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Brazil’s Petrobras to Explore for Oil in Ethiopia

Petroleo Brasileiro SA (Petrobras), Brazil's state oil company, plans to commence an oil exploration project in Ethiopia, according to reports. Ethiopia's Mines Minister Sinknesh Ejigu...

Huge Gas Deposits Found in Tanzania – Country Might Become the...

The government has started working on strategies to prepare Tanzania's economy to accommodate huge investments in the natural gas sector in anticipation of major commercial discoveries in the next five years. The imminent commercial discoveries, whose quantity is yet to be determined, will result into "multi-billion dollar foreign direct investments," which would add significant revenue flows to the government coffers, as well as take a big part of the country's export volumes, the facts that will, in pure technical terms, make Tanzania a "gas economy" said the minister of Finance and Economic Affairs Mustafa Mkulo in a letter he sent to the International Monetary Fund (IMF) last month.