• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    South Africa’s Informal Economy Shows Signs of Movement to Switch toward Cashless Economy, Study
    $11.70 million Expended by the Africa Development Bank to Facilitate Access to Fertilizers for African Agricultural Producers
    TRANSCO – CLSG wields Impressive Coordination Meetings for the Development of the Gambia River
    650,000 BPD Dangote Petroleum Refinery and Petrochemicals plant Commissioned by Erstwhile Nigeria’s President Buhari
    …Curtail the usage of Charcoal and save the Environment Immense Liquefied Gas Depot opened in Tanga City of Tanzania
    $3.5 Billion in reimbursements to White Agriculturalist by the African Development Bank as Financial Instruments to “Fast Track and Front Load” to White Agriculturalist land…was taken from them by the Zimbabwe Administration President of AfDB disclosed
    Dangote Industries is Set to Open Africa’s Largest Oil Refinery
    Head of Liberia Electricity Corporation (LEC) – Monie R Captan, conveyed assurance in Liberians taking over the electricity Operations after Ten Years of Foreign Management
    NSIA Group Strengthened its African Footprint by Bolstering Four Insurance Subsidiaries of Sanlam Group in Togo Gabon Congo and Guinea
    Easy Solar Sierra Leone climaxes as one of Africa’s ten fastest-growing companies in 2023 Financial Times disclosed

    Equatorial Guinea‘s Ministry of Mines and Hydrocarbons Displays Improvement in Gas and Mining Adventure

    Posted On 26 Dec 2020
    By : New Africa Business News, Staff Correspondent
    Comments: 12

    By Abdul Rahman Bangura–

    Gabriel Mbaga Obiang Lima, Equatorial Guinea‘s Minister of Mines and Hydrocarbons

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Drilling schemes, innate gas downstream enterprises, cross-border negotiations and a detailed revised of the mining sector are an exceptional of the endeavors Minister of Mines and Hydrocarbons – Gabriel Mbaga Obiang Lima’s squadron has executed in recent months.

    Entrusted with enabling the Central African oil creator to survive the challenges of the COVID-19 pandemic and the 2020 recession in oil prices, the Ministry of Mines and Hydrocarbons (MMH) of Equatorial Guinea inaugurated a 100-day proposal to shove the sector forward and pursue financial development. The strategy has presently concluded. Yet, the two incessant major projects in the country’s overarching scheme to establish a natural gas-driven downstream mega-hub at Punta Europa to appear to be on track. The Backfill project meant to nourish gas from the Alen field to the hub is 85% inferred, while the Punta Europa modular refinery is 90% finalized, according to an MMH experiment summary. And that, phase two of a new compressed natural gas plant and a monitoring strategy for the liquefied petroleum gas sector are 60% and 50% finalized, respectively.

    National gas company SONAGAS’ investment in Equatorial Guinea’s liquefied natural gas plant – EGLNG, has also improved to 37.5%, from an initial 25%. The MMH has inducted and finalized a new onshore drilling agenda as well as introductory researches to observe marks in its continental bays. Negotiations with Cameroon for the mutual
    development of the Yoyo-Yolanda cross-border gas honed have also been revivify.

    This epoch was also utilized to clean house, addressing the issue of Exonmobil’s divestment from the Zafiro project and crafting a follow up strategy, auditing both the national companies SONAGAS and GEPetrol, and the international oil companies, which is ongoing, and formulating a cash call financing system for GEPetrol’s
    participation in output disseminating pacts.

    In addressing a crucial topic in recetomonths, as Equatorial Guinea encountered energy scarcities, the Ministry also constructed a stock control system for GEPetrol’s and Total’s fuel reserves, the country’s two fuel distributors, as well as supervising the last stage of the construction of Tradex’s pump stations, a new entry to the market. Therefore, as a thrust to improve the payment of the mining sector to GDP, the MMH has sought for transparency and reform in recent months. A new delimitation of the mining regions to be reviewed has been concluded, which should simplify the signing of new agreements with private sector performers.

    The Niefang mineral processing plant has been striding ahead and is 80% assumed, while the initial surveys for the formation of a mineral refinery in Kogo are also near fulfillment. Procedures, for the accession of artisanal production of minerals by either the government or private companies has also been assumed and the attribution of
    agreements to mining companies is short to realization.

    A sum of programs were deployed to both enable local communities as well as unrestricted chances for entrepreneurs. Among others, a program to benefit start-ups within the MMH is being enforced, while a miner’s support program, a fishing sector support program, and a new mining school are also being ascertained.

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    Facebook: newafricabusinessnews.com

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

     

     

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    Boost For Women Entrepreneurs in Sudan as Africa Development Bank Approves $14.96m to Finance and Grow Businesses

    Next Story

    Ecobank Group Taps into Africa’s Leading Fintechs to Launch an eCommerce Solution for Small and Medium Enterprises

    12 Comments

    1. Zira December 26, 2020 at 3:43 am Reply

      Great reporting. Fan of your online newspaper. You deserve to be thank. Masvingo Zimbabwe. Zira

      • New Africa Business News, Staff Correspondent December 26, 2020 at 3:43 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Bartho December 26, 2020 at 3:49 am Reply

      Our government in Equatorial Guinea, has being doing beautiful jobs for our great Country and Africa. Bata Equatorial Guinea. Bartho

      • New Africa Business News, Staff Correspondent December 26, 2020 at 3:50 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Kaya December 26, 2020 at 3:55 am Reply

      Extremely glad to see lot of developments and population growth in our great Continent. Thanks for reporting. Cape town, South Africa. Kaya

      • New Africa Business News, Staff Correspondent December 26, 2020 at 3:56 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Elie December 26, 2020 at 4:01 am Reply

      Thank you for reporting. Like to say our Leaders in Equatorial Guinea are doing great job for our People. Puerto Equatorial Guinea. Elie

      • New Africa Business News, Staff Correspondent December 26, 2020 at 4:02 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. David December 26, 2020 at 4:10 am Reply

      Merry Christmas to you, one of my favorite global online newspaper. We love you all. Your teams are the best. Covering all over Africa. Learning more of Africa. Love your independency. Thank you for the daily newsletters. Love them. David in Oxford, England.

      • New Africa Business News, Staff Correspondent December 26, 2020 at 4:11 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    6. Omel December 26, 2020 at 4:19 am Reply

      Thank you, Journalist Bangura. Thank you for travelling all over, Africa and covering the news that we need and deserve to know. Thanks to your teams. Lilongwe, Malawi. Omel

      • New Africa Business News, Staff Correspondent December 26, 2020 at 4:19 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    South Africa’s Informal Economy Shows Signs of Movement to Switch toward Cashless Economy, Study

    Posted On 26 May 2023

    $11.70 million Expended by the Africa Development Bank to Facilitate Access to Fertilizers for African Agricultural Producers

    Posted On 25 May 2023

    TRANSCO – CLSG wields Impressive Coordination Meetings for the Development of the Gambia River

    Posted On 24 May 2023

    New Africa Business News, Africa Leader of the Year 2022-2023 Goes to Ethiopia's Prime Minister Dr. Abiy Ahmed

    Posted On 24 Feb 2023

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Facebook

    Latest Posts

    South Africa’s Informal Economy Shows Signs of Movement to Switch toward Cashless Economy, Study

    $11.70 million Expended by the Africa Development Bank to Facilitate Access to Fertilizers for African Agricultural Producers

    TRANSCO – CLSG wields Impressive Coordination Meetings for the Development of the Gambia River

    Recent Posts

    • South Africa’s Informal Economy Shows Signs of Movement to Switch toward Cashless Economy, Study
    • $11.70 million Expended by the Africa Development Bank to Facilitate Access to Fertilizers for African Agricultural Producers
    • TRANSCO – CLSG wields Impressive Coordination Meetings for the Development of the Gambia River
    • 650,000 BPD Dangote Petroleum Refinery and Petrochemicals plant Commissioned by Erstwhile Nigeria’s President Buhari
    • …Curtail the usage of Charcoal and save the Environment Immense Liquefied Gas Depot opened in Tanga City of Tanzania

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.