East African oil and gas discoveries are poised to fundamentally transform the economies of the region as the fuel resources usher in new investment in road, rail, power and industrial infrastructure, according to Standard Bank. Uganda, Kenya, South Sudan, Ethiopia, Tanzania and Mozambique have emerged as one of the most prolific oil and gas exploration regions in the world over the last 10 years, says Mr Simon Ashby-Rudd, the London-based.... Read more »

Posted on : Tuesday , 29th July 2014

DAR ES SALAAM, Tanzania - Swala Oil and Gas Tanzania Plc has offered 9.6 million shares to the public following its approval by the Tanzania Capital Markets and Security Authority (CMSA). The listing of Swala makes it the first oil and gas exploration firm to list on the Dar es Salaam Stock Exchange (DSE) in Tanzania. CMSA has approved Swala’s Initial Public Offer Prospectus last week. “This allows Swala to offer to the public.... Read more »

Posted on : Tuesday , 29th July 2014

Kenya's Great Rift Valley, a 450-mile-long volcanic trench ripped open by shifting tectonic plates, is known as the cradle of mankind for the million-year-old remains of human forebears discovered there. Oil drillers say the area also holds a string of fields that could make East Africa's largest economy a major energy producer. The U.K.'s Tullow Oil (TLW:LN) and Canada's Africa Oil found crude at two wells last year and now plan up to 11 more.... Read more »

Posted on : Monday , 28th July 2014

Kenya’s run of geologic luck continues, following the announcement of the country’s fourth consecutive discovery of oil by the UK’s Tullow Oil and Canada’s Africa Oil. Similarly, while activity in the natural gas sector is proceeding at a slower pace, following the recent departure of one explorer, the outlook for new finds is promising. New wells Tullow and Africa Oil, which are joint partners in the exploration of.... Read more »

Posted on : Monday , 28th July 2014