Market News| Africa Business News

East Africa: Natural Gas Connections Vital Cog On the Path to Becoming East Africa's 'Power' House

Since sometime in 2012 or earlier than that, there were reports of the government's move to supply natural gas to homes--with a pilot project to connect homes in Mikocheni and international hotels. The move was followed by inauguration of a distribution pipelines connecting homes and the hotels, raising new hopes of accessing the crucial energy more cheaply. Three gas distribution centres are in place since 2014; in Sinza,.... Read more »

Posted on : Thursday , 20th October 2016

Swala Tanzania seeks $120m to fund oil exploration in East Africa

Swala Oil & Gas (Tanzania) has engaged Exotix Partners to raise $120 million in corporate bonds for funding expansion in East Africa. The Dar es Salaam Stock Exchange-listed firm recently acquired oil exploration interests in Burundi from Surestream Petroleum Ltd of Britain and intends to venture into other parts of Africa. Surestream through a subsidiary, Surestream Petroleum (Burundi), owns block D around Lake.... Read more »

Posted on : Wednesday , 19th October 2016

East Africa: Households, Industries to Get Natural Gas Connections

Since sometime in 2012 or earlier than that, there were reports of the government's move to supply natural gas to homes--with a pilot project to connect homes in Mikocheni and international hotels. The move was followed by inauguration of a distribution pipelines connecting homes and the hotels, raising new hopes of accessing the crucial energy more cheaply. Three gas distribution centres are in place since 2014; in Sinza,.... Read more »

Posted on : Tuesday , 18th October 2016

Ethiopian government to set up petroleum and mineral exploration corporation

The Ethiopian government is finalizing plans of setting up a giant corporation that will be involved in exploration, development and trading of petroleum, the exploration and development of minerals and the development of bio- fuel dubbed Ethiopian Minerals, Petroleum and Bio-Fuel Corporation with an authorized capital of $675 million. The giant corporation under formation comprises three divisions ˗Petroleum, mining.... Read more »

Posted on : Tuesday , 18th October 2016

'Give SA its own fracking agency�

There is a clean future without coal-fired power stations in South Africa. It is a future in which wind and solar plants feed power into the national grid for 80% of the year. These will be backed up by gas-fired generators. But the dangers of getting that gas out of the ground means a patient process has to be followed to answer any questions and quell concerns. That’s because South Africa refused to join most other.... Read more »

Posted on : Monday , 17th October 2016

Tullow Oil to haul oil in Kenya

Tullow Oil’s Kenyan unit has said it is seeking trucking companies to transport crude from northwestern fields to the port city of Mombasa as the East African nation rushes to export its first oil by mid-2017. The work will involve the trucking of crude in insulated containers from a production facility near Lokichar, Turkana county, to storage facilities run by Kenya Petroleum Refineries, Tullow Kenya said yesterday in an.... Read more »

Posted on : Saturday , 15th October 2016

Dangote to become oil and gas giant in Africa

Dangote Group of Companies, renowned in the production and distribution of cement in the West African sub-region are now wading into the oil and gas sector and is envisaged to have the largest oil refinery company in Africa. The $ 16 billion world class refinery/ Petrochemical complex comprise a refinery, petrochemical and fertilizer plants. This came to light when Mr Anthony Chiejina, Chief Corporate Communications Manager of.... Read more »

Posted on : Wednesday , 12th October 2016

State to upgrade crude oil refi nery for exports

The government plans to spend up to Sh1.5 billion to modify the dormant petroleum refinery in Mombasa to handle waxy crude oil from Lokichar Basin for export from next June. Petroleum Principal Secretary Andrew Kamau on Friday said the cash will be used to instal heating equipment among other things at the Kenya Petroleum Refineries, which has been idle since September 2013. This was after India’s Essar Energy fell.... Read more »

Posted on : Tuesday , 11th October 2016

Tanzania: Nigeria Firm Plans 900mw Gas Plants

Lagos — Sahara Group, a Nigerian energy conglomerate is looking to constructing two gas-fired power plant that are capable of generating 900MW as the firm expands business in Tanzania. The company which is now involved in oil trading alone in Tanzania says it's ready to do that once the government gives a nod. "We have been in talks with the government and now we are waiting for the Tanzania National.... Read more »

Posted on : Friday , 7th October 2016

Hashi Energy lands Sh14 billion supplies deal from Dubai venture firm

Hashi Energy Holdings has inked a lucrative Sh14.18 billion ($140 Million) partnership deal with Dubai's business group S.S. Lootah International. It is targeting deals in supply of food and petrol, logistics and infrastructure in East and Central Africa. Under the agreement, the two firms will collaborate to supply the United Nations' mission in the Democratic Republic of Congo with petroleum products, trucks for.... Read more »

Posted on : Thursday , 6th October 2016

Tanzania, Congo sign deal for joint petroleum exploration

Tanzania and the Democratic Republic of the Congo signed a memorandum of understanding on Tuesday for joint exploration and development of hydrocarbons in Lake Tanganyika. The lake, which straddles the border between Tanzania, Democratic Republic of Congo, Burundi and Zambia, is the world's second largest by volume and second deepest, according to officials. "We have signed a memorandum of understanding to exchange.... Read more »

Posted on : Wednesday , 5th October 2016

Seimens to support gas-to-power generation in South Africa

Siemens has stated that it is committed to support gas-to-power generation in South African through its supplier and enterprise development initiative “Adding gas-to-power generation to the South African energy mix will be a major driver of economic prosperity, adding billions of rands to GDP and thousands of new jobs”, said Sabine Dall’Omo, CEO of African engineering giant Siemens. Generating clean and.... Read more »

Posted on : Tuesday , 4th October 2016