The African Petroleum Producers’ Organization (APPO) is putting the finishing touches to establish the Africa Energy Bank (AEB) that will offer alternative funding source for oil and gas projects on the continent after international financing institutions have started scaling back their funding, citing stringent conditions and environmental concerns. Speaking at a recent Nigeria International Energy […]
Turkish explorations offshore Somalia led to the discovery of commercially viable crude oil, estimated at 20 billion barrels. Turkey and Somalia had signed a deal under which Turkey controls 90% of oil and gas output rights. The deal triggered criticism for its unfavorable terms for Somalia, a war-torn and cash-strapped country. Somalia’s President Hassan Sheikh […]
The first Ministerial Meeting of Atlantic African States held at the initiative of Morocco ended Wednesday with the adoption of the “Rabat Declaration”. In this Declaration, the Ministers of the Atlantic African States welcomed King Mohammed VI’s vision to make the Atlantic African area a pragmatic and relevant inter-African framework for cooperation, as well as […]
