Swala Oil & Gas is now listed on the Dar es Salaam Stock Exchange (DSE) becoming the first public-owned oil and gas company in East Africa SwalaThe former president of Tanzania Alhaji Ali Hassan Mwinyi rings the bell officiating the first trading day of Swala Oil & Gas on the DSE. (Image source: Swala Oil & Gas)   The Tanzania-based company is the 20th to list on the DSE and the second to list under the enterprise growth.... Read more »

Posted on : Monday , 18th August 2014

 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 West Africa, East Africa has essentially been a forgotten desert in terms of upstream.... Read more »

Posted on : Friday , 15th August 2014

 TANZANIA seeks to train about 300 personnel in natural gas and oil sub-sector by 2020 to ensure the country has adequate skilled workforce to effectively manage the resources.     Energy and Minerals Minister Professor Sospeter Muhongo told a press conference in Dar es Salaam yesterday that the workforce would include lawyers, accountants, auditors and engineers, among others, with bias on gas and oil.... Read more »

Posted on : Wednesday , 13th August 2014

 Tanzania-based energy group Swala Oil & Gas has listed on the Dar es Salaam Stock Exchange (DSE), becoming the first publicly owned oil and gas company in East Africa.  The company is the twentieth to list on the DSE and the second to list under the Enterprise Growth Market (EGM), an equity market specifically intended for small and medium-sized enterprises (SMEs) and start-ups.   The company listed on the EGM with.... Read more »

Posted on : Tuesday , 12th August 2014

 The study by Von Essen, providers of tax advisory services to international contractors, said that a growing number of oil and gas jobs offering more than US$171,172 per annum are being created due to increased exploration and extraction activity in the continent. Von Essen added that Africa is now second to Europe for the number of highly paid roles advertised for top UK oil and gas industry professionals. Europe accounts for 41 per cent.... Read more »

Posted on : Monday , 11th August 2014

NAIROBI, (Xinhua) -- Kenya’s import bill has accelerated by 727 million U.S. dollars in the first six months of this year, compared to a similar period in 2013, Kenya National Bureau of Statistics (KNBS) said on Saturday.   The bill swelled from 7.9 billion dollars in the first half of 2013 to 8.6 billion dollars this year on account of increased inflows of industrial supplies and petroleum products.   The non-food industrial.... Read more »

Posted on : Monday , 11th August 2014

 The Canada-listed company said that the partners have discovered oil reserves in Block 13T and Block 10BB in northern Kenya’s South Lokichar Basin, estimated to hold a combined 600mn barrels. Keith Hill, CEO of Africa Oil, said, “We will likely bring on a partner to help develop Lokichar Basin reserves but no timetable has been set.” Oil discoveries in Uganda and Kenya and gas deposits found offshore Tanzania and.... Read more »

Posted on : Monday , 11th August 2014

 Significant gas discoveries in Tanzania, Kenya and Mozambique have put East Africa in the global spotlight, according to DHL’s executive. Steve Harley, president of energy sector at DHL, said that while Angola and Nigeria have always been the most notable producers within the sub-Saharan region, oil and gas activities in East Africa are now creating a stir amongst global exploration companies and potential investors. “Oil.... Read more »

Posted on : Monday , 11th August 2014

 The parliament of Ghana has endorsed a commercial agreement between the Government, Lonrho Ports Ghana Limited and Atuabo Free Port Company Limited to facilitate construction of the Ghana Oil and Gas Free Port.   The Ghana Oil and Gas Free Port will be set up at Atuabo in the Western Region. The port is also expected to come into full operations in 2016 and will assist in meeting Ghana’s logistics and support requirements in.... Read more »

Posted on : Friday , 8th August 2014

 East Africa would be the next major oil and gas play on the continent, professional services firm PwC Africa Oil & Gas Advisory senior manager Derek Boulware said  Speaking at the launch of the firm’s 2014 Africa oil and gas review titled ‘On the brink of a boom’, he noted that, while about 15 000 wells had been drilled in West Africa to date, only about 500 had been drilled in East Africa. “There is a.... Read more »

Posted on : Wednesday , 6th August 2014

Canadian explorer Africa Oil Corp. and its partner Tullow Oil are likely to bring in a third partner to help develop their oil discoveries in northern Kenya, Africa Oil’s chief executive officer said. The firms discovered oil reserves in Block 13 T and Block 10 BB in northern Kenya’s South Lokichar Basin, estimated at a combined 600 million barrels. Experts say those reserves are enough to make a pipeline viable even without.... Read more »

Posted on : Wednesday , 6th August 2014

China’s Kerui Group which specializes in trading, oil exploration development and renowned as the key manufacturer and supplier of heavy duty equipment extensively used in petroleum exploration and delivery is eying Kenya as the next base of its operations for the East African region. The company already has a presence in 49 subsidiary offices is already present in a number of African states including its largest market.... Read more »

Posted on : Thursday , 7th August 2014