Market News

 TransGlobe Energy has announced the discovery of a Lower Nukhul oil discovery at NWG 3, a gas/condensate test at North Dabaa 2, and has been awarded a new concession in Egypt’s Western DesertThe oilwell at Lower Nakhul was drilled to a total depth of 1,633 metres and encountered 12.8 met . . .

 Ormat Technologies, a US power firm has been selected among three other companies to build the 100MWgeothermal power plant in Menengai, Kenya, set to begin in December this year. This will be among other projects which will see Kenya’s energy capacity rise to 5,000MW from 1,533 MW. The . . .

 Electricity generation in the country has hit 4,044 megawatts (MW) on account of improved gas supply to  generation stations and the rise in the water level at the various hydro power stations typical of the rainy season. The generation level, according to sources in the power sector, is . . .

 THE government will spend Sh11 billion on rural electrification programmes this year. The plan aims to connect more than 1 million households, primary schools, markets and other public facilities to the power grid. Rural Electrification Authority chairman Simon Gicharu said the government ha . . .

 Two local firms, Gulf Energy Limited and Centum Investment Company Limited, have successfully won the bid for construction of the Lamu coal plant. The power plant is going to be constructed at a cost of US$2bn in Mombasa, Kenya. US$500m to be used in construction will be provided by equity fun . . .