Africa, Business, invesment, Invesments, news, Uncategorized, World Bank, World Bank Group

Africa News February 20, 2014 at 09:04AM

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VENTURES AFRICA – The Namibian government this week said it is expecting to give two more undisclosed oil majors permission to start having operations in the south western African country.

The government made this statement soon after the global oil major, Shell, said it had acquired two offshore blocks in that country.

“For Shell to decide to return means that they have a lot of confidence in finding oil in Namibia. It is also a boost for Namibia,” Immanuel Mulunga, Namibia’s petroleum commissioner, told AFP this week.

Namibia has to deal with the scramble for the new oil discovery in the country which has also permeated the African continent, kick-started by the oil finds in Uganda, Tanzania and Ghana among other African countries.

Mulunga, according to AFP, believes that Shell’s entry into the country will boost the country’s confidence among global investors, attracting other oil majors to want to set up shop in the country.

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