• Soldiers cheered on their departure to protect Chad from Boko Haram

    18 Jan 2015
    Chadian Soldiers

    Thousands of people have marched in the Chadian capital N’Djamena in support of the government’s decision to send troops and armored vehicles against Boko Haram to challenge the Islamist advance in Nigeria and Cameroon.

    People took part in the rally to show their support for the government’s decision to take part in a regional force to protect economy and security. Last Wednesday, Chad said it would support Cameroon, whose president, Paul Biya, appealed for an international response to the radical Islamist threat.

    At the beginning of this year, Boko Haram fighters launched a full-scale assault on the border town of Baga near Lake Chad, which has a border crossing with Chad, Nigeria, Niger, and Cameroon.

  • Chinese Contracts revoked and Claim for Fines

    11 Aug 2014
    Oil Workers in Chadkl

    Chad has decided to withdraw five exploration permits issued to Chinese oil giant CNPC and press charges in a spat over a US$ 1.2bn fine for environmental violations, the oil ministry said. Oil Minister Djerassem Le Bemadjiel told a press conference late Saturday the move was “to avoid further environmental degradation, not to make place for other companies.”

    The China National Petroleum Company was forced to suspend operations in Chad in May after refusing to pay a fine of US$ 1.2bn for “unacceptable practices” that had led to “noxious spills” around drilling sites. The government of the large central African nation also said it planned to press charges against the CNPC both in Ndjamena and in France, whose commercial court has a cha…

  • Oil Decline pulls Economy down

    23 Jul 2013
    Oil Pipelines in Chad

    Declining oil production and low crude prices in the first quarter of the year will contribute to cutting Chad’s economic growth rate nearly in half in 2013, the Bank of Central African States said today. “GDP growth should be at 4.5%, compared to 8.9% in 2012,” the statement from the central bank of the six-nation Economic and Monetary Community of Central African States (CEMAC) said. “Inflation tensions observed in 2012 should be reduced in 2013 and not exceed 3%,” it added. The International Monetary Fund is forecasting higher economic growth of 8.1% for the impoverished, desert nation this year. Oil output dropped by more than 15% to 1.1 million tonnes in the first quarter of this year from 1.3 million tonnes during the same period i…

  • Coup foiled in Chad

    02 May 2013
    Chad coup foiled

    Security forces in Chad say they have foiled a coup against the government of President Idriss Deby that a group of rebels had prepared forseveral months. Hassan Sylla Bakary, the communications minister, said on Wednesday that a group of individuals “with bad intentions sought to carry out an action to destabilise the institutions of the republic”. “They did not count on the valiant security forces who have tracked them since December 2012 and who, this morning, neutralised them,” Bakary said. He said the suspected plotters had been handed over to the state prosecutor. He did not reveal their identities or give further details of the plot. Reuters reported that at least one member of parliament, an opposition figure named Saleh Maki, wa…

  • Russian Company to boost Business

    19 Mar 2013

    General Idriss Déby Itno, President of the Republic of Chad, met with Boris Ivanov, Managing Director, GPB Global Resources. The parties discussed the development of gold mining projects in Chad and opportunities to intensify business cooperation between Russia and Chad. Boris Ivanov underlined Gazprombank’s contribution to strengthening bilateral relations and investing in Chadian resource projects. In particular, the parties noted significant progress in the Ganboke project implemented by GPB Chad Minerals SARL (GPB Global Resources Group). The Company performs active field works, including trenching, sampling and core drilling operations in full accordance with the work program. In addition to the strict fulfillment of the License obl…