Oil & Gas

Envoy calls on Dangote to invest in Tanzania’s petroleum industry

Feb 19, 2019

Impressed by the vastness of the Dangote Refinery currently under construction, the Commissioner in the High Commission of the United Republic of Tanzania, Mr. Muhidini Ally Mboweto, has sought the assistance of Africa’s foremost entrepreneur, Aliko Dangote, in the development of his country’s energy sector, specifically petroleum. The Commissioner who led a delegation from Tanzania…

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Chinese firm to build Ethiopian-Djibouti gas pipeline

Feb 19, 2019

China’s Poly-GCL Petroleum Group Holdings Limited will build the 767-km Ethiopia-Djibouti gas pipeline, the Ethiopian Ministry of Mines and Petroleum said on Saturday. The minister said Ethiopian and Djiboutian government officials agreed that Poly-GCL would begin construction of the pipeline project this year. Last April, the Ethiopian government announced plans to generate US $ 1…

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Tanzania, Uganda top East Africa’s project funding needs for 2019

Feb 18, 2019

Tanzania and Uganda’s oil and pipeline projects will top this year’s infrastructure transactions in the region, with the two countries seeking over $7 billion funding for the projects, a new report shows. According to Debtwire’s Africa Project Finance Trend update for 2019, the oil and infrastructure sectors are the most likely to attract interest from…

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Sound Energy provides operations update for TE-10 well in the Greater Tendrara permit, Morocco

Feb 18, 2019

Sound Energy, the Moroccan focused upstream gas company, has provided a further update on operations in Eastern Morocco, following the Company’s announcements of 27 December 2018, 7 January 2019 and 28 January 2019. The Company previously announced a discovery, and a planned stimulated well test, at TE-10, the second well in Sound Energy’s current three…

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Tullow begins search for Kenya oil buyers

Feb 18, 2019

British oil exploration company Tullow has started the search for buyers of Kenya’s small-scale crude petroleum exports ahead of the first shipment expected in the next four months. The UK multinational, in a trading update filed Wednesday at the London Stock Exchange, said it had received interest from unnamed potential buyers of the commodity. “Tullow…

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Ghana’s oil production set to more than double in next 4 yrs – Minister

Feb 18, 2019

Mr Ken Ofori-Atta, the Minister of Finance has said the overall crude oil production from Ghana is expected to more than double over the next four years. “Overall, crude oil production is expected to increase from 196,089 barrels per day in 2019 to 420,020 barrels per day in 2023,” he said, adding that, the first…

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Somalia denies auctioning Kenyan oil blocks in disputed territory

Feb 18, 2019

Somalia has denied auctioning Kenya’s potential maritime zones that are in dispute at the International Court of Justice, The country’s Foreign Ministry said in a statement on Sunday night that it is ready and willing to cooperate with Kenya in finding an amicable solution to the crisis that has caused a diplomatic tiff between the…

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Equatorial Guinea set to launch April licensing round

Feb 17, 2019

Equatorial Guinea is set to launch a licensing round on 1 April that will offer gas-rich Block R, which was operated by Ophir Energy until the end of last year when the licence lapsed. The London-based player had hoped to secure an extension to the block in an effort to commercialise more than 2 trillion…

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Eni granted two exploration blocks onshore Egypt

Feb 17, 2019

The first block, “South East Siwa” (Eni 100%), has been assigned within the EGPC 2018 competitive bid round. The block, which has an acreage of 3,013 km2, is located in the Western Desert close by to the Eni “SW Melehia” Concession, where two commercial oil discoveries have recently been announced and for which development plans…

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Kenya’s ERC drops price of diesel to 13-month low

Feb 17, 2019

The Energy Regulatory Commission (ERC) has cut the price of diesel to a 13-month low, offering hope for lower transport and machine operations costs. In Thursday’s price review, a litre of diesel in Nairobi will now retail at a maximum Sh95.96, following a Sh6.28 cut. This price was last seen in January last year when…

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