Africa Business News

Norway’s Equinor has concluded the sale of its 20.21 per cent stake in Chevron’s operated Agbami oil field.
Equinor says that it had agreed to sell its share in the Agbami oil field to Nigerian-owned Chappal Energies for an undisclosed amount.
The assets to be sold also included Equinor Nigeria Energy Company’s 53.85 per cent ownership in Oil Mining License 128.
Equinor’s senior vice president for Africa operations, Nina Koch, this transaction realises value and is in line with Equinor’s strategy to optimise its international oil and gas portfolio and focus on core areas.

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Norway’s Equinor has concluded the sale of its 20.21 per cent stake in Chevron’s operated Agbami oil field.
Equinor says that it had agreed to sell its share in the Agbami oil field to Nigerian-owned Chappal Energies for an undisclosed amount.
The assets to be sold also included Equinor Nigeria Energy Company’s 53.85 per cent ownership in Oil Mining License 128.
Equinor’s senior vice president for Africa operations, Nina Koch, this transaction realises value and is in line with Equinor’s strategy to optimise its international oil and gas portfolio and focus on core areas.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

Saudi Arabia, Russia and other major oil-producing nations announced they would further slash production next year in an effort to prop up volatile prices.
Following the virtual meeting of OPEC+ ministers, Riyadh announced it would extend its voluntary oil production cut of one million barrels per day until March 2024.
Moscow says it would slash oil exports by 500,000 barrels a day up from 300,000 barrels a day so far until March, following the tough talks.
Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman will also make smaller cuts, OPEC said in a statement.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

Saudi Arabia, Russia and other major oil-producing nations announced they would further slash production next year in an effort to prop up volatile prices.
Following the virtual meeting of OPEC+ ministers, Riyadh announced it would extend its voluntary oil production cut of one million barrels per day until March 2024.
Moscow says it would slash oil exports by 500,000 barrels a day up from 300,000 barrels a day so far until March, following the tough talks.
Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman will also make smaller cuts, OPEC said in a statement.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

Saudi Arabia, Russia and other major oil-producing nations announced they would further slash production next year in an effort to prop up volatile prices.
Following the virtual meeting of OPEC+ ministers, Riyadh announced it would extend its voluntary oil production cut of one million barrels per day until March 2024.
Moscow says it would slash oil exports by 500,000 barrels a day up from 300,000 barrels a day so far until March, following the tough talks.
Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman will also make smaller cuts, OPEC said in a statement.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

Chinese officials have launched an investigation into one of the country's biggest shadow banks, which has lent billions to real estate firms.
Zhongzhi Enterprise Group has an asset management arm that at its peak reportedly handled more than a trillion yuan.
Authorities says they are investigating suspected illegal crimes against the firm.
This comes days after reports that ZEG had declared it was insolvent.


Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

Chinese officials have launched an investigation into one of the country's biggest shadow banks, which has lent billions to real estate firms.
Zhongzhi Enterprise Group has an asset management arm that at its peak reportedly handled more than a trillion yuan.
Authorities says they are investigating suspected illegal crimes against the firm.
This comes days after reports that ZEG had declared it was insolvent.


Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

Chinese officials have launched an investigation into one of the country's biggest shadow banks, which has lent billions to real estate firms.
Zhongzhi Enterprise Group has an asset management arm that at its peak reportedly handled more than a trillion yuan.
Authorities says they are investigating suspected illegal crimes against the firm.
This comes days after reports that ZEG had declared it was insolvent.


Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

Mozambique's parliament has approved a draft law increasing compulsory military service from two to five years for general service and up to six for special forces.
Neighbouring countries have sent troops to help Mozambique tackle an Islamist insurgency in the north.
The new law may still face amendments and must be assented to by the president to become law.
The new law makes the armed forces responsible for sending conscription summonses upon authorisation by the defence minister.
It imposes criminal liability for people who disobey summonses and fines for companies that prevent workers from joining.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.

Mozambique's parliament has approved a draft law increasing compulsory military service from two to five years for general service and up to six for special forces.
Neighbouring countries have sent troops to help Mozambique tackle an Islamist insurgency in the north.
The new law may still face amendments and must be assented to by the president to become law.
The new law makes the armed forces responsible for sending conscription summonses upon authorisation by the defence minister.
It imposes criminal liability for people who disobey summonses and fines for companies that prevent workers from joining.

Become a supporter of this podcast: https://www.spreaker.com/podcast/africa-business-news--4166630/support.