Ethiopia: Petronas suspends exploration work in Ogaden

(HornTrade) - The Malaysian oil and gas giant, Petronas, has suspended exploration work in the Ogaden basin due to security problems.

According to reliable sources, the company suspended work after Jason Read, a 39-year-old British geologist working for IMC on oil exploration, was killed last April by unidentified gunmen in Danot town, Warder zone. No group took the responsibility for the daylight crime.
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Djibouti to install thermal generators for 75 MW

Djibouti has received a $30 million loan, part of the money it needs to put up a 75 megawatt thermal electricity plant, the head of its power utility told Reuters.

It is waiting for another $100 million but had agreements with the Kuwait Fund and Saudi Fund for $30 million each, and the Islamic Development Bank and OPEC would provide another $40 million each.
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Safmarine announces new Horn of Africa Service

The new service will be Safmarine’s first direct shipping service between Far East, Arabian Gulf and the Horn of Africa

Africa shipping specialist Safmarine has announced the launch of its first direct, fully-containerised shipping service between the Far East, the Arabian Gulf and the Horn of Africa. Read the rest of this entry »

East Africa’s Hydrocarbons: Rising Interest, Growing Business Opportunities

Smaller exploration companies take a chance on East Africa’s under-explored areas, but Tullow’s successful exploration in Uganda is now drawing big oil firms to the region. Even if missing out on oil finds, Kenya still stands to benefit from the sector’s development.

Global Pacific and Partner’s East Africa Petroleum Week in Nairobi on 11 and 12 May 2010 was well attended: Tullow’s exploration success in Uganda has put East Africa, previously marginal territory, on the map and there is clearly rising interest in the region: One speaker it interests in Kenya commented that East Africa has ‘excellent hydrocarbons potential … and we are keen to lock up acreage positions before the industry starts recognising the potential.’ Read the rest of this entry »

War And Business? The Telecom Case In Somalia

Despite the violence, a serious humanitarian crisis and an over 20 year conflict devastating the country, Somalia remains a thriving market for some businesses, reveals the Wall Street Journal in an article entitled “Telecom Firms Thrive in Somalia despite War, Shattered Economy”. Read the rest of this entry »

New Somali shilling arrives in Mogadishu

Mogadishu (HOL) – The Somali Transitional Federal Government brought home its new Somali shilling Friday. A private aircraft was chartered from Khartoum to Aden Adde International Airport in Mogadishu to transport the large quantity of new bills. Read the rest of this entry »

Ethiopia inaugurates $500 million hydro-power plant

Ethiopia inaugurated on Friday 14th of May 2010,  a hydro-power project at a cost of approximately $ 500 million and an energy capacity of 460 megawatts.  The hydro-power Project for Multiple Beles, was built in the Amhara Regional State in Ethiopia, at the Tana River, a tributary of the River Nile. Read the rest of this entry »

Congress, USTR Kirk Celebrate First Decade of African Trade Law

A landmark piece of trade legislation celebrated its 10th birthday on Capitol Hill May 12 with a party, a cake and a large group of proud supporters.

U.S. Trade Representative (USTR) Ron Kirk presided at a ceremony heralding the 10th anniversary of the enactment of the African Growth and Opportunity Act (AGOA) trade preference program. In attendance were several past and Read the rest of this entry »

Lamu Port ‘dream’ on the way to reality

To many, the reality of what is coming up in Lamu town is too good to be true.

Never again has Kenya seen a project of such magnitude unfold before their eyes. But the Government Chief Consultant of the Lamu-Addis Ababa-Juba-Kigali corridor project, Dr Mutule Kilonzo, says you can now hold your breath. Read the rest of this entry »

Ethiopia: Billions in Chinese Loans for Rail, Ships, Housing

An Ethiopian delegation, led by Sufian Ahmed, minister of Finance and Economic Development (MoFED), returned from China after a successful negotiation for loans on the order of billions of dollars for large government projects, which are in the pipeline. Read the rest of this entry »