Market News| Africa Business News

East Africa�s Potential Whets Energy Investors� Appetites

Africa’s appetite for gasoil and petrol is expected to climb by as much as 8 per cent, while demand for liquefied petroleum gas (LPG) has hit double digits. The continent’s expanding home-grown energy supply will help to satisfy some of the burgeoning demand, in a process that is creating opportunities for investors, especially in East Africa. Africa produced 8.2 million barrels per day of crude last year, with 76 per cent coming.... Read more »

Posted on : Monday , 7th December 2015

Simba Completes Definitive Agreement for Block 2A, Kenya

Simba Energy Inc. (the “Company” or “Simba”) (TSX Venture: SMB) (Frankfurt: GDA) (CQX: SMBZF) is pleased to announce it has executed a definitive farmout agreement (“Definitive Agreement”) with Essel Group Middle East DMCC (“Essel Group Middle East”) on Block 2A in Kenya wherein Essel Group Middle East will earn a 60%participating interest in Block 2A by funding 100% of exploration expenses until.... Read more »

Posted on : Saturday , 5th December 2015

Tanzania: Huge Business Opportunities Await SMEs in Gas, Oil Sector

Aberdeen City Council Director, Gordon McIntosh, sharing the Scottish City experience in the industry, said the government ought to help the small businesses to identify the available opportunities as well as issue financial support in the form of grants and loans. He said Mtwara was a potential East and Central Africa’s gas and oil hub, challenging the government however to work closely with the private sector to realise the dream..... Read more »

Posted on : Saturday , 5th December 2015

Hydrocarbon Exploration Undertaken At Lake Tanganyika North Block With Airborne Gradiometry Surveys

Tanzania Petroleum Development Corporation (TPDC) has recently announced the undertaking of Airborne Gravity Gradiometry Surveys (AGGS) on Lake Tanganyika North Block, aiming at acquiring high resolution gravity and magnetic data to map the geology of the framework’s subsurface. The AGGS is being fully funded by TPDC’s Development Fund and mapping activities will last until January, 2016 over the districts of Kigoma Rural,.... Read more »

Posted on : Friday , 4th December 2015

Tanzania: Scottish Expert Tips TZ on Natural Gas Benefits

Dar es Salaam — A Scottish international consultant in oil and gas, Mr Gordon McIntosh, urged Tanzania yesterday to refrain from the allure of depending on multinationals in the building of supporting infrastructure for natural gas investments. Mr McIntosh, who doubles as director of Aberdeen City Council, told The Citizen yesterday that Tanzania needs to build its own supporting social service and economic infrastructure like.... Read more »

Posted on : Friday , 4th December 2015

Ghana Gas Resumes Supply to VRA

The Volta River Authority (VRA) has resumed gas offtake from Ghana Gas following a "successful tie-in to the VRA main gas pipeline," a statement issued by Ghana Gas indicates. The press release signed by Corporate Communications Officer, Alfred Ogbamey, states that the VRA is expected to now generate 600MW of power to be integrated into the national grid in order to improve the power situation. It will be recalled that the VRA.... Read more »

Posted on : Friday , 4th December 2015

East Africa Emerging as Hot-Bed for Energy Related Investments

East Africa is emerging as a hotbed for energy related investments not only for its robust economic growth, but also for its potential to become one of the largest producers and exporters of oil and natural gas in the world. Countries like Tanzania, Kenya, Ethiopia, and Rwanda – which have traditionally depended on biomass to meet most of their energy requirements – are gradually shifting to modern energy sources to meet the.... Read more »

Posted on : Thursday , 3rd December 2015

Kenya Ports Authority to construct new oil terminal

The Kenya Ports Authority (KPA) says the construction of a new oil terminal in Mombasa will start 2016 in a bid to give way for the relocation of the old Kipevu terminal and help in the expansion of the country’s petroleum handling and storage capacity by about 400% including loading facilities. The relocation of the oil terminal will be overseen by a Danish consultancy firm, NIRAS. Kenya Ports Authority Managing.... Read more »

Posted on : Wednesday , 2nd December 2015

Mozambique to Expand Gas Pipeline to SA

The Republic of Mozambique Pipeline Investments Company (Rompco), a joint venture between Sasol, Companhia Mocambiçana de Gasoduto and South African Gas Development Company (iGas), plans to expand the 865km gas pipeline that transports gas from Mozambique to South Africa. The US$210m expansion entails the installation of a pipeline parallel to the existing one from scraper station 1 (STS1), which is about 128km from the Central.... Read more »

Posted on : Tuesday , 1st December 2015

Oil Firm Wants Tanzania Favours

The government has been asked to consider reviewing the current Production Sharing Agreement (PSA) system to make exploration and related activities within awarded licences more realistic. “We understand that the nation needs tax revenues, but I think it is counterproductive to tax operations if by taxing them, they are delayed or made more expensive.Tthe returns from operations will dwarf any revenues that the country may make.... Read more »

Posted on : Monday , 30th November 2015

Tanzania: Government Advised to Review Oil, Gas Search Pacts

Chief Executive Officer of Swala Oil and Gas Company, Dr David Mestres Ridge, advised the government to fast-track oil and gas exploration in the country. “The government should be sensitive to challenges faced by the exploration and production companies. “Although the oil and gas sector has had a steady growth over the years, the sector had already spent a fortune in the exploration and therefore, needs some consideration.... Read more »

Posted on : Saturday , 28th November 2015

1.6 Billion Tons of Oil Reserves in Sudan

Khartoum – Ahmed Jibril Al-Amin, Lecturer at the University of Bahri, has said that Sudan holds oil reserves of 1.6 billion tons, with gas reserves of 6.5 billion cubic feet. In his paper, (Carbohydrates resources in Sudan) at the UNCTAD conference on oil, gas and mining held currently in Khartoum, Al-Amin reviewed the primary components of basins producing oil and gas in Sudan. The Secretary General of the United Nations Conference.... Read more »

Posted on : Thursday , 26th November 2015