11 January 2017
10 January 2017
Nine large companies from China are due to arrive in Sao Tome and Principe to analyse, together with the government, the possibility of implementing large infrastructure projects, announced the Prime Minister of Sao Tome. Patrice Trovoada also said it was possible that a Chinese company would be involved in building a deep water port, a Sao Tomean project with an estimated cost of over US$800 million, with work due to start this year.
9 January 2017
28 December 2016
28 December 2016
23 December 2016
The Equatorial Guinean company Sonagas has begun construction of facilities on São Tomé Island that will produce liquid petroleum gas (LPG) to supply the island country’s market, company official Daniel Gomes Lopez announced on Thursday. Lopez, the representative of Sociedad Nacional de Gas de Guinea Ecuatorial (Sonagas), specified that it was “an Equatorial Guinean project in São Tomé and Príncipe amid ongoing cooperation between the two countries’ governments.”
23 December 2016
22 December 2016
9 December 2016
The government of Sao Tome and Principe has decided to terminate the contract with oil company Sinoangol for "breach and violation" of the production sharing contract in Block 2 of the maritime area of the archipelago, the director of the National Petroleum Agency (ANP) said on Wednesday. In a statement, director Orlando Pontes said "among multiple defaults and violations, Sinoangol never provided the Sao Tome state with information about the amount received from the transfer of 30% stake in block 2 which took place on 31 March 2014."
7 December 2016
In 2017 the government of Sao Tome and Principe will create "specific" legislation to regulate and reorganise the distribution and marketing of oil products in the country, said on Tuesday in Sao Tome the Executive Director of the National Petroleum Agency. Orlando Pontes was speaking at the opening of a seminar on regulation and restructuring of the sector in Sao Tome and Principe, downstream of oil production, which was attended by the Minister of Natural Resources, Carlos Vila Nova and various national and foreign technical experts.
7 December 2016
The projects of the African Portuguese Speaking Countries and Timor-Leste (PALOP-TL) financed by the European Union will be finalised on Thursday and Friday during technical meetings held in Praia, the capital of Cabo Verde (Cape Verde). The ministerial meeting on Friday, which will assess the projects to be financed by the 11th European Development Fund, with the participation of the Director General for International Cooperation and Development of the European Commission, Stefano Manservisi.
24 November 2016
22 November 2016
Sao Tome and Principe saw income of 133.200 billion dobras (US$5.7 million) from January to September 2016 from cocoa sales, a product that accounted for 95.4% of exports of agricultural products in the period, according to a report published on Monday by the West African archipelago's National Statistics Institute (INE). INE added that in terms of nominal values in dobras (the Sao Tome currency) there was an annual increase of 58.7% due to "improvement in the price of cocoa" on the international market.
14 November 2016
11 November 2016
Japan has granted food aid consisting of 3,000 tons of rice to Sao Tome and Principe, with a market value of 240 million yen (US$1.87 million), the Sao Tome Minister for Foreign Affairs said on Thursday in Sao Tome. The announcement was made after the signing of the new food aid agreement for 2016 and the document was signed by Minister Urbino Botelho on behalf of Sao Tome and Japan's ambassador Masaaki Sato, on behalf of the Japanese government.
28 October 2016
Trade between China and Portuguese-speaking countries fell 11.22% in the first eight months of the year compared to the same period of 2015, according to figures from the Chinese Customs Services, released by the Forum for Economic and Trade Cooperation between China and the Portuguese-speaking Countries (Macau Forum). According to official statistics the trade between China and Portuguese-speaking countries in the first eight months of the year reached US$60.23 billion.
27 October 2016
Angola is among the top 10 countries where it is more difficult to do business, according to the World Bank Group "Doing Business 2017- Equal Opportunities for All" report, which assesses 190 countries. The World Bank report concludes that 137 countries have undertaken reforms to improve the business climate in 2015/16, 20% more than last year.
26 October 2016
Sao Tome and Principe and Equatorial Guinea have resumed talks to create a partnership for oil exploration on their common border, announced Tuesday the new Equatorial Guinea ambassador, Paulino Ekobo, resident in Sao Tome. After the President of Sao Tome, Evaristo Carvalho, received his letter of credentials, Paulino Ekopo said oil exploration was one of the priority areas of his diplomatic mission within the framework of cooperation between Equatorial Guinea and Sao Tome and Principe.
5 October 2016
21 September 2016
The government of Sao Tome and Principe should make "a redoubled effort" in terms of tax to achieve the goals the IMF wants to see completed by December, the deputy director of the IMF's Africa Department said in Sao Tome. "It has been found that on a tax level a redoubled effort is required to achieve the goals set for December and in terms of structural reforms it is necessary to move a little faster," said David Owen.