Tanzania will sign key agreements with oil majors including Equinor ASA and Shell Plc next month to pave the way for a planned $40 billion liquefied natural gas export project, according to the nation’s Energy Minister January Makamba. “It’s happening,” January Makamba said in an interview in Sharm el-Sheikh, Egypt, where he is attending the COP27 international climate summit. “In December, we will conclude the conversation. We.... Read more »

Posted on : Tuesday , 15th November 2022

The recently formed sovereign wealth fund (SWF), Ethiopian Investment Holdings (EIH), crosses the border to hold stake in a lucrative mega logistics facility in Djibouti. As indicated by the information that Capital obtained, the 1st overseas investment venture for the SWF will come through a secured 30% stake in an ultra-modern oil port facility, which can comfortably accommodate the latest generation vessels. The investment holding.... Read more »

Posted on : Tuesday , 15th November 2022

Kenya is setting up standards that will pave the way for the commercialisation of biogas, a move that will offer cheap energy for consumers in the wake of the high cost of LPG and generate revenue for producers, according to Business Daily Africa. Kenya Bureau of Standards (KBS) said it is working on the norms for the packaging of biogas, which is the only thing that has been missing in the commercialisation of the methane gas made from.... Read more »

Posted on : Tuesday , 11th October 2022

Kenya intends to pursue the construction of a gas pipeline linking Tanzania's main city, Dar es Salaam, to the coastal city of Mombasa and on to the capital Nairobi, in a bid to reduce energy costs, Kenya's president William Ruto has said. The 600km pipeline has been estimated by local reports to cost around US$1.1bn (£990m). The President spoke to Tanzanian media on 3rd October, shortly after holding bilateral talks with President.... Read more »

Posted on : Tuesday , 11th October 2022

Africa Oil expects a number of developments in the next month or so, including the spud of the Gazania well, an extension to its licence in Nigeria and the signing of a Kenya deal. The company’s famously bullish CEO and president Keith Hill said the Island Innovator rig was 10 days out from arriving on location in South Africa. Block 2B, the site of the Gazania well, is in a rift basin where a previous well has found oil. “It’s.... Read more »

Posted on : Tuesday , 27th September 2022

PLANS are underway for Tanzania Petroleum Development Corporation (TPDC)'s subsidiary TANOIL to partner with an Omani conglomerate in oil and gas, Oman OQ to engage in retail business of petroleum products. This was revealed during a meeting between the Minister for Energy, Mr January Makamba, and the Ambassador of Oman in Tanzania, Mr Saud Hilal Al Shidhani. The 2 leaders also discussed partnership between TPDC and Oman OQ in whole.... Read more »

Posted on : Tuesday , 20th September 2022

ONGC Videsh and Indian Oil Corp. are in talks to amass a stake in Tullow Oil Plc's $3.4 billion venture in Kenya, in accordance with folks with data of the matter. The transaction's worth could also be between USD 2 billion and USD 3 billion, the folks stated, asking to not be recognized as a result of the talks are personal. The Indian state-backed firms will probably be joint operators of the venture after the deal, they stated..... Read more »

Posted on : Thursday , 25th August 2022

When it comes to oil and gas in Africa, there is plenty of potential to produce enough energy on the continent. Africa accounted for approximately 8%of the global oil output in year 2020. Similarly, at least 330 million metric tonnes of oil will be produced in Africa in 2020 (Statista). Global oil and gas players such as ExxonMobil, Shell, Equinor, and BP are pushing the continent forward. The energy sector in East Africa is rapidly.... Read more »

Posted on : Wednesday , 17th August 2022

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

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 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

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