PARIS (Reuters) – French oil and energy company TotalEnergies has begun production from the Ikike field in Nigeria, which is expected to deliver peak production of 50,000 barrels of oil equivalent per day by the end of 2022, it said on Monday. The European Commission’s deputy director general for its energy department this month said …
TotalEnergies begins production from Ikike field in Nigeria Read More »
(Reuters) – A malfunction in the Medgaz underwater natural gas pipeline between Algeria and Spain has caused a temporary suspension of gas supplies to Spain on Sunday, Algerian state media said, citing a statement from state oil and gas producer Sonatrach. The malfunction occurred on the Spanish side, and Spain is working on fixing it …
Algeria’s Sonatrach: Spain working to fix problem in Medgaz pipeline – state media Read More »
By MacDonald Dzirutwe LAGOS (Reuters) – The European Union is seeking additional gas supplies from Nigeria as the bloc prepares for potential Russian supply cuts, Matthew Baldwin, deputy director general of the European Commission’s energy department, said on Saturday. Baldwin was speaking in Nigeria where he held meetings with officials from Africa’s largest oil producer …
EU looks to replace gas from Russia with Nigerian supplies Read More »
Khartoum (Reuters) – Petrol prices in Sudan rose on Saturday by 90 Sudanese pounds to 760 pounds ($1.34) per litre, the country’s oil ministry said in a statement. Diesel prices increased by 108 pounds to 748 pounds per litre. There were repeated fuel price hikes last year as Sudan completed a process of phasing out …
Prices of petrol and diesel rise in Sudan – ministry statement Read More »
MAPUTO (Reuters) – The central bank of Mozambique has extended the suspension of Standard Bank from the country’s Interbank Foreign Exchange Market (MCI) for another year, the Bank of Mozambique said on Friday. The South Africa-based lender was fined $4.6 million in July 2021 by the Mozambique’s central bank for engaging in “fraudulent activities” and …
Mozambique central bank extends suspension of Standard Bank from forex market Read More »
(Reuters) – Ghana’s balance-of-payments deficit widened to nearly $2.5 billion in June from $935 million in the first quarter, data from the central bank showed on Friday. It also showed foreign reserves fell to below $3.6 billion from $5.1 billion in the same period. The figures underscore the parlous state of Ghana’s economy, which has …
Ghana balance-of-payments deficit hits nearly $2.5 billion in June Read More »
(Reuters) -South Africa’s rand strengthened against the dollar, a day after the central bank delivered the biggest rate hike in nearly two decades to try to get inflation under control. At 1617 GMT, the rand traded at 16.8100 against the dollar, 1.22% stronger than its previous close, recovering losses from earlier in the day. The …
South African rand strengthens against dollar, Eskom suspends power cuts Read More »
(Reuters) – South African state power utility Eskom said it would suspend scheduled power cuts from Saturday as the generation system has recovered sufficiently. From late June Eskom has implemented regular electricity outages that have prompted public anger and hampered businesses. “While we are able to suspend loadshedding at this point, Eskom cautions that the …
South Africa’s Eskom to suspend power cuts from Saturday Read More »
ABUJA (Reuters) – Nigeria spent 1.94 trillion naira ($4.7 billion) to service its debt in the first four months of this year, higher than public revenue of 1.67 trillion naira generated during the same period, a ministry of finance document published on Friday showed. Nigeria’s debt costs are usually below revenue. For decades, the country …
Nigeria’s debt costs total $4.7 billion in Jan-April, exceeding revenue Read More »
RABAT (Reuters) – Morocco’s consumer price index rose by 7.2% year-on-year in June, the high commission for planning said on Friday. Food prices rose by 10.6% while non-food inflation increased by 4.9%. On a month-on-month basis, the index rose by 0.5%. Core CPI, which excludes goods subject to price volatility, increased 6.4% year-on-year and 0.8% …
