FINANCIAL OPERATIONS

AFRICA ENERGY INTELLIGENCE n°624 - 17/03/2010 FINANCIAL OPERATIONS Alphin Puts Lock on OML46 Specializing in financing marginal field development, the Swiss firm Alphin Fleury & Partner has called on Nigeria’s Department of Petroleum Resources to put a lien on all financial operations concerning the Eremor field operated by Excel Exploration & Production on OML 46. (...)  [154 words]  [$1.8] AFRICA ENERGY INTELLIGENCE n°624 - 17/03/2010 FINANCIAL OPERATIONS Lisbon Backs Mpanda Plan The Banco Luso-Mocambicano de Investimento (BLMI) that was founded in Maputo on March 2 by Portugal’s Caixa Geral Depositos and Mozambique’s treasury department, will contribute to fund the 1,350 MW Mpanda Nkuwa dam on the Zambezi river. (...)  [253 words]  [$1.8] AFRICA ENERGY INTELLIGENCE n°623 - 03/03/2010 FINANCIAL OPERATIONS Lom Pangar Vote in Mid Year The World Bank’s board is expected this summer to endorse a major loan to finance construction of a dam on the spot where the Lom and Pangar rivers meet up in eastern Cameroon. (...)  [136 words]  [$1.8] AFRICA ENERGY INTELLIGENCE n°623 - 03/03/2010 FINANCIAL OPERATIONS An Oil Railway On February 22, the Egyptian concern Citadel Capital acquired a 49% holding in the South African group Sheltam, the leading stakeholder in the Rift Valley Railways (RVR) which runs for 700 km between Kampala and Mombasa. (...)  [192 words]  [$1.8] AFRICA ENERGY INTELLIGENCE n°622 - 17/02/2010 FINANCIAL OPERATIONS Vitol Wins on Chinguetti Africa Energy Intelligence understands the Switzerland-based trader Vitol has been picked to sell crude from the Chinguetti field this year. (...)  [186 words]  [$1.8] AFRICA ENERGY INTELLIGENCE n°622 - 17/02/2010 FINANCIAL OPERATIONS EIB in Energy Play The vice president of the European Investment Bank (EIB) in charge of sub-Saharan Africa, Plutarchos Sakellaris, signed an outline agreement in Lagos in February for three loans totaling EUR 240 million. (...)  [186 words]  [$1.8] AFRICA ENERGY INTELLIGENCE n°621 - 03/02/2010 FINANCIAL OPERATIONS Arcardia Spreads Wings The small British trader Arcadia, less established in Africa than its rivals Vitol and Trafigura, has just bought a trading company that boasts a bigger footprint on the continent, Switzerland’s Masefield. (...)  [97 words]  [$1.8] AFRICA ENERGY INTELLIGENCE n°621 - 03/02/2010 FINANCIAL OPERATIONS Tullow All Set for Heritage The Irish company Tullow Oil, which is seeking to buy Heritage Oil’s stake on blocks 1 and 3A in Uganda (see P. (...)  [188 words]  [$1.8] AFRICA ENERGY INTELLIGENCE n°620 - 20/01/2010 FINANCIAL OPERATIONS Tullow to Float in Africa? With every chance it will begin to pump oil in Ghana in 2010 and in Uganda the following year, Ireland’s Tullow Oil is expected to shortly decide on whether to seek a listing on stock markets in the two countries. (...)  [193 words]  [$1.8] AFRICA ENERGY INTELLIGENCE n°620 - 20/01/2010 FINANCIAL OPERATIONS Lending to Peter to Pay Paul Africa Energy Intelligence understands that Abidjan is currently in talks with several Western banks to obtain loans guaranteed by future oil output. (...)  [170 words]  [$1.8]   AFRICA ENERGY INTELLIGENCE n°624 - 17/03/2010 FINANCIAL OPERATIONS Decision Soon on Grynberg After six years of legal wrangling, a decision on a dispute pitting the Central African Republic against RSM Production, a firm owned by American national Jack Grynberg, will shortly be handed down. (...)  [117 words]  [$1.8] AFRICA ENERGY INTELLIGENCE n°624 - 17/03/2010 FINANCIAL OPERATIONS Glencore To Land Contract According to our sources, the Swiss trader Glencore is expected to win a forthcoming contract from Zambia to supply it with crude over the coming two years. (...)  [159 words]  [$1.8] AFRICA ENERGY INTELLIGENCE n°623 - 03/03/2010 FINANCIAL OPERATIONS EIB Hesitates on Gibe 3 According to our sources, the European Investment Bank (EIB) won’t make up its mind on whether to fund Ethiopia’s Gibe 3 dam until June. (...)  [245 words]  [$1.8] AFRICA ENERGY INTELLIGENCE n°623 - 03/03/2010 FINANCIAL OPERATIONS Platform Slams Tullow In a report issued in February, the British NGO Platform underscored the potential damage that pumping oil in Uganda could do to the environment. (...)  [135 words]  [$1.8] AFRICA ENERGY INTELLIGENCE n°622 - 17/02/2010 FINANCIAL OPERATIONS IDB Funds Power Project The Islamic Development Bank (IDB) has just granted a USD 46 million loan to Societe Tunisienne de l’Electricite et du Gaz (STEG) to promote growth in Tunisia’s energy sector. (...)  [158 words]  [$1.8] AFRICA ENERGY INTELLIGENCE n°622 - 17/02/2010 FINANCIAL OPERATIONS New Game Plan for Eskom The state-owned power company Eskom has decided to sell off part of its on-going projects as a result of the South African government’s incapacity to guarantee new loans to bankroll the utility’s expansion plans. (...)  [184 words]  [$1.8] AFRICA ENERGY INTELLIGENCE n°621 - 03/02/2010 FINANCIAL OPERATIONS Indirect Listing for CAMAC Less than a month after beginning to pump oil on its Oyo field, Nigeria’s CAMAC, which owns 60% of the field, is finalizing a transaction with the American group Pacific Asia Petroleum, listed on the American Stock Exchange, the second-tier New York market. (...)  [299 words]  [$1.8] AFRICA ENERGY INTELLIGENCE n°621 - 03/02/2010 FINANCIAL OPERATIONS ERHC To List in London? Listed on the free market (OTC Bulletin Board) in the United States, the junior ERHC, which holds four concessions in the Joint Development Zone (JDZ) between Sao Tome and Nigeria, is seeking to float on London’s Alternative Investment Market. (...)  [148 words]  [$1.8] AFRICA ENERGY INTELLIGENCE n°620 - 20/01/2010 FINANCIAL OPERATIONS Government vs Kosmos Tension is ratcheting up in the standoff that has pitted the U. (...)  [212 words]  [$1.8] AFRICA ENERGY INTELLIGENCE n°620 - 20/01/2010 FINANCIAL OPERATIONS Funding for Seven Energy The British merchant bank Standard Chartered has just bought a stake in Seven Energy, a Nigerian firm that enjoys strong connections with the government. (...)  [136 words]  [$1.8]