Primus working on exits, new fund
News from Emerging Markets
THE strike in the coal mining sector will not adversely affect Eskom, despite its reliance on coal for power generation, the utility said yesterday , as the first shifts were due to begin industrial action.
The Asian Development Bank (ADB) will provide $120 million financing to Bangladesh to help increase its transmission capacity to address cross border power demand in India and Bangladesh.
The United Arab Emirates , the fourth-biggest OPEC producer, is sticking with investment projects to boost energy output even after the plunge in oil prices in the past year. "Investments are ongoing, we are a mature producer," Energy Minister Suhail Al Mazrouei told reporters Sunday at a conference in Abu Dhabi.
CNG and PNG consumers may be cheering the second reduction in gas price announced on October 1. But it may actually end up hurting them in the long run by discouraging investments in new fields which would eventually lead to higher dependence on costlier imports as lower prices push demand.
Sub-Saharan Africa's economic growth will likely decelerate from 4.6% last year to 3.7% this year - its lowest level since 2009‚ the World Bank said in its biannual Africa Pulse report on Monday. The report looks into the economic outlook for the region.
Royal Dutch Shell said its Nigerian exploration and production company started production at the third phase of the offshore Bonga prospect. "This new start-up is another important milestone for Bonga, adding valuable new production to this major facility," upstream director Andrew Brown said in a statement.