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Angola: new Cabinda oil refinery secures funding led by Gemcorp, AFC, Afreximbank

Gemcorp Holdings Ltd. (GHL), Africa Finance Corporation (AFC) and African Export-Import Bank (Afreximbank) have announced the financial close of Cabinda Oil Refinery in Angola with a US$335-million project financing facility. The announcement comes as the project spearheaded by Gemcorp, a UK-based asset management company, to build a refinery in Angola has been well behind schedule, […]

Morocco: Police seize 121,600 counterfeited facemasks, arrest profiteer

Moroccan police have seized over the weekend in Casablanca 121,600 counterfeited facemasks before their packaging and labeling as genuine branded products of well-known companies selling medical supplies. A 32-year old man was arrested for his involvement is these unsafe products that pose great additional risks to consumers during the covid-19 pandemic. The fraudster was captured […]

Libya: Operations onshore Sirte Basin transferred to new company

Operations onshore Libya’s Sirte Basin were transferred by Wintershall Aktiengesellschaft (WIAG) to Sarir Oil Operations (SOO), a newly established joint operating company with the National Oil Corporation (NOC). The transfer concerns operatorship of Contract Areas 91 (former Concession 96) and 107 (former Concession 97), wintershall said in a press release. After the signing of two […]