First Independent Mena Newspaper
The African Export-Import Bank (Afreximbank) is in advanced discussion with Senegal’s oil refiner to raise $500 million in syndicated finance, a senior official of the bank told Reuters. The funds will be used to upgrade the company’s old refinery. Société Africaine de Raffinage (SAR), is the oldest refinery of West Africa. The company has recently […]
The wind energy Industry in Morocco is expected to create 75,000 additional jobs and contribute $1.2 billion in the country’s economy during the four coming years, according to a report released by Global Wind Energy Council (GWEC). A country which installs 1 GW of onshore wind energy capacity per year could unlock a range of […]
Morocco rises one spot to 7th global ranking in this year’s Climate Change Performance Index (CCPI). As in the previous two years, Morocco rates high in three main CCPI categories: Green house gas (GHG) emissions, energy use and climate policy. Morocco has been at the forefront of reducing its GHG emissions and it strengthened this […]
The Ugandan government has announced its plan to construct the country’s 1st — and likely Africa’s 3rd — nuclear facility, the Buyende Nuclear Power Plant, in collaboration with China National Nuclear Corporation (CNNC) that would assist Uganda in developing capabilities for peaceful use of atomic energy. Currently in Africa, only South Africa has an active […]
London-listed Chariot, an Africa-focused transitional energy company, has completed the Front-End Engineering and Design (FEED) on the key components of its flagship Anchois gas development project offshore Morocco and has alled for Engineering, Procurement and Construction (EPC) commercial proposals. Chariot began the FEED for the Anchois development in June 2022, after raising $25.5 million, the […]
Egypt and Greece are working to hire an international consultancy office to carry out feasibility studies for the $4 billion electricity interconnection project between the two countries, Asharq Business reports, citing 3 unnamed sources familiar with the matter. “Selecting a consultant is the most important step of the project,” one of the sources said, adding […]
German project developer Conjuncta, Egypt’s energy provider Infinity, and the United Arab Emirates’ Masdar have signed an agreement to set up an international consortium for a hydrogen project in Mauritania requiring a total investment of $34 billion. The project will have a production capacity of up to 8 million tons of green hydrogen or other […]
Namibia has made its third light oil discovery 270 km off its coast in the Orange Basin, though experts say the southern African country will only reap the rewards of these discoveries in a few years. The drilling process in the Orange Basin started in December 2022 and was successfully finished in recent days, according […]
China Natural Resources (CNR) has acquired Zimbabwe’s Williams Minerals lithium mine from Feishang Group and Top Pacific for $1.75 billion, the aim being to strengthen the Chinese company’s position in the lithium market and increase its capacity to supply the critical resource to its customers. This strategic move by CNR was motivated by the rising […]
Russia has found alternative markets to the European space as North African countries now line up for purchases of the Russian oil products despite western sanctions, Wall Street Journal (WSJ) has revealed. The US media outlet in a report notes that Morocco, Algeria, Egypt and Tunisia have stepped forward to become voracious buyers of its […]