THE CHAIRMAN OF Libyas National Oil Corporation (NOC), Shukri Ghanem, has outlined further proposals within the new oil law drafting process, saying that the reconstitution of the Oil Ministry is likely, as well as a transformation of the NOC into a commercial company, but he has reassured IOCs investing in the country that no further radical changes to their terms should be expected.

AN INDUSTRY VETERAN was named as head of Algerias state energy company today, an appointment aimed at restoring stability to the company, which supplies one fifth of Europes gas, after a damaging corruption probe.

A KENYAN COMPANY, Hass Petroleum Group is building a bulk fuel storage facility at the Dar es Salaam port in Tanzania as it expands its operations in the East and Central Africa region.

THE REVENUE MOBILIZATION Allocation and Fiscal Commission, the agency responsible for monitoring Nigerias oil incomes, has asked the federal government to stop funding the joint venture cash call requirement of the state-run Nigeria National Petroleum Corp from the governments account.