N e w s

Indian government to buy Sh356.5bn Tullow Oil stake in Turkana

Two Indian state-backed companies are in talks to acquire Tullow Oil's stake in Turkana oil projects in a deal estimated to breach Sh356.5 billion ($3 billion).This will mark one of the biggest deals in Kenya's history and offers a foreign government a stake in a venture that is seeking to develop infrastructure for oil production.Bloomberg news agency reported from India that ONGC Videsh and Indian Oil Corp may acquire the stake for between $2.... Read more »

Posted on : Wednesday , 3rd August 2022

Saudi Aramco to Supply Fuel at Lower Prices to Kenyan Oil Firm NOCK

State-owned National Oil Corp. of Kenya has signed a deal with Saudi oil giant Aramco to import fuel at lower prices than the global costs of crude, local media reported. This comes as part of the government’s efforts to lower pump prices in the African state, Business Daily reported.   As per the government-to-government deal, NOCK will import 30 % of Kenya’s monthly petroleum requirements from August. “We already.... Read more »

Posted on : Friday , 15th July 2022

Tanzania's Taifa Gas to Set Up Plant in Kenya

Tanzania’s biggest gas dealer Taifa Gas has been licensed to set up gas plant and storage facilities at a site in Dongo Kundu near the port of Mombasa to supply LPG for domestic, commercial and industrial use. The company, owned by Tanzanian business magnate Rostam Aziz, is expected to bring healthy competition in the gas industry in Kenya given its lower prices. An impact assessment study report is expected this month, and the.... Read more »

Posted on : Friday , 15th July 2022

East African Crude Oil Pipeline (EACOP) Project on Track

A request for a license to begin the construction of the East African Crude Oil Pipeline (EACOP) has been submitted to the government of Uganda by the company in charge of the project. According to Martin Tiffen, general manager of EACOP company they are ready to begin construction. The submitted application will be completed in 180 days, or before the end of the year, according to Honey Malinga, acting director of petroleum at the Ministry of.... Read more »

Posted on : Tuesday , 12th July 2022

Kenya’s Plan to Call The Shots in LPG Logistics

Kenya seeks to dominate in the supply of LPG by constructing the biggest import and storage gas facility in Mombasa and licensing more private companies to compete with Tanzania which has dominated the business for years in the region. The announcement to construct a 25,000 tonnes storage facility by the Kenya Pipeline Company (KPC) which will connect to the Sh42 billion new Kipevu Oil Terminal 2 (KOT) at the port of Mombasa comes few days.... Read more »

Posted on : Monday , 27th June 2022

Tanzania is Bagging Billions in Natural Gas Investments

Tanzania liquefied natural gas front has received a US$30 billion shot in the arm from large energy companies including Equinor and Exxon Mobil. • Tanzania has an estimated 57 trillion cubic feet of natural gas reserves • ExxonMobil, Equinor and Shell are among top 2 energy giants investing in Tanzania gas • Tanzania has secured a US$30 billion investment in its LNG project Tanzania's natural gas reserves have just.... Read more »

Posted on : Wednesday , 25th May 2022

Tanzania to Sign Sh70 Trillion LNG Project

Mtwara. The government is expected to sign initial agreements with exploration companies for the construction of a giant liquefied natural gas (LNG) plant before the end of May, the negotiation team has revealed. The team of experts is currently in negotiations with 5 oil and gas firms – Shell, Equinor, ExxonMobil, Pavilion and Ophir on the $30 billion (Sh70 trillion) project to be implemented in Lindi Region. The negotiations, which.... Read more »

Posted on : Wednesday , 25th May 2022

Sirocco Energy Reports Progress on Both Assets in Tanzania

Scirocco Energy PLC (AIM:SCIR) said partner APT has set a target date of November 2022 to spud the Chikumbi-1 well at Ruvuma in Tanzania. Seismic data collection is underway with contracts for all long lead items for the well in place, the statement added.Scirocco has a 25% non-operated interest in the Ruvuma PSA. APT has already published a revised estimate of risked prospective gas in place for the Ntorya accumulation at Ruvuma of.... Read more »

Posted on : Thursday , 21st April 2022

East Africa: Uganda, Tanzania to Become Oil Economies

Tanzania and Uganda are gearing up to become the region's oil economies with the latter signing a mega oil pipeline deal to transport Uganda's oil to its port of Dar es Salaam. The East African Community (EAC) is one of the fastest-growing economic blocs in the World. The pre-Covid-19 period saw the Economic Commission for Africa note that East Africa was actually the fastest growing economy compared to other regions on the.... Read more »

Posted on : Thursday , 21st April 2022

Rich Lamu Oil Prospects Fuel Kenya's Economic Plans Dreams

Kenya is just weeks away from announcing the discovery of new oil resources in the Lamu basin, bigger than what was found a decade ago in Turkana, in what could be a turning point for the country’s dreams of reaping petrodollars. Italian oil exploration company Eni — in partnership with France-based oil and gas company TotalEnergies and Qatar’s state-owned oil and gas firm Qatar Energy is racing to conclude a 5 kilometre exploratory.... Read more »

Posted on : Thursday , 17th March 2022

Tanzania: Oil, Gas Sector Attracts UAE Investors

TANZANIA'S participation in the Dubai Expo 2020 has paid off as the country has attracted a number of international companies that have shown interest to invest in the oil and gas sector. Some of the areas that have attracted foreign companies include supply of natural gas, construction of the Compressed Natural Gas (CNG) stations, and construction of pipelines as well as participation in the oil and gas exploration. The Tanzania.... Read more »

Posted on : Thursday , 17th March 2022

Tanzania Disburses $80m for EA Oil Deal Shareholding

Tanzania has already disbursed some $80 million (about Sh184 billion) as a part of its commitment in financing the East African Crude Oil Pipeline (EACOP), The Citizen has learnt. The director general of the Tanzania Petroleum Development Corporation (TPDC), Mr James Mataragio, said the parastatal oil company would have to pay a total of $308 million (about Sh708.4 billion) in the construction period covering the next 3 years. The.... Read more »

Posted on : Thursday , 24th February 2022



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