Swala Oil Stays On Course In Midst of Price Falls in Tanzania

Tanzania – Swala Oil and Gas Tanzania will continue with its exploration programs across the country despite a drastic fall in global oil prices which has affected oil share prices globally including Tanzania. Speaking shortly after the Annual General Meeting a year since its listing on the Dar es Salaam Stock Exchange (DSE), Swala Chief Executive Officer, David Ridge told reporters that for the past twelve months oil has come down from $130 to $50 a barrel adding that the.... Read more »

Posted on : Tuesday , 3rd November 2015

Kenya Sustainin Gains to Keep Investors

 It has recorded remarkable improvement in the world's ranking of best destinations for doing business.   The latest edition of the Ease of Doing Business report published by the World Bank and released this week has listed Kenya in position 108, up from the previous 136, making it one of the three most improved countries in the world.   Essentially, the jump is attributed to the Huduma Centres initiative, which has brought together government services like.... Read more »

Posted on : Tuesday , 3rd November 2015

Gas discovery in Egypt to boost energy export

A recent Gas discovery in Egypt is likely to put the country back to its former position where it used to export energy. This follows the discovery of huge Zohr natural gas field at the coastline of the country. Discovered by oil exploration company Eni, The move will see the country back into exporting liquefied natural gas (LNG), making the bright spot of demand it has created in an oversupplied global gas market short-lived. Once an energy exporter, declining oil and gas.... Read more »

Posted on : Tuesday , 3rd November 2015

Coal Power plant in Africa to be constructed at a cost of US$3b

 First Coal power plant in Egypt will be constructed at a cost of US$3b a move that will boost the country’s  power sector. The move comes after the country signed a power plant construction deal with Siemens and scatec.   According to officials in the Ministry of Electricity and Renewable Energy, a deal will be signed with a UAE company to help establish the first coal-operated power generating station in South Sinai in March 2016.   The sources said.... Read more »

Posted on : Tuesday , 3rd November 2015

First Coal Power plant in Africa rica to be constructed at a cost of US$3b

  First Coal power plant in Egypt will be constructed at a cost of US$3b a move that will boost the country’s  power sector. The move comes after the country signed a power plant construction deal with Siemens and scatec. According to officials in the Ministry of Electricity and Renewable Energy, a deal will be signed with a UAE company to help establish the first coal-operated power generating station in South Sinai in March 2016. The sources said that the.... Read more »

Posted on : Tuesday , 3rd November 2015

SGR Developer to Buy Sh330 Million Kenyan Steel

China Road and Bridge Corporation has said it will buy some Sh330 million worth of steel from Kenyan manufacturers for constructing the Standard Gauge Railway line. CRBC yesterday said it has already received bids for the supply of the steel from six manufacturers. The planned purchase of more than 5,000 tonnes of steel bars will be the first large scale purchase since construction of the Sh327 billion project commenced two two years ago. The firm has previously procured steel from.... Read more »

Posted on : Tuesday , 3rd November 2015

ARM Cement in Kenya to adopt new cement production technology

Cement manufacturer ARM Cement in Kenya has announced that it will launch a new technology in the production of cement, a move that will significantly reduce the cost of  construction,the firm’s chief executive has announced. Speaking during a construction expo organised by Totally Concrete East Africa in collaboration with ARM Cement, chief executive Pradeep Paunrana said that the expensive technology in the production of cement was pushing up the final of houses. He.... Read more »

Posted on : Tuesday , 3rd November 2015

OCTANT ENERGY TO PURCHASE AFREN ASSETS IN TANZANIA AND KENYA

Canada-based oil and gas company Octant Energy Corp. has announced that it has entered into three agreements with subsidiary companies of cash strapped Afren PLC to acquire assets in the Republic of Kenya and the United Republic of Tanzania. Afren assets through its wholly owned subsidiary East Africa Exploration EAX include Kenya Block L17/L18, Kenya Block 1, and in Tanzania, the Tanga Block. The acquisition is important in the development of these assets for the region as it.... Read more »

Posted on : Monday , 2nd November 2015

EU tasks government to tackle oil challenges

The European Union (EU) has requested Uganda to maximise opportunities and mitigate the negative impact of the oil and gas industry. A delegation of ambassadors from European countries visited Hoima District on Monday and Tuesday where they interfaced with oil company officials, Bunyoro Kitara Kingdom officials, local communities and district officials. “As EU, we are sorry for what happened to you. This is an example of what should not have happened,” EU head of.... Read more »

Posted on : Monday , 2nd November 2015

Tanzania: Kagera is Potential Investors’ Destination

He noted that Ngara was a strategic point, which borders four countries — Rwanda, Burundi, Uganda and DRC – and, therefore, starting nickel mining would greatly help transform its economy. Addressing hundreds of Ngara residents recently, Mr Mongela noted that the presence of nickel puts the district at a vantage position due to the fact that when investment starts, a number of factories would also be put in place thus creating more employment opportunities. He affirmed.... Read more »

Posted on : Monday , 2nd November 2015

Ethiopia Exports Agricultural, Industrial Products to Senegal

Senegal has got into the list of Ethiopia's export destinations for flower and other semi-processed products, according to Hassen Abdulkadir, Ethiopian Ambassador to Senegal.   The Ambassador told ENA in Senegal that the export of cut flowers is in progress while activities are underway to expand export items. Next on the export list are leather and leather products as well as coffee.   Last year, Senegal received 60, 000 USD worth package of flowers, he.... Read more »

Posted on : Monday , 2nd November 2015

Egypt: First Coal-Operated Power Station to Be Established in March At U.S.$3 Billion

High-level sources in the Ministry of Electricity and Renewable Energy said that the ministry will sign with a UAE company a contract for establishing the first coal-operated power generating station in South Sinai next March.   The sources said that the ministry is currently finalizing the environmental studies and timetable of the project, where the Egyptian Electricity Holding Company will hold negotiations with the UAE company about the price of buying energy to be produced.... Read more »

Posted on : Monday , 2nd November 2015