A Tanzanian official says the nation is working to put up a 150-200 million US dollars mega plant to facilitate the transportation of the natural gas to large-scale industries and households. The Tanzania Petroleum Development Corporation (TPDC) Acting Managing Director, Engineer Kapuulya Musomba, said that the regions which will benefit from the new project include
Documents from the office of Kenya Auditor-General show that the country has earned Sh503.2 million from oil exploration works by foreign firms local media reported. According to Business Daily Africa, a total of Sh503,260,733 was collected last year as revenue from exploration. Petroleum Cabinet Secretary Andrew Kamau said “The cash (Sh503 million) came from surface
Kenya’s government says it has approved a plan to produce between 2,000 and 4,000 barrels a day of crude oil in an effort to exploit the country’s oil production potential. A statement from the president’s communications department said that infrastructure will be upgraded to allow trucks to ferry the oil to the country’s main port
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Ghana’s crude oil revenues will be 1.4 billion cedis this year, lower than a previous estimate of 2 billion cedis, the finance minister said in a budget review. Despite that, the deficit would remain unchanged from a previous estimate of 5.3 percent, Finance Minister Seth Terkper said. Revenues for 2015 are estimated at 1.5 bln
Nigeria’s government has launched a special fund worth US$100 million to take care of securing the credit that the oil industry of the country needs. Called a Nigerian Content Intervention Fund, the vehicle will be managed by the Nigerian Content Development and Monitoring Board and the Bank of Industry. Until now, Nigerian oil service companies
By Irene Ngabirano… On June 23, the United Kingdom (UK) voted to leave the European Union (EU) in a non-binding advisory referendum, which resulted in the resignation of UK Prime Minister David Cameron and is likely to trigger fresh elections later this year or in 2017. Despite pressure from some EU countries, it is unlikely
Brent crude oil prices rose on Monday, lifted by a plunge in the dollar that could spur demand just as attacks on Nigerian oil infrastructure tighten supplies, but signs of recovering U.S. output capped gains. Brent crude futures LCOc1 rose as high as $50.10 but retreated to be up 38 cents or 0.7 percent at
Damage to South Sudan’s oil fields after more than two years of civil war will hamper plans to boost output, Petroleum Minister Dak Duop Bischok said. The government is currently assessing the extent of repairs that need to be made to production facilities in the northern Unity and Upper Nile states, Bischok said Thursday in
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