N e w s

Smaller firms will lead East Africa's oil and gas development

 * East Africa's huge gas reserves a big lure; proximity to Asia attractive   * Smaller explorers set to kick start development   * Majors cut investments as margins squeezed   Smaller oil explorers willing to take financial and operational risks will lead the development of East Africa's oil and gas industry as majors ditch riskier projects as margins fall, executives from several oil and gas firms said on.... Read more »

Posted on : Tuesday , 26th August 2014

Ghana: Weston Oil and Gas Fund Launched

The Weston Oil and Gas Fund (WOGFund) has been launched to assist companies and other agencies involved in the oil and gas business. WOGFund is the first mutual fund of Weston Capital, a limited liability company incorporated in Ghana. Speaking at the launch in Accra, today, the CEO of Weston Capital, Mr Rex Kontor, said WOGFund was a publicly-incorporated Ghanaian company that would invest primarily in a diversified portfolio of debt.... Read more »

Posted on : Thursday , 21st August 2014

Tanzania: Natural Gas Comes Ashore

Natural gas discovered off the coast of Tanzania is now reaching the consumer as the first homes in Dar es Salaam are connected up. The hope is that energy will now become cheaper. Tanzania's Petroleum Development Corporation (TPDC) has begun implementing an ambitious gas project. The aim is to supply hundreds of residents in the commercial capital of Dar es Salaam with natural gas to their homes for domestic use. The pilot project, which was.... Read more »

Posted on : Wednesday , 20th August 2014

2D seismic in Ethiopia s Rift basin Area set for Q4

 Africa Oil is set to commence with a 2D seismic program in the Rift Basin Area, located north of the South Omo block in Ethiopia, next quarter.   This is part of the planned work program by the block operator Africa Oil which is expected to range between 400 and 1200 kilometer for the initial exploration period which expires in February 2016.   “In Ethiopia, the Company, as operator, and its partner are making.... Read more »

Posted on : Wednesday , 20th August 2014

Competition for oil and gas production in Africa steps up

 Many countries in Africa remain a beacon for investment in theoil and gas industry, with around 8% of the world’s untapped proven oil reserves on the continent,  The continent’s share of global production dropped from 12% in 2013 to 10% in 2014, but competition remained “extremely tight”. In addition to multinationals, a rising number of national oilcompanies were moving in to also.... Read more »

Posted on : Tuesday , 19th August 2014

Tanzania Gas Gains at U.S.$3 Billion

 Dar es Salaam — Tanzania value of export of gas which is a net of repatriate earnings is set to be $3 billion per annum over the period 2023 - 2050.     This means in 27 years the value of gas exports will be $81 billion once the international oil companies start the actual extract of the natural resources.     Tanzania estimates of gas reserves are frequently being updated. The reserves of natural gas in.... Read more »

Posted on : Tuesday , 19th August 2014

Angola produced 1.7 million barrels of oil per day in July

 Angola produced 1.7 million barrels of oil per day last July, Petroleum Minister José Maria Botelho de Vasconcelos announced on Wednesday in Luanda. The production figure shows a growing tendency toward achieving the production target of 2 million barrels of oil per day in 2015, Botelho de Vasconcelos said during a seminar on dispersants and on-site burning. Cited by Angop news agency, he specified that more than 99 percent of.... Read more »

Posted on : Tuesday , 19th August 2014

Opportunities for UK oil and gas companies in Africa

LONDON, 13 August 2014 / PRN Africa / — UKTI's event in Glasgow during the Commonwealth Games highlighted support available to help UK business access export opportunities in east and west Africa.   UK Trade & Investment (UKTI) ran an oil and gas seminar at the British Business House (BBH) in Glasgow during the Commonwealth Games. 80 delegates took part in the seminar, including guests from east and west.... Read more »

Posted on : Monday , 18th August 2014

Swala Oil & Gas debuts on DSE

Swala Oil & Gas is now listed on the Dar es Salaam Stock Exchange (DSE) becoming the first public-owned oil and gas company in East Africa SwalaThe former president of Tanzania Alhaji Ali Hassan Mwinyi rings the bell officiating the first trading day of Swala Oil & Gas on the DSE. (Image source: Swala Oil & Gas)   The Tanzania-based company is the 20th to list on the DSE and the second to list under the enterprise growth.... Read more »

Posted on : Monday , 18th August 2014

Oil and gas boom in East Africa countries promises riches

 Analysts at Standard Bank say Kenya, Uganda, South Sudan, Ethiopia, Tanzania and Mozambique that have recently made discoveries, have the potential to fundamentally transform their economies through investments in road, rail, power and industrial infrastructure. “Over and above the traditional oil and gas regions in Africa, notably West Africa, East Africa has essentially been a forgotten desert in terms of upstream.... Read more »

Posted on : Friday , 15th August 2014

Tanzania: Dar Seeks to Train 300 in Gas, Oil Sub-Sector

 TANZANIA seeks to train about 300 personnel in natural gas and oil sub-sector by 2020 to ensure the country has adequate skilled workforce to effectively manage the resources.     Energy and Minerals Minister Professor Sospeter Muhongo told a press conference in Dar es Salaam yesterday that the workforce would include lawyers, accountants, auditors and engineers, among others, with bias on gas and oil.... Read more »

Posted on : Wednesday , 13th August 2014

Tanzanian firm becomes first publicly owned oil, gas group in E Africa

 Tanzania-based energy group Swala Oil & Gas has listed on the Dar es Salaam Stock Exchange (DSE), becoming the first publicly owned oil and gas company in East Africa.  The company is the twentieth to list on the DSE and the second to list under the Enterprise Growth Market (EGM), an equity market specifically intended for small and medium-sized enterprises (SMEs) and start-ups.   The company listed on the EGM with.... Read more »

Posted on : Tuesday , 12th August 2014



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