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Egypt gets $12bn investment plan from BP and DEA

British Petroleum (BP) and Russian-owned DEA have agreed a partnership investment of $12 billion in Egyptian gas fields in the West Nile Delta with the hope of producing five trillion cubic feet of gas resources and 55 million barrels of condensates when the project is completed in 2017. The investment plan is being described as […]

Africa needs strong voice on global financial architecture reform — UNECA expert

Africa’s position on the global stage needs to be strengthened to allow the continent to fully participate in discussions on G20 initiatives such as the Common Framework, according to Hanan Morsy, Deputy Executive Secretary and Chief Economist at the United Nations Economic Commission for Africa (UNECA). The Africa High-level Working Group on Global Financial Architecture […]

Libya : Rebels to handover ports after Ramadan

The Barqa rebels, found in eastern Libya, that are in charge of Libya’s largest oil-export terminal are willing to hand it over to the government if the new parliament takes office. Legislative elections were held last week and results are expected to be announced in a fortnight. The rebel group controlled four oil ports but […]