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Oil & Gas

The deal is aimed at reducing the possibility of Nigeria defaulting on loans. (Image source: sxc.hu)

Nigerian state oil firm NNPC has been granted a loan of US$1.5bn by a syndicate of Nigerian and international banks to allow the company pay off its debts to international fuel traders

The five new blocks will increase Kenya’s exploration areas to 51 from the current 46. (Image source: mrpbps/Flickr)

Kenya will put up five crude oil and gas exploration areas up for auction in the next two weeks

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