West Africa

Content from West Africa

Ghana approves US$3 billion Chinese loan

[img:Loan%20or_0.jpg|Rig involved in the
production of the first
oil from Ghana’s Jubilee
oilfield last December
]Accra, Ghana --- ESI-AFRICA.COM --- 29 August 2011 - The Ghanaian parliament has approved a US$3 billion Chinese loan, and the country's finance minister says the West African state is in talks with China's Exim bank for loans worth another US$6 billion.

Tullow Oil to invest US$4 billion in Ghana oil search

[img:Tullowd_0.jpg|This Tullow rig was
involved in the
production of the first
oil from Ghana’s
Jubilee oil field
]Accra, Ghana --- ESI-AFRICA.COM --- 25 August 2011 - Tullow Oil plc ‒ a U.K. explorer with the most licenses in Africa ‒ has announced that it may invest at least US$4 billion, in conjunction with its partners, to develop new oil fields off the coast of Ghana.

Senegal plans new power plants

[img:Electricity%20-%20Pic%201_0.jpg|The 60MW Kounoune
diesel power plant,
in Senegal
]Dakar, Senegal --- ESI-AFRICA.COM --- 24 August 2011 - The government of the West African state of Senegal says it is building and planning to build power plants to boost electricity capacity by as much as 1,288 megawatts, the newspaper Le Soleil reports.      

Ghana to debate US$3 billion Chinese loan

[img:Loan%20Fi_0.jpg|Existing oilfield
off the Ghanaian
coast
]Accra, Ghana --- ESI-AFRICA.COM --- 23 August 2011 - The Ghanaian parliament is to start a debate next Monday on a US$3 billion loan facility awarded by China Development Bank to the west African nation to finance infrastructure projects, including the oil and gas sector.

Ghana's deputy minister for information Samuel Okudzeto Ablakwa said Ghana's lawmakers had been recalled to approve a US$3 billion facility from the China Development Bank. The money was part of a total of US$13 billion in agreements signed in September 2010 between Ghana and the China Development Bank and China Exim Bank.

Ghana and Saudi Arabia in joint oil and gas exploration

[img:Explore%20-%20r_0.jpg|Oil rig in the
Jubilee oilfield off
the coast of Ghana
]Accra, Ghana --- ESI-AFRICA.COM --- 19 August 2011 - Ghana National Petroleum Corporation (GNPC) has signed a memorandum of understanding with Saudi Arabian firm Petro-Saudi International to jointly explore, develop and produce oil, gas and related services in Ghana.

Announcing this in a statement released here, GNPC said the two companies would explore joint ventures in oil and gas exploration, development and production; oilfield services and infrastructure, but it gave no further details.

Chinese to help fund Ghana’s oil drive

[img:Ghana%20-%20P_0.jpg|British oil company
Tullow Oil is making
considerable progress
in its development of
Ghana’s Jubilee oilfields
]Accra, Ghana --- ESI-AFRICA.COM --- 17 August 2011 - The government of Ghana is to borrow US$800 million from the state-owned China Development Bank to develop its natural gas infrastructure, and the first gas could be expected by the end of 2012 or early 2013.

China signs to finance massive hydroelectric dam in Guinea

[img:Guinea%20-%20r_0.jpg|Hydroelectric power
station in Guinea
‒ now Kaleta will
add to the power
output
]Conakry, Guinea --- ESI-AFRICA.COM --- 15 August 2011 - The Government of Guinea and the China International Water & Electric Corporation have signed an agreement for the construction of a US$526 million hydroelectric dam in the West African country.

Senegal obtains loan to build new power plants

[img:Senegal%20db_0.jpg|This oil power plant
was moved from Turkey
to Senegal
]Dakar, Senegal --- ESI-AFRICA.COM --- 28 July 2011 - The West African Development Bank (BOAD) has announced that it has offered Senegal a 57 billion CFA francs (US$125.5 million) loan to help the West African government finance power projects.

Revealing this in a state TV broadcast here, BOAD president Christian Narcisse Adovelande said

Tullow Oil advances on Ghana Stock exchange

[img:Tullow%20-%20Pic%201_0.jpg|Tullow Oil ‒ operates
Ghana’s Jubilee
oil field
]Accra, Ghana --- ESI-AFRICA.COM --- 28 July 2011 - Tullow Oil plc ‒ the London-based explorer with the most oil exploration licences in Africa ‒ has advanced in its first day of trading on the Ghana Stock Exchange, where it is the biggest company by market value.

The stock, which listed at 31 cedis, closed at 31.08 cedis by 3 p.m. yesterday.

US$10 billion needed to develop Congo oil project

[img:Total%20w_0.jpg|A Total oil rig
at work
]Brazzaville, Republic of Congo --- ESI-AFRICA.COM --- 25 July 2011 - French oil major Total SA estimates that an investment of US$10 billion will be required in order to develop the Moho Bilondo Nord offshore oil project in the Congo Republic.

“The Moho Bilondo Nord project is the future of petroleum exploration in Congo around 2015 to 2017,” Congolese state media quoted Total chief executive Christophe de Margerie as saying after a meeting with President Denis Sassou N'Guesso.

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