N e w s

Tanzania-Ntorya Project Tipped to Prosper

 The recently appraised Ntorya Project is all set to take the next step in its development and is being set up for construction.   Solo possesses a 25% stake in the project, which is being operated by Aminex. Minority partner AIM is said to be looking for a new form of financing, with a new partner or divestment remaining viable options.    An upgrade in the resource estimate has seen the assets value receive a boost,.... Read more »

Posted on : Friday , 29th September 2017

Kenyan offshore patrol vessel handed over

 Bangladeshi shipbuilder Western Marine Shipyard (WMS) has handed over the offshore patrol vessel MV Doria for Kenya's Ministry of Fisheries, Livestock and Agriculture at its facilities in Bangladesh, and will sail it to Kenya at the end of this month.   The handover ceremony on 13 August was attended by Bangladesh’s Finance Minister Abul Maal Muhith and Managing Director of WMS Sakhawat Hossain, at the company’s shipyard.... Read more »

Posted on : Tuesday , 12th September 2017

East Africa: Total Seeking Kampala-Dar Pipeline Route for Kenya Oil

 French oil giant Total, which is consolidating its position in the region's extractives sector through its full acquisition of Maersk Oil and Gas stake in Kenya's South Lokichar oilfields, plans to push for discussions that would see Kenya's oil transported through the Uganda-Tanzania pipeline.   Such a decision, still at the wishful thinking stage, would have far-reaching implications for Kenya's grand infrastructure project -- the.... Read more »

Posted on : Tuesday , 12th September 2017

Lobby raises red flag over Totalís role in oil plan

 Festering differences between the Energy ministry and French oil major Total could disrupt Kenya’s upstream oil industry even before it begins commercial production, an industry lobby has warned. The French firm last month acquired Maersk Oil’s global business, giving it a 25 per cent stake in the three blocks in Lokichar that are being readied to start oil production. It will partner with Tullow Oil – which is the.... Read more »

Posted on : Tuesday , 12th September 2017

Nock eyes buyers of Nairobi oil terminal

 National Oil Corporation of Kenya (Nock) has put on sale its multi-million shilling Nairobi petroleum depot, just eight years after expanding the facility to match growing fuel storage demand.   The State-owned oil marketer said it had received a bid for an outright acquisition of the terminal that also has a truck loading facility and a warehouse.   “In this regard, National Oil is interested in engaging the services.... Read more »

Posted on : Tuesday , 12th September 2017

National Oil rolls out cooking gas initiative

 National Oil has kicked off the pilot phase of its cooking gas distribution and marketing project dubbed Mwananchi Gas in 17 counties. The programme, which started a year ago, is being implemented at a cost of Sh5 billion. It is aimed at getting more households to use gas as their preferred means of cooking. The initiative will see the initial retail price of a 6kg gas cylinder come down to Sh2, 000 from Sh4,400. Nock Corporate Manager.... Read more »

Posted on : Friday , 11th August 2017

Government trains 349 Kenyans in oil exploration

 The Government has trained 349 Kenyans in oil exploration over the past four years, according Devolution Cabinet Secretary Mwangi Kiunjuri. In a speech read on his behalf by Fisheries Principal Secretary Japheth Ntiba Micheni at a conference in Kakamega, the CS said the training cost Sh480 million. He said those trained were drawn from various Government agencies. Kiunjuri said those trained will help in development of gas and oil.... Read more »

Posted on : Friday , 11th August 2017

Tullow Strikes More Oil In Kenya

 Tullow Oil has announced a find in the Emekuya-1 oil well in the South Lokichar basin in the northwestern part of the country. The exploration well was drilled in the Block 13T, which the UK-based, Africa-focused company operates with a 50-percent interest in partnership with Maersk Oil and Africa Oil Corporation, both with 25-percent stakes.   The well revealed a net pay—the vertical height of the rock formation that holds.... Read more »

Posted on : Friday , 11th August 2017

National Oil acting chief executive confirmed

 The National Oil Corporation of Kenya has confirmed interim boss Mary Jane Mwangi as chief executive after acting for a year.   The State-owned firm said Ms Mwangi was ranked top in the interview and will now head the firm for three years effective August 1.   “She is expected to drive change, lead and build a competitive fully integrated oil and gas firm,” said Samuel Gakunga, acting chairman at Nock.   Ms.... Read more »

Posted on : Friday , 11th August 2017

President Uhuru launches construction of Sh1.7b Kisumu oil jetty

 President Uhuru Kenyatta Wednesday launched the construction of the Sh1.7 billion Kisumu oil jetty whose completion in October is expected to help Kenya recapture the regional fuel market share lost to Tanzania. The jetty whose construction began in April is 15 per cent complete and is expected to boost throughput in Kisumu by 1 billion litres a year in phase 1 and up to 3 billion litres per year by 2028. It will improve the reliability.... Read more »

Posted on : Friday , 11th August 2017

Dutch oil marketer Lexo Energy launches in Nairobi

 A Netherlands-based company has launched operations in Kenya, making Nairobi its second African destination.   Lexo Energy, the latest oil marketer to join the Kenyan market, is backed by a multi-billion-shillings war chest with which it plans to open up to 25 new petrol stations this year.   The entry bucks a recent trend in which Western multinationals have been exiting Kenya’s (and Africa) petroleum retail market to.... Read more »

Posted on : Friday , 11th August 2017

Total Kenya parent firm's profits surge as oil prices rise

 French oil company Total said Thursday underlying profits gushed higher in the second quarter thanks to a recovery in the price of oil, with the company also benefitting from increased output.   The firm's measure of adjusted profits that excludes exceptional items climbed 14 per cent from the same period last year to $2.5 billion (about Sh260 billion).   That beat the consensus forecast of analysts surveyed by financial data.... Read more »

Posted on : Friday , 11th August 2017



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