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Angola created national strategy to accelerate diversification
Mozambique to supply natural gas to China
China, which currently has Angola as one of its main oil suppliers, plans to position itself to have Mozambique as a major source of natural gas supply in the future.
To secure funding for the large investment required for the extraction and export of natural gas, US oil company Anadarko Petroleum is already in the market negotiating long-term contracts and one of the first five it closed, according to financial news agency Reuters, was with the China National Offshore Oil Corp (CNOOC).
Source: macauhub
Nigeria gets nearly $ 1 bn loan of the World bank for irrigation projects
The Federal Executive Council on Wednesday has approved three foreign loans totaling $ 945million meant to improve irrigation system, prevent flooding in Ibadan, Oyo State and provide water for Bauchi, Ekiti and Rivers States. The money comes from the International Development Association, an arm of the World Bank for irrigation and drainage projects, Minister of State for Finance Bashir Yuguda said.
Nigeria, Africa’s biggest economy, is trying to expand agricultural production with the aim to reduce it’s dependence on crude oil exports, which account for more than 70 percent of the country’s revenue. According to the National Bureau of Statistics Agriculture is employing more than 60 percent of the population, representing about 22 percent of the gross domestic product,.
About one million Nigerians are to benefit from the project in the three states.
Consultant search for oil and gas
Mozambican Authorities are seeking an international consulting firm to evaluate new domestic and regional markets for its oil and and natural gas using a $ 50 m grant by the World Bank under the Technical Assistance Project for Gas and Mining. Drilling of oil has begun in Northern Mozambique’s Cabo Delgado Provine.
Source: African Business, november 2014
