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 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

 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 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

 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 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

 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

 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

 “Ntorya-3 is ready to go but want to make sure, we maximise as many targets as we possibly can.”   Broker Shore Capital calculated that on a revised view of the Ruvuma project in Tanzania, which includes Ntorya, the shares are worth 6p/share against a 4p per share valuation previously.   It notes the shares have retreated from 7p since April but sees this as overdone.    Concerns over the flow rate at.... Read more »

Posted on : Tuesday , 18th July 2017

 A group of daring local business operators have taken on the mantle to lead in the promotion of the local content in the oil and gas industry through promotion of job and business opportunities for nationals and local businesses in the sector.   They teamed up to form an Association of Tanzania Oil and Gas Service Providers (ATOGS) that will lobby for and promote the participation of indig enous Tanzanian individuals and bodies.... Read more »

Posted on : Tuesday , 18th July 2017

 Local content has lately become very topical for African countries that have discovered oil and gas resources in discussions on how best these countries will manage their petroleum resources in a sustainable manner for the benefits of its people.   It has become a very important issue as people are expecting their governments to enable them capture the commanding heights of the economy and thus assist to keep its wealth within its.... Read more »

Posted on : Tuesday , 18th July 2017

 The Norwegian government has pledged to give Tanzania a grant of $10.5 million (Sh22.05 billion) aimed at boosting the country's domestic revenues in the next three years.   Norway Foreign minister Borge Brende revealed this on Friday when he met with Tanzania's Finance and Planning minister, Dr Philip Mango.   He said, he was impressed by President John Magufuli's efforts towards ending corruption and raising domestic.... Read more »

Posted on : Tuesday , 18th July 2017