaired the leak site without recording any environmental impact or damage to nearby agricultural areas”, …
Libya’s Zueitina oil company contains ‘limited’ pipeline leak, statement says Read More »
By Ahmed Eljechtimi RABAT (Reuters) -Morocco’s 2026 budget will allocate 140 billion dirhams ($15 billion) to health and education, up 16% from last year, the royal palace said in a statement on Sunday. Improving health and education services was a key demand by youth protesters who demonstrated across Morocco in recent weeks. The proposed spending …
Morocco to boost health, education spending to $15 billion in 2026 Read More »
(Reuters) -U.S. Secretary of State Marco Rubio discussed avenues for expanding U.S. participation in Liberia’s critical minerals sector in a meeting this week with Liberian Foreign Minister Sara Beysolow Nyanti, the State Department said on Friday. Rubio and Nyanti met in Washington on Thursday to discuss deepening U.S.-Liberia bilateral relations and expanding U.S. commercial engagement …
(Reuters) -S&P Global has placed Madagascar’s ‘B-/B’ ratings on watch with negative implications on Friday, citing political uncertainty that could undermine growth, delay fiscal consolidation efforts, and restrict access to external financing. “We think the political uncertainty will hinder policymaking and reform implementation in the near term, consequently weighing on investment, growth, and fiscal consolidation …
S&P places Madagascar on watch negative due to heightened political instability Read More »
(Reuters) -Global credit ratings agency Moody’s downgraded Botswana’s rating to ‘Baa1’ from ‘A3’ on Friday, citing the government’s challenges in adjusting to a structural downturn in the diamond industry and increasing government debt. “The economy remains heavily reliant on capital-intensive diamond mining; diversification efforts lag due to reform delays, while exposure to climate shocks persist,” …
Moody’s cuts Botswana’s rating by a notch to ‘Baa1’ amid diamond industry slump Read More »
By Stephen Culp NEW YORK (Reuters) -Wall Street stocks advanced and U.S. Treasury yields rebounded on Friday as investors assessed the health of regional banks and President Donald Trump said his face-to-face trade talks with Chinese President Xi Jinping were still on. All three major U.S. stock indexes closed in positive territory after struggling for …
US stocks end higher, Treasury yields rise on easing credit, trade worries Read More »
By Erwin Seba HOUSTON (Reuters) -Oil prices managed small gains on Friday but were headed for a weekly loss of nearly 3% after the IEA forecast a growing glut and U.S. President Donald Trump and Russian President Vladimir Putin agreed to meet again to discuss Ukraine. Brent crude futures settled at $61.29 a barrel, up …
Oil set for weekly loss as global conflicts ease, signs of glut emerge Read More »
By Isaac Anyaogu LAGOS (Reuters) -Nigeria’s Dangote Refinery said on Friday that recent reductions in crude oil inflows were a strategic response to elevated global prices, not the result of operational failures. The company made the comments during a media tour aimed at addressing concerns over crude volumes and potential outages at the facility. Edwin …
Nigeria’s Dangote Refinery says crude inflow reduction driven by high prices, not faults Read More »
