Regional Focus - Western Africa

Western Africa: Equatorial Guinea agreed to supply Ghana with 2 million barrels of crude oil per year in a deal meant to help Ghana's debt-ridden refinery - the Tema Oil Refinery (TOR) - continue operating. Despite a partial payment of TOR's debt by Ghana's government in March 2010, the refinery is still experiencing difficulties in acquiring credit to buy more crude oil.
Brazilian miner Vale, which recently made a USD 2.5 billion deal to acquire the concession of the Simandou iron ore in Guinea, plans to ship production from the deposits through a new rail export line to neighbouring Liberia. The firm is negotiating with the Liberian government for the rights to use an existing railway to move the ore to port, and is also in talks to build new rail and port infrastructure in Liberia.