Nigerian President Muhammadu Buhari pledged to clean up Ogoniland and other parts of the Nation’s Oil rich Niger Delta, vastly damaged by frequent crude oil spills. Buhari made the pledge during a maiden visit at the United Nations office in Kenyan Capital Nairobi in Conclusion of his three day state visit to East African Nation.
Here is Why India could be the new Oil Market Hope for Latest Africa Producers
Data at the International Energy Agency (IEA) indicate that India will be (read is) the world’s largest oil market with consumption rate projected at 10 million bpd by 2040. The good news of this according to the Africa Report is that the Asian nation has tasked all its major oil and gas companies to build close
Nigeria and Scotland in New Oil trade talks
A Scottish oil and gas delegation is visiting Nigeria this week with a view to forming partnerships Scottish Development International is leading the delegation and the participants are aiming to achieve a solid understanding of Nigerian market conditions as well as seeking out potential local partners. The delegation is participating in the Offshore West Africa
Expert; How East Africa is paving way in the spotlight and changing Africa’s Oil map
By Thangapandian Srinivasalu Africa produced 8.2m b/d of crude last year – 76% came from Nigeria, Algeria, Egypt and Angola, according to PricewaterhouseCoopers’ (PWC) 2015 Africa Oil & Gas Review. But East Africa is elbowing its way under the spotlight and changing Africa’s energy map – a move easily justified by its wealth of oil
IMF predicts higher Economic growth rate for Mozambique from new Gas discoveries
By Agencies… The International Monetary Fund (IMF) predicts that Mozambique’s average growth rate during the first half of the next decade could reach the staggering figure of 24 per cent per annum. This optimism is based on the assumption that gas processing facilities in the Rovuma Basin, in the far north of the country, will
Analysis: Will Kenya be a Rule-Maker or rule-taker in the ‘uncertain’ Crude oil Business?
By Hez Gikang’a The big economic and financial news of 2016 is the complete rout of crude oil benchmark prices after prices hit an all-time decade low of US$30 per barrel Tuesday January 12th; markedly different circumstances and a far cry from the exuberance exuded by the Kenyan government, markets, pundits & oil companies in
We reset Business plan in 2015 to deal with market challenges—Tullow Oil
Tullow Oil Plc says it was prompted to reset the business in order to deal with the effects of the uncertain market situations as it labored deliver on key operational goals in 2015. The observations were made by Tullow’s Chief Executive Aidan Heavy as published in the company’s operational activities and trading Statement for the
South Sudan seeks to renegotiate Crude Transportation Charge with Khartoum
South Sudan has asked immediate neighbor Khartoum to lift the lease of crude oil transportation facilities and cost due to danger posted by current market prices. South Sudanese Foreign minister, Barnaba Marial Benjamin made the appeal in an interview with Ashrooq television in which he noted that the country’s proceeds from oil had narrowed due
Kenyatta wants Plan to transport Crude Oil by road Finalized by end of January, Oil expected at Port by September 2016
Kenya President Uhuru Kenyatta has given a ‘State House team’ until the end of January to work out on the logistics of transporting the crude oil from the oil fields in the Turkana region to the sea-port according to latest Reports. A source quoted by The East African newspaper, said the team has been asked
Export Pipeline needed to enable Commercialization of Uganda and Kenya Oil—Expert
With recoverable oil reserve estimates of approximately 750 MMbbl and 600 MMbbl in Uganda and Kenya, respectively, and with government share of the reserves expected to be about 30–50%, the potential impact on economic development in these countries could be great. However, new infrastructure, including an export pipeline, is required to enable commercialization of these