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Petroleum / Mining in Mauritania

  • 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.”

  • Sensitization campaign on minerals in Mauritania

    MAURITANIA, 2014/05/22 The Mauritanian national committee for transparency on extractive industries (CNITIE) is preparing for a wide sensitization campaign to make the people know about the importance for a better management of natural resources for the profit of the people,  For the campaign planned for mid-June, the committee targets public administrations (ministries of Finance, Oil and Mines, Fishing, Environment and the Interior). Set up since 2005 for the intensification of research on several minerals, with the beginning of oil production, the national CNITIE remains largely unknown even within the public administrations, said its president, Mr Sow Djibi.

  • Mauritania oil exploration at the Chinguetti offshore field

    MAURITANIA, 2014/03/18 Mauritania realised US$10.5 million from oil exploration at the Chinguetti offshore field (70 km off Nouakchott) in January 2014, according to an official statement. During the same period, the daily oil production at the Chinguetti, which was commissioned in February 2006 and remains the only well, stood at 3,964 barrels per day or a monthly total of 122,877 barrels. The daily production represents a decline against the December 2013 figure, which average 6,370 barrels per day. The decline was due to a 10-day cessation of work, the statement explains.

  • 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%),

  • Norwegian company, Furgo, to do a 3D seismic survey

    MAURITANIA, 2012/12/08 In honoring its initial three-year work commitment with Mauritania concerning the Block C19 which is offshore, Chariot oil and gas has handed out a contract to a Norwegian company, Furgo, to do a 3D seismic survey in the area. In a released statement from Chariot, Furgo will be surveying depths ranging from 30 meters up to 2000 meters and is expected to be concluded in about 90 days from the day the exercise begins. The surveying program is as well aimed at identifying possible targets for next exploration.
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