Market News| Africa Business News

KPC secure Sh35 billion for new Mombasa-Nairobi pipeline

KENYA Pipeline Company has secured a $350million (Sh35.6 billion) loan to finance the construction of a new 450-kilometre oil pipeline from Mombasa to Nairobi. The state owned oil distributor will upgrade to a 20 inch ultra-modern multi-product oil pipeline to replace the more than 30 year old - 14 inch pipeline currently in use. Speaking during the loan signing with a consortium of six banks, KPC acting managing director.... Read more »

Posted on : Friday , 17th July 2015

Oil and gas waste monitoring system to be installed in East Africa

The ministry of water and environment on Monday commissioned oil and gas waste monitoring system that will reinforce Uganda’s preparedness to control pollution as it moves closer to start extracting oil. The online real-time water quality monitoring system is an assortment of sophisticated equipment and machines that will be able to detect any form of foreign substance in water and relay information to the control centre in.... Read more »

Posted on : Wednesday , 15th July 2015

Oil refinery to be constructed in East Africa

Construction of an oil refinery in Hoima District is expected to start before December this year, the Ministry of Energy and Mineral Development has said. “It is anticipated that construction will start in 2015 and first phase of the refinery will be ready around 2018,” said Ms Catherine Bekunda, a communications officer in the Ministry of Energy’s Directorate of Petroleum. She was speaking during a one-day.... Read more »

Posted on : Wednesday , 15th July 2015

Kenya Somali Maritime Border Case Headed For The International Court Next Week

A fortnight after Kenya’s foreign affairs minister Amina Mohammed said that the East African nation and its horn of African neighbor had agreed to settle maritime border issues outside the international court of Justice the Somalia government has said it would submit the case next week. According to the Somali publication Somali Current the decision follows consultations between the horn of Africa nation officials with.... Read more »

Posted on : Thursday , 9th July 2015

New Petroleum Producers Survey Policy Options In Wake Of Oil Price Slump

Countries seeking to develop newly-discovered petroleum resources are facing a fall in global oil prices, with competition from the ‘shale gas revolution’ in the United States, as well as renewable energy sources. At a New Petroleum Producers Discussion Group in Tanzania, organised by Chatham House and co-sponsored by the Commonwealth Secretariat, authorities from more than 20 countries met this week to find solutions to.... Read more »

Posted on : Thursday , 9th July 2015

Gas pipeline for trial operation this month

The natural gas pipeline connecting offshore reserves south of the country to Dar es Salaam will be put into trial operation later this month. The government said the commissioning of the pipeline would boost power generation and supply gas to factories and homes. The 532 km (330 mile) pipeline and gas processing plants, financed by a 1.23 billion US dollar Chinese loan, were initially expected to be completed last year.... Read more »

Posted on : Wednesday , 8th July 2015

Tanzanian lawmakers pass disputed petroleum bill

Tanzania's parliament on Sunday approved a legal and regulatory framework for developing its nascent hydrocarbons industry, after days of contentious debate. East Africa has become a new oil and gas frontier after a string of discoveries that producers hope to exploit to supply energy-hungry Asian markets. Tanzania estimates it has more than 55 trillion cubic feet of natural gas but has yet to make oil.... Read more »

Posted on : Monday , 6th July 2015

Ghana aims to be port of call for west Africa�s offshore oil industry

In April, the China Harbour Engineering Company was awarded a $600 million contract for the project, which is sited 326 kilometres west of Ghana’s capital, Accra, and just 100km west of Takoradi, the centre of the country’s emerging oil industry. Dedicated free trade ports are something of a fashion among developing economies, which see them as a way to encourage investment. Already other African.... Read more »

Posted on : Monday , 6th July 2015

Tullow Enjoys Strong Oil Production in West Africa

Independent producer Tullow Oil reported Wednesday that it had seen strong oil production from its West African operations during the first half as the company took action to "re-set" its business. During the first six months of 2015, Tullow's West Africa working-interest oil production averaged 66,500 barrels per day. The firm said that, as a result of strong performance from its Jubilee field offshore Ghana, it was increasing.... Read more »

Posted on : Monday , 6th July 2015

Golar, Perenco Reach Agreement on Commercial Terms of Cameroon FLNG Project

Golar LNG Limited (Golar) announced Tuesday that, further to the announcement on Dec. 24, 2014 regarding the signing of a Heads of Agreement with Societe Nationale de Hydrocarbures (SNH) and Perenco Cameroon (Perenco) for the development of a floating liquefied natural gas (FLNG) export project in Cameroon, agreement has now been reached with the support of the Boards of both Golar and Perenco on the material commercial terms and.... Read more »

Posted on : Monday , 6th July 2015

Fast Growing Tanzania Looks To Begin LNG Production By 2020

With an estimated 46.5 trillion cubic feet of natural gas reserves that are expected to rise to 200 trillion cubic feet in the next two years, Tanzania is now firmly on the world energy map as a hot spot for the global energy industry. A recent PricewaterhouseCoopers report noted that Tanzania’s infrastructure has drawn significant investment over the past several years and predicts that within a decade it will become a.... Read more »

Posted on : Saturday , 4th July 2015

17 Companies Shortlisted For Uganda�s First Licensing Round For Petroleum Exploration, Development And Production

Following the end of a deadline for the Process of receiving the Request for Qualification ended on 30th June, 2015 the Ministry has said it has registered seventeen valid applicants out of the nineteen applicants that had registered for licenses in six blocks in the Albertine Basin. The six blocks on offer are; Ngassa (410 Km2) in Hoima District, Taitai & Karuka (565 Km2) in Buliisa District, Ngaji (895 Km2), Rukungiri &.... Read more »

Posted on : Thursday , 2nd July 2015