Speculative media reports coming from Kenya say the country is in preparation to pump its Oil deposits from Lokichar valley to the International market in early 2016. According to Oil News Kenya, the nation’s leadership has reached significant discussions on the issue with the latest being using road transport means as the nation awaits the
The ‘not so good’ awaiting Nigeria Oil industry amid the threat of falling prices in 2016
This coming year is shaping up to be a difficult one for economies that are disproportionately dependent on oil. This is especially true for Nigeria, where there’s a possibility of renewed conflict in the country’s oil-producing Niger Delta region, according to SBM Intelligence’s recently published “Nigeria in 2016” report. The global oil picture is stacked against countries like
New Reservoir discovery makes ‘Africa Oil’ stronger in Kenya Oil sector
Africa Oil announced that the Etom-2 well in Block 13T in northern Kenya has discovered 102 metres of net oil pay. The company in a press statement indicated that Oil samples, sidewall cores and wire line logging all indicate the presence of high API oil in the best quality reservoir encountered in the South Lokichar
Hope as Indian refineries Clear African Crude Oil off the shelf
By agencies… Indian refineries continued to moped cargoes of West African crude oil, underpinning what was otherwise a saturated market. Refineries HPCL and BPCL together booked at least four million barrels of West African oil, adding to the six million booked earlier by IOC in a tender. IOC has another tender pending this week to
Shell and Eni Paid $1.1bn ‘behind closed door’ to acquire Oil exploration rights in Nigeria, says Global Witness
Oil majors Shell and Eni paid US$1.1bn to an Illegal company and secured exploration and production rights for one of West Africa’s largest oil fields, situated off the coast of Nigeria, Global witness has said. The company called Malabu Oil and Gas, was by the time of payment in 2011 secretly owned by the former
Tanzania to start Advanced Oil search in Lake Tanganyika
Tanzania Petroleum Development Corporation (TPDC) will start an advanced search for oil in Lake Tanganyika, Uganda Oil has learnt. From its first stages of surveys across Lake Tanganyika waters, TPDC believes that a greater part of the the lake contains abundant oil resources. The authority harbored interests in making advanced search in the second largest freshwater
Tullow announce Farm-down in Kenya, expects to make Final Investment Decision in Uganda in 2017
British-African Giant Tullow Oil Plc has expressed optimism about the status of its development projects in East Africa saying it’s nearing Final Investment Decision (FID) The revelations are contained in the Company’s November Trading update, which details the current project status and the business projection of the last quarter of the company’s Financial year. Tullow
Nigeria Echos need to Renegotiate Commercial Oil contracts, says sector is no longer profitable
LAGOS The Nigerian National Petroleum Corporation (NNPC) said its latest move to re-negotiate Oil and Gas contracts is a part of a series of measures to save the nation from the devastating sharp fall of revenues from the oil Industry. In a presentation at the 33rd Annual International Conference and Exhibition organised by Nigerian Association of
‘Maersk’ and ‘Africa Oil’ agree to Co-Own Onshore exploration Licenses in Kenya and Ethiopia
Danish Oil giant Maersk Oil has entered a farm-out agreement with Canadian based Africa Oil Corporation to acquire 50 percent stake in three of the latter’s onshore exploration licences in Kenya and a further two in Ethiopia. The exploration areas in question cover the Turkana region of northern Kenya and southern Ethiopia. According to a statement
Shell has defied Orders to Clean Oil spills in Nigeria says Amnesty International
Oil giant Shell is “blatantly false” when it claims it is cleaning up spills that continue to destroy the livelihoods of hundreds of thousands of Nigerians, Amnesty International said. A new report quotes one contractor as saying his clean-up was “a cover-up” that involved simply turning over earth to let spilled oil dry for a few days, then