Africa > West Africa > Cote d'Ivoire > Petroleum / Mining

Petroleum / Mining in Côte d'Ivoire

  • Africa rejects Europe's 'dirty diesel'

    BOTSWANA, 2017/05/04 Ghana and Nigeria are the first countries to respond to reports of European companies exploiting weak fuel standards in Africa. Stricter limits on the sulfur content of diesel will come into force on July 1. Governments in West Africa are taking action to stop the import of fuel with dangerously high levels of sulfur and other toxins. Much of the so-called "dirty diesel" originates in Europe, according to a report published by Public Eye, a Swiss NGO, last year. The report exposed what Public Eye calls the "illegitimate business" of European oil companies and commodities traders selling low quality fuel to Africa. While European standards prohibit the use of diesel with a sulfur content higher than 10 parts per million (ppm), diesel with as much as 3,000 ppm is regularly exported to Africa.
  • Beyond Commodities: How African Multinationals Are Transforming

    BOTSWANA, 2016/05/11 Oil, gold, diamonds, palm oil, cocoa, timber: raw materials have long been linked to Africa in a lot of businesspeople’s minds. And in fact the continent is highly dependent on commodities: they constitute as much as 95% of some nations’ export revenues, according to the United Nations Conference on Trade and Development. But propping a country’s entire economy on commodities is risky business, like building a mountainside home on stilts. You can’t be sure about the weather, or in this case the commodities market. The current free-fall of oil prices to less than $40 a barrel is a glaring example. “The commodities cycle has tanked out,” says Austin Okere, founder of Computer Warehouse Group (CWG), a Nigerian emerging multinational financial services company. “And this time it looks additional structural than cyclical, so it’s not a matter of waiting it out. Something has to give.”
  • Diamond: Belgium to train Ivorian experts on surveillance of diamond exports

    BELGIUM, 2014/12/18 Three Ivorian diamond experts will be trained by the Anvers World Diamond Center (AWDC) for the surveillance of diamond exports from Côte d'Ivoire in a bid to enable the country to export the precious metal legally on the international market, official sources said on Tuesday. Mrs Margeaux Donker, AWDC spokesperson, told the press that since 2003, the UN had placed Côte d'Ivoire on the black inventory of nations banned from exporting diamonds, because at that time, Ivorian rebel groups exported the precious stones to purchase armament, an illegal trade system called 'blood diamond'.
  • Côte d’Ivoire's oil and gas sector shows promising signs

    ABIDJAN, 2014/01/04 Like its neighbours elsewhere along the Gulf of Guinea, Côte d’Ivoire has seen a steady increase in its upstream hydrocarbons production. According the Ministry of Petroleum and Energy, natural gas output this year is expected to hit 220m cu feet per day, up from 110m cu feet per day in 2012, and is projected to surpass 250m per day in 2014. Meanwhile, in the oil segment, the government has announced plans to increase production by a factor of six over the next five years.
  • Football star Drogba becomes shareholder in Ivorian mine

    CôTE D'IVOIRE, 2013/06/09 Former Chelsea soccer star Didier Drogba has taken a stake in a Côte d’Ivoire gold mine, the new sign of his increasing engagement in his homeland, which is recovering from a decade of crisis that ended in a brief 2011 war. Mr Drogba, who plays for Turkish side Galatasaray but won fame during an eight-year stint at Chelsea, will take a 5% stake in the mine, the West African country’s communications minister, Bruno Kone, said on Friday.
  • Exploring offshore and investing in gas

    CôTE D'IVOIRE, 2013/03/01 As neighbouring Ghana moves to hit its maximum targeted production later this year in its flagship Jubilee field, offshore oil exploration has been ramped up in Côte d’Ivoire, resulting in two significant finds since December 2011. With these discoveries, the government is targeting an increase in production to 200,000 barrels per day (bpd) by 2018, as opposed to current output of 32,000 bpd.
  • Global gas consumption to increase by 4% in 2013

    BOTSWANA, 2012/12/25 World gas request is projected to reach 3,460.7 billion cubic meters (bcm) in 2013, constituting an increase of 3.6% from 3,341.4 bcm in 2012. North America's gas consumption is estimate to reach 890.3 bcm in 2013, equivalent to 25.7% of world request. It would be followed by Asia & Australia with 720.8 bcm (20.8%), Eastern Europe & the Commonwealth of Independent States with 587.4 bcm (17%), Western Europe with 533 bcm (15.4%), the Middle East with 445.7 bcm (12.9%),