N e w s

East Africa surpasses Middle East with high paying jobs in oil and gas

 The study by Von Essen, providers of tax advisory services to international contractors, said that a growing number of oil and gas jobs offering more than US$171,172 per annum are being created due to increased exploration and extraction activity in the continent. Von Essen added that Africa is now second to Europe for the number of highly paid roles advertised for top UK oil and gas industry professionals. Europe accounts for 41 per cent.... Read more »

Posted on : Monday , 11th August 2014

Kenya's import bill has accelerated by 727 million U.S. dollars

NAIROBI, (Xinhua) -- Kenya’s import bill has accelerated by 727 million U.S. dollars in the first six months of this year, compared to a similar period in 2013, Kenya National Bureau of Statistics (KNBS) said on Saturday.   The bill swelled from 7.9 billion dollars in the first half of 2013 to 8.6 billion dollars this year on account of increased inflows of industrial supplies and petroleum products.   The non-food industrial.... Read more »

Posted on : Monday , 11th August 2014

Africa Oil and Tullow Oil seek partner for Kenyan oilfields

 The Canada-listed company said that the partners have discovered oil reserves in Block 13T and Block 10BB in northern Kenya’s South Lokichar Basin, estimated to hold a combined 600mn barrels. Keith Hill, CEO of Africa Oil, said, “We will likely bring on a partner to help develop Lokichar Basin reserves but no timetable has been set.” Oil discoveries in Uganda and Kenya and gas deposits found offshore Tanzania and.... Read more »

Posted on : Monday , 11th August 2014

Gas Discoveries Fuel Investments in East Africa

 Significant gas discoveries in Tanzania, Kenya and Mozambique have put East Africa in the global spotlight, according to DHL’s executive. Steve Harley, president of energy sector at DHL, said that while Angola and Nigeria have always been the most notable producers within the sub-Saharan region, oil and gas activities in East Africa are now creating a stir amongst global exploration companies and potential investors. “Oil.... Read more »

Posted on : Monday , 11th August 2014

A commercial agreement endorsed to facilitate East Africa Oil and Gas Free Port Project

 The parliament of Ghana has endorsed a commercial agreement between the Government, Lonrho Ports Ghana Limited and Atuabo Free Port Company Limited to facilitate construction of the Ghana Oil and Gas Free Port.   The Ghana Oil and Gas Free Port will be set up at Atuabo in the Western Region. The port is also expected to come into full operations in 2016 and will assist in meeting Ghana’s logistics and support requirements in.... Read more »

Posted on : Friday , 8th August 2014

East Africa holds major oil and gas opportunities

 East Africa would be the next major oil and gas play on the continent, professional services firm PwC Africa Oil & Gas Advisory senior manager Derek Boulware said  Speaking at the launch of the firm’s 2014 Africa oil and gas review titled ‘On the brink of a boom’, he noted that, while about 15 000 wells had been drilled in West Africa to date, only about 500 had been drilled in East Africa. “There is a.... Read more »

Posted on : Wednesday , 6th August 2014

Africa Oil, Tullow likely to seek partner for Kenya oil fields

Canadian explorer Africa Oil Corp. and its partner Tullow Oil are likely to bring in a third partner to help develop their oil discoveries in northern Kenya, Africa Oil’s chief executive officer said. The firms discovered oil reserves in Block 13 T and Block 10 BB in northern Kenya’s South Lokichar Basin, estimated at a combined 600 million barrels. Experts say those reserves are enough to make a pipeline viable even without.... Read more »

Posted on : Wednesday , 6th August 2014

Shandong Kerui Petroleum eyes the Kenyan market

China’s Kerui Group which specializes in trading, oil exploration development and renowned as the key manufacturer and supplier of heavy duty equipment extensively used in petroleum exploration and delivery is eying Kenya as the next base of its operations for the East African region. The company already has a presence in 49 subsidiary offices is already present in a number of African states including its largest market.... Read more »

Posted on : Thursday , 7th August 2014

Oil find to transform East African economies

East African oil and gas discoveries are poised to fundamentally transform the economies of the region as the fuel resources usher in new investment in road, rail, power and industrial infrastructure, according to Standard Bank. Uganda, Kenya, South Sudan, Ethiopia, Tanzania and Mozambique have emerged as one of the most prolific oil and gas exploration regions in the world over the last 10 years, says Mr Simon Ashby-Rudd, the London-based.... Read more »

Posted on : Tuesday , 29th July 2014

Swala Oil gets Dar es Salaam listing approvals

DAR ES SALAAM, Tanzania - Swala Oil and Gas Tanzania Plc has offered 9.6 million shares to the public following its approval by the Tanzania Capital Markets and Security Authority (CMSA). The listing of Swala makes it the first oil and gas exploration firm to list on the Dar es Salaam Stock Exchange (DSE) in Tanzania. CMSA has approved Swala’s Initial Public Offer Prospectus last week. “This allows Swala to offer to the public.... Read more »

Posted on : Tuesday , 29th July 2014

In Kenya, the Next Big Oil Patch

Kenya's Great Rift Valley, a 450-mile-long volcanic trench ripped open by shifting tectonic plates, is known as the cradle of mankind for the million-year-old remains of human forebears discovered there. Oil drillers say the area also holds a string of fields that could make East Africa's largest economy a major energy producer. The U.K.'s Tullow Oil (TLW:LN) and Canada's Africa Oil found crude at two wells last year and now plan up to 11 more.... Read more »

Posted on : Monday , 28th July 2014

Recent discoveries in Kenya highlight oil and gas potential

Kenya’s run of geologic luck continues, following the announcement of the country’s fourth consecutive discovery of oil by the UK’s Tullow Oil and Canada’s Africa Oil. Similarly, while activity in the natural gas sector is proceeding at a slower pace, following the recent departure of one explorer, the outlook for new finds is promising. New wells Tullow and Africa Oil, which are joint partners in the exploration of.... Read more »

Posted on : Monday , 28th July 2014



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