Scottish oil companies that are struggling in the North Sea are being urged to look to Africa to secure their future.   The suggestion comes as the first Scotland Africa Oil & Gas Forum brings senior government officials from the continent to Aberdeen today. Komi Sélom Klassou, prime minister of Togo, is being joined by energy ministers from Senegal, Ivory Coast and Congo (Brazzaville). Paul Wheelhouse, Scotland’s.... Read more »

Posted on : Thursday , 24th November 2016

 Africa is currently home to five of the fastest growing economies in the world. According to a global study, the continent's economy is forecast to grow to $2.6 trillion in 2020 from $1.6 trillion in 2008, fuelled by booms in mining, agriculture and development of ports, roads and other infrastructure. This rapid economic growth is what is creating substantial new business opportunities in the region. Over the past decade, Africa’s.... Read more »

Posted on : Thursday , 24th November 2016

 At a time when struggling Turkish exporters are looking for ways to diversify their target markets, Africa is poised to become the new frontier market for Turkish firms as they position themselves to become major stakeholders in the region’s rapidly growing industries. Africa has recorded an annual growth rate of 5 percent over the last decade and is expected to continue this trend in the coming years. Six out of ten fastest growing.... Read more »

Posted on : Wednesday , 23rd November 2016

 LONDON, United Kingdom,  -Mareeg-The discovery of oil and gas can be a defining moment for nations. Managed well, it can have a transformative impact; boosting economies and fuelling inclusive growth across the board. But without the right systems in place, a sudden boom in the extractives sector can have debilitating effects – including distorting economies and fostering conflict and insecurity.   East Africa has now.... Read more »

Posted on : Wednesday , 23rd November 2016

 NAIROBI: Kenya is betting on the recent oil discoveries to achieve its vision of becoming a middle-income economy ahead of the 2030 deadline. The Vision 2030 Delivery Secretariat expects the nascent industry to reach major milestones a few years after commercial production starts in 2020. Oil and gas were recently included in the list of key sectors that are expected to play a critical role in driving the economy to achieve the Vision.... Read more »

Posted on : Tuesday , 22nd November 2016

“Over 50 years of experience in North Sea oil and gas has given the UK a global competence in all aspects of exploration and production. The oil and gas industry supports over 375,000 jobs in the UK. The top two UK firms listed by market capitalization are in the extractives industry … and there is a wealth of UK companies leading the way in designing, financing and implementing oil and gas construction projects across the.... Read more »

Posted on : Friday , 18th November 2016

Shell and its joint venture partners, Pavilion Energy and Ophir Energy have announced the start of its drilling programme covering two wells in Block 1 and 4, located in the Mafia Deep basin off Tanzania.   The rig supporting the programme – the Noble Globe Trotter 2 – is expected to commence operations towards the end of October 2016 and will be drilling in waters up to 2300 metres deep.   The joint venture partners.... Read more »

Posted on : Monday , 7th November 2016

 The Government is moving to upgrade infrastructure as it readies to start moving crude oil from Turkana to Mombasa. Deputy President William Ruto yesterday commissioned the construction of roads between Lesseru in Eldoret and Amosing in Lokichar that will be used by trucks moving the crude oil from the oil fields of Turkana to Mombasa for export. The Kenya National Highways Authority (KeNHA) has awarded contracts to seven contractors,.... Read more »

Posted on : Thursday , 3rd November 2016

 Kenyan finance minister Henry Rotich said Tuesday the initial exportation of 2,000 barrels of crude oil from Kenya in January 2017 would be an initial stage until the country completes the construction of an oil pipeline.   "We plan to do an early oil export," the Cabinet Secretary told a news conference in Nairobi, during the launch of an International Monetary Fund (IMF) Regional Economic Outlook. "We will begin to.... Read more »

Posted on : Wednesday , 26th October 2016

 Africa is home to some of the world's fastest-growing economies, with many of them relying on oil for foreign exchange.   It is estimated that 57 percent of Africa's export earnings come from hydrocarbons. Proven oil reserves have grown by almost 150 percent, increasing from 53.4 billion barrels since 1980, to 130.3 billion barrels by the end of 2012.    The region is home to five of the top 30 oil-producing countries in.... Read more »

Posted on : Tuesday , 25th October 2016

East Africa is fast becoming one of the world’s most interesting oil and gas hotspots. Tullow Oil is a UK oil and gas exploration and production company, which has been on investors’ lips since the late 1980s. Today, they focus on finding and monetising oil in Africa. Recently, Tullow, Africa Oil and Maersk Oil have been drilling for and finding oil in the neglected northwest region of Turkana in Kenya. Out of a total land mass of.... Read more »

Posted on : Monday , 24th October 2016

 From the Democratic Republic of the Congo (DRC)’s Virunga National Park, to Botswana’s Okavango Delta, to Zimbabwe’s Mana Pools and Tanzania’s Selous Game Reserve, wondrous diversity and natural value make Africa’s natural heritage the envy of the world. Yet research by WWF in 2015 shows that 61 per cent of Africa’s natural World Heritage sites are threatened by concessions or activity by the extractives.... Read more »

Posted on : Friday , 21st October 2016