The oil and gas sector is set to see increased deal activity across the world as a result of low oil prices, the latest report from consulting firm AT Kearney showed.   The report said that mergers and acquisitions in the oil and gas sector showed strong growth in 2014 after a slow year in 2013.   Meanwhile the fall in oil prices and the decision of OPEC to not cut output in 2015 are the main factors that will spur M&As.... Read more »

Posted on : Monday , 2nd February 2015

 Kenya has agreed to acquire 2.5 per cent of the upcoming Uganda oil refinery, in a deal estimated to cost the exchequer US$ 61m. Uganda, which has 6.5 billion barrels in reserves, hopes to complete the first phase of construction in 2018.   Energy and Petroleum PS Joseph Njoroge confirmed the news on Monday last week, pointing out that they had decided to consider the offer to enhance and support the growth and relationship of East.... Read more »

Posted on : Saturday , 31st January 2015

  The 250-megawatt project will be commissioned in the following 18 months, Managing Director Paulinus Shilamba said Friday in a telephone interview. The plant, to be located in Namibia’s coastal Erongo region, will use fuel sourced from a U.S.-based gas trader, he said.   “Various fuel options were investigated prior to initiation of the procurement process,” Shilamba said. “Gas and heavy-fuel oils were found.... Read more »

Posted on : Friday , 30th January 2015

 "If all these are added together we will have about one million barrels per day refining capacity, I also presumed that NNPC is planning to upgrade its refineries by increasing the capacity and modernising the technologies, they have the potential of doubling the capacity from 445,000bpd to 900,000bpd," he said.   Soyode said making the refineries competitive is the only way for NNPC to achieve its improvement target on.... Read more »

Posted on : Friday , 30th January 2015

 Nairobi — Vivo Energy Kenya, which distributes and markets Shell-branded fuels and lubricants in Kenya, has become the first oil marketer in the country to import Low Sulphur Fuel Diesel (LSFD) with 50 parts per million (ppm) sulphur content. This follows a December 6, 2013 legal notice by the East African Community to amend the sulphur content from 500PPM to 50PPM; to take effect from January 1, 2015. Through the Open Tender.... Read more »

Posted on : Thursday , 29th January 2015

    World’s leading manufacturer of construction and mining equipment Caterpillar has said it expects a tough 2015 as a result of the modest improvement anticipated globally as well as the continued weakness in commodity prices—particularly oil, copper, coal and iron ore as to which the company depends on for its sales.   The company adds to undertake restructuring actions  that will cost the company about.... Read more »

Posted on : Wednesday , 28th January 2015

The Tanzania Petroleum Development Corporation (TPDC) has said the construction work of the natural gas pipeline will be completed by the end of this February. The completion of 542 km pipeline between Madimba –Mtwara and Dar es Salaam will save US $1 billion annually in heavy oil for electricity generation. Acting TPDC Managing Director James Andilile said the major construction works have been completed by 97 percent, and that the.... Read more »

Posted on : Tuesday , 27th January 2015

The World Bank says in its 2015 global economic prospect report that several low-income countries, including those in East Africa, may graduate to middle-income status on the back of substantial oil and gas discoveries. “East Africa, in particular, has emerged as a “new frontier” for oil and gas in the past half-decade…newly discovered oil reserves in Uganda and Kenya have the potential of coming on-stream by the end of.... Read more »

Posted on : Tuesday , 27th January 2015

Nigeria has recommenced operations on its Trans Forcados oil pipeline, a senior oil official said on Monday. This will revive the generation part of the network which is paramount to almost half of the country’s gas production. David Ige, Executive Director of gas and power at Nigerian National Petroleum Corp, told Reuters that the pipeline, which had been shut for a week due to sabotage, resumed on.... Read more »

Posted on : Tuesday , 27th January 2015

In the last three years, in the Western Desert of Egypt Eni has doubled its oil production through exploration of deep sequences. Eni has announced a new discovery of oil and gas in the West Melehia deep exploration prospect, located in the Melehia licence, in the Western Desert of Egypt, 300 square kilometers west of Alexandria.   The exploration well, which allowed the discovery of Melehia West Deep 1X, was drilled to a depth of 4,175.... Read more »

Posted on : Saturday , 24th January 2015

 Lekoil (AIM: LEK), the oil and gas exploration and development company with a focus on Nigeria and West Africa more generally, announces the completion of an Addendum to the Competent Persons Report on the Otakikpo Marginal Field by AGR TRACS International Ltd, the authors of the original CPR in September 2014. The Addendum to the September 2014 CPR covers the recent progress on the project following approval, in early December 2014, by.... Read more »

Posted on : Saturday , 24th January 2015

 Further exploration activities in the North Kerio Basin to be considered after Epir-1 exploration well demonstrates working petroleum system. Ngamia and Amosing appraisal wells suspended for use in Extended Well Test. Tullow Oil plc (LSE: TLW) provides an update on a series of exploration and appraisal activities in onshore Kenya Blocks 10BB, 13T and 10BA.   Epir-1 exploration result   The Epir-1 exploration well is located.... Read more »

Posted on : Saturday , 24th January 2015