Gulf Petrochem Group rename entity to Aspam Energy (Kenya) Ltd   NAIROBI, Kenya, July 1, 2015/ -- Gulf Petrochem Group (today announces the official acquisition and name change of Essar Petroleum East Africa Ltd to ASPAM Energy (Kenya) Ltd. The deal will enhance the group’s integrated services and products for the downstream supply chain in the oil and gas sector in East Africa.     Gulf Petrochem Group secured.... Read more »

Posted on : Thursday , 2nd July 2015

 The East African nation has registered an increase of 14.5 per cent in FDI, mainly due to the presence of large natural gas reserves, stated a United Nations report Africa has been earmarked as a popular investment destination, with a host of sectors such as manufacturing, transport, renewables and mining considered popular for foreign direct investments (FDI). However, a report presented by the United Nations Conference on Trade and.... Read more »

Posted on : Thursday , 2nd July 2015

In the latest update by Block 10BB and 13T joint venture partners Tullow Oil and Africa Oil appraisal drilling and Extended Well Tests (EWT) continue to produce positive results.   The Amosing EWT which commenced in May testing five reservoir zones in the field across two wells, in one well the production was tested while pressure responses were measured in the other well.   Production from all five zones was at a combined average.... Read more »

Posted on : Thursday , 2nd July 2015

Maurel & Prom has encountered positive results from its latest well at the Mnazi Bay gas field inTanzania. The MB-4 development well, drilled 800 m from the MB-2 and MB-3 wells at the Mnazi Bay gas field, has crossed Miocene gas reservoirs with net pay of 24 metres (Upper Mnazi Bay) and 43 metres (Lower Mnazi Bay) respectively, both ranked among the best of the five wells drilled at this field so far, the company.... Read more »

Posted on : Wednesday , 1st July 2015

The government has allayed fears on possible fuel shortage while warning suppliers against any move to hoard the product. Defaulters risk indefinite ban and revocation of their licences to operate. The warning was relayed here by the Deputy Minister for Energy and Minerals, Mr Charles Mwijage, following an intervention by the Deputy Speaker of the National Assembly, Mr Job Ndugai, who had asked the ministry to respond to speculations that the.... Read more »

Posted on : Wednesday , 1st July 2015

Dar es Salaam — Tanzania's Foreign Direct Investment (FDI) has risen by 14.5%, thanks to gas discoveries in the country including Songo Songo (below) writes LEONARD MAGOMBA. According to newly launched World Investment Report 2015, the growth makes Tanzania, the leading FDI's destination in the East African Community (EAC). However, the report indicates that Global FDI inflows in 2014 fell by 16% to $1.2 trillion, mostly because of.... Read more »

Posted on : Wednesday , 1st July 2015

 Africa Energy formerly Horn Petroleum Corp has announced that it has provided notice to the Puntland State of Somalia advising of its intention to withdraw from the January 2007 productions sharing agreements in respect of the Nugaal Block and the Dharoor Block, each made among the Company, the Government of Puntland and Range Resources, effective immediately.   In its notice to the Puntland Petroleum and Minerals Agency, the.... Read more »

Posted on : Tuesday , 30th June 2015

 American oil and gas firm Anadarko Petroleum is in talks with Japan-based Jera for long-term supply of liquefied natural gas (LNG) from its Mozambique export scheme. Jera, a joint venture set up by Tepco and Chubu Electric Power in April, aims to turn into the cheapest LNG buyer across East Asia. Anadarko's recent finds in Area 1 of Rovuma Basin in the African country will feed the initial ten million tonnes per annum (mtpa) LNG export.... Read more »

Posted on : Monday , 29th June 2015

 Wentworth Resources has announced that it has successfully raised gross proceeds of USD 7.6 million (GBP 4.9 million, NOK 59.7 million) with institutional investors and certain Directors and members of the Executive Management through a private placement of 15,412,269 new shares.   The private placement saw no discount to market price with the new funds set to provide the Company with sufficient working capital beyond its projected.... Read more »

Posted on : Monday , 29th June 2015

The East African region is emerging as one of the most prolific oil and gas exploration sites in the world. Analysts at Standard Bank say Kenya, Uganda, South Sudan, Ethiopia, Tanzania and Mozambique that have recently made discoveries, have the potential to fundamentally transform their economies through investments in road, rail, power and industrial infrastructure. “Over and above the traditional oil and gas regions in Africa, notably.... Read more »

Posted on : Saturday , 27th June 2015

 Oil discoveries in Uganda and Kenya have also added to the excitement in the sector as new players look to enter these markets, including some of the largest independent and international oil companies, “ Harley, president of DHL Energy Sector noted.   He added that, while Angola and Nigeria have always been the most notable producers within the sub-Saharan region, more recently, deposits in East Africa were diverting the.... Read more »

Posted on : Saturday , 27th June 2015

 The city of Kigali has instructed the National Industrial Research and Development Agency (NIRDA) to relocate Rwanda's bio-diesel project at Mulindi.   In a letter to NIRDA director general Dr Joseph Mungarulire dated May 4, the city authority says the plant located in Nyarugunga sector, Kicukiro District occupies an area designated for residential houses as per City Master Plan.   "Reference is made to the master plan.... Read more »

Posted on : Saturday , 27th June 2015