Oil and gas

January 17, 2018


ITFC signs $210 million agreement with Gambia government to support energy and agriculture

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group has signed a $210 million Framework Agreement with Government of The Gambia for financing over a three year period.

The agreement is to support key economic sectors, including energy, through the importation of refined petroleum products, and agriculture, through the importation of fertilizer and the provision of pre-export financing"...

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January 17, 2018


Algerian Sonatrach and Libyan NOC to jointly operate oilfields on mutual borders

Algerian Sonatrach signed Monday an agreement with the Libyan National Oil Corporation (NOC) to run a number of oilfields located on the borders between the two countries, according to a statement on the NOC website.

According to the agreement was a further step on the ground after a study that was carried out on 2006 concerning Al-Rar and Al-Wafaa oilfields that are located on the borders between Algeria and Libya. Al-Rar gas field is located on"...

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January 15, 2018


Enos Banda appointed CEO of Anergi

Enos Banda has been appointed Chief Executive Officer of Anergi, the major African power company established through the joint venture between Africa Finance Corporation and Harith General Partners.

Anergi was established through the merger of the power investments of AFC and Harith, the two pre-eminent institutional investors based in Africa, bringing their experience and expertise together to create a new entity that combines both renewable and"...

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January 10, 2018


Asia and Middle East: The Proven Drivers of Gas Demand Growth for Next 10 Years

All signs point to Asia leading the gas demand and continuing this upward trajectory for at least the next decade. Natural gas is still showing strong signs of becoming the world’s second most important source of energy over the next decade, according to Majid Jafar, CEO of Crescent Petroleum, the Middle East’s oldest private oil & gas company.

Examples of this trend are seen in both India and S. Korea. India’s Prime Minister"...

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January 8, 2018


IFC finances construction of Zambia’s large scale solar power plant

IFC, a member of the World Bank Group, has finalized financing for the construction of Zambia’s first large-scale solar power plant – the first project to be developed, tendered, awarded, and financed under the World Bank Group’s Scaling Solar program.

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January 8, 2018


Wärtsilä to supply power plant for West Africa’s largest electricity project

The technology group Wärtsilä is set to deliver a turnkey power plant to provide electricity for the Phase Two expansion of the Tasiast mine located in Mauritania.

The contract has been signed with Tasiast Mauritanie Ltd, a subsidiary of Kinross Gold Corporation, the Canada-based gold mining company. The order was booked in November 2017.

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January 3, 2018


Boehringer Ingelheim Demonstrates Continuous Commitment to Its Venture Fund and Fostering Innovation by More than Doubling Funding to 250 M€

(AETOS Wire)-- Boehringer Ingelheim today announced an increase in funding for its corporate venture fund, known as the Boehringer Ingelheim Venture Fund (BIVF), from EUR 100 to 250 million. The additional funds will be used to invest in promising early stage start-up companies, focusing on regenerative medicine, infectious diseases and immune oncology among others, as well as growing the portfolio in the U.S. and opening doors for the BIVF in digital health. The significant additional"...

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December 28, 2017


EFG Hermes seeks 400-500 megawatts renewable energy projects

Energy chief of the bank Bakr Abdel Wahab stated that within the upcoming three years, Egyptian investment bank EFG Hermes is looking to run renewable energy projects reaching 400 to 500 megawatts in the North African country.

By employing Vortex, a green firm, EFG Hermes is presently working on the renewable energy sector throughout Europe.

The chief declared 'we are thinking of establishing a holding company to manage energy projects, like Vortex, but in Egypt.'

The bank is"...

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December 23, 2017


National Oil Companies Of Algeria, Indonesia Sign Co-operation Agreement

Algeria's State-owned energy corporation, Sonatrach Group, has signaed agreement here with its Indonesian counterpart, Pertamina, to strengthen co-operation in the hydrocarbons field.

Signed on Thursday by Sonatrach chief executive officer Abdelmoumen Ould Kaddour and Pertamina CEO Manik Massa, the agreement follows a memorandum of understanding signed by the two oil groups in September 2016.

This agreement defines the trust of co-operation jointly agreed by the two groups and specifies the mechanisms"...

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