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News : Industry

British oil explorer Heritage Oil will sell its fields in Uganda to Italian oil group Eni SpA for between $1.3b and $1.5b, the London-based Sunday Times said yesterday. (AllAfrica)

SABMILLER 's two main competitors in Nigeria, Guinness and Heineken, make nearly as much in that market as SA's brewing giant makes in 24 other African countries, excluding SA. (AllAfrica)

UK explorer Heritage Oil has confirmed that it agreed to sell its Ugandan interests to Italy's Eni for up to $1.5 billion as the Italian oil major builds its presence in Africa through acquisitions. (AllAfrica)

South Africa-based Elgin Engineering and the state-owned Tanzania State Mining Corporation (Stamico) are jointly constructing a $20 million mining equipment manufacturing facility. (AllAfrica)

An ambitious investment programme by the Kenya Electricity Generating Company could, in less than five years, end the East African powerhouse's reliance on expensive fossil-fuel based power from independent power producers. (AllAfrica)

The people of Otuasega community in Ogbia local government area of Bayelsa State have raised alarm over the continued use of soldiers as instrument of intimidation by three multinational companies in the course of carrying out mining and exploration activities in the area. (AllAfrica)

SOUTH Africa-based investment firm, African Global Capital, believes now is the time to invest in the local mining industry to avoid losing opportunities to suitors also eyeing the sector. (AllAfrica)

With the Super Eagles qualification for the 2010 World Cup in South Africa still reverberating across the globe, one of Nigeria 's leading banks, Access Bank Plc is tantalizing its customers with an opportunity to watch live UEFA Champions League games anywhere in Europe in a promo described as unprecedented by soccer followers. (AllAfrica)

MOBIL Producing Nigeria (MPN), operator of its joint venture with the Nigerian National Petroleum Corporation (NNPC), is pleased to confirm that it has reached agreement with the federal government of Nigeria on the long term renewal of the NNPC-MPN joint venture leases. (AllAfrica)

THE Shell Petroleum Development Company (SPDC) operated Joint Venture produced a total of 512 million standard cubic feet of gas (MMscf/d) in Western Niger Delta on November 18, 2009 representing the highest volume achieved in the last two years. (AllAfrica)

With the rapid growth in the tourism, hospitality and wildlife industry, tourists can now get tourism insurance whenever they travel within the borders of Namibia. Namibia's first tourism insurance company,Safari and Tourism Insurance Brokers Namibia (SATIB Namibia) officially opened its doors on the 1 August under the leadership of Johan Liebenberg. and Sodi Norval. (AllAfrica)

Eskom needs about R80bn as a funding shortfall worsens, and reports from the Treasury say the World Bank may agree to lend the state utility about $3.75 billion by early next year. (AllAfrica)

Tigo Rwanda, the third mobile operator in the country, is launching Monday 23, with a record of over 30,000 subscribers. (AllAfrica)

Smile Telecom, the first ever Voice over Internet Protocol (VoIP) telephone provider launched its services on the Uganda market last week - bringing the number of telecommunication providers to seven. (AllAfrica)

The Morogoro-based, tobacco processing company, Alliance One Tobacco Tanzania Ltd (AOTTL), says tobacco production in the country has increased by 167 per cent during the last eight years. (AllAfrica)

After pocketing an estimated $600 million as signature bonus as revenue for the Federal Government, the Ministry of Petroleum Resources yesterday renewed three shallow water oil licences jointly operated by the Nigerian National Petroleum Corporation and ExxonMobil, granting the U.S. energy firm leases of a further 20 years with the option to renew again. (AllAfrica)

Umuchinemere Pro Credit Microfinance Bank Limited (UPMFB) Enugu, Enugu State has concluded plans to hold its annual general meeting (AGM) next month. (AllAfrica)

It may not be the backbone of the local economy but the local chocolate-making factory makes an important contribution towards ensuring that some residents have a regular income. (AllAfrica)

DANGOTE group of companies disclosed yesterday that it spends a total of N20 million annually to sponsor Durbar to the annual Abuja Carnival. (AllAfrica)

Skye Bank Plc has taken another bold step towards entrepreneurial development in Nigeria as it supports the Spirit of David, the organizers of Celebrity Takes Two (CT2) show, in putting together a successful programme this year. (AllAfrica)

Multi-Links Telkom has connected the Mountain of Fire and Miracles Ministries'(MFM) Prayer City on the expansive Lagos - Ibadan Express Road to its telecommunication network and in the process ensuring that the sprawling city now enjoys an integrated telecommunications solution that covers voice, video and data. (AllAfrica)

South Africa's Media24 has increased its presence in Kenya's publishing industry with the takeover of East Africa Magazines, the publisher of True Love, Drum and Move! magazines. (AllAfrica)

Retail chain Nakumatt Supermarket is shoring up its financial position with the sale of a third of its shares to international private equity investors for Sh1.8 billion. (AllAfrica)

Apex Communications is the overall winner of 2009 PR campaign of the year. (AllAfrica)

Faulu Advisory Services, a fully owned subsidiary of micro-finance group Faulu Kenya, has acquired an insurance brokerage company as it seeks to diversify its offerings by getting a piece of the untapped business. (AllAfrica)

British American Tobacco (BAT-Rwanda) Thursday remitted a cheque of Rwf 4 million as part of the company's contribution to the 'One Dollar' campaign provide support for orphans of the 1994 Genocide against Tutsis. (AllAfrica)

There's been a lot of news on the oil front in the past few days. Today, it was announced that Heritage Oil has sold its stake to Italian energy giant Eni S.p.A. for $1.5 billion -- quite a large sum. (AllAfrica)

Air Mid-West Nigeria is set to fly the nation's airspace shortly with the delivery of its Boeing737-500 expected in the country in the fortnight. (AllAfrica)

Senegalese authorities have detailed initial plans for a new national carrier, Senegal Airlines, aimed at succeeding the troubled Air Senegal International venture early next year. (AllAfrica)

South African Airways (SAA), has introduced a promotional fare of $311 (N46, 650) for its economy class passengers on the Lagos-Johannesburg-Lagos route to mark 11 years of flight operations in Nigeria. (AllAfrica)

Golden Star Resources Ghana Limited announced on Thursday, November 12, this year, that during the third quarter of 2009, it paid US$3,127,398.42 in royalties to the Government of Ghana, out of production from the Bogoso/Prestea and Wassa Mines. (AllAfrica)