Market News

  • Sh2.5 billion loan has been approved for the construction of a gas hub in Mombasa, Kenya.

    Posted on :Tuesday , 15th June 2021

    Mombasa Gas Terminal Limited (MGT) has received a Sh2.5 billion loan from the World Bank's private lending arm to build a liquefied petroleum gas terminal in Mombasa's port.

    The International Finance Corporation announced the money on June 2 after the company received regulatory approval from the national and county governments to start building.

    "The second phase will complete th. . .

  • Kenya And Tanzania Have Resurrected A $1.1 Billion Gas Export Pipeline Scheme

    Posted on :Tuesday , 18th May 2021

    Kenya and Tanzania have signed a deal in Nairobi that could resurrect plans to build a new pipeline to transport gas from Dar es Salaam to Mombasa.

    Tanzanian President Samia Suluhu Hassan and her Kenyan counterpart Uhuru Kenyatta signed a tentative agreement covering the transport of gas from Tanzania for use in power generation and, possibly, cooking and heating, during their state visi. . .

  • Nakuru Plans To Manufacture Vehicle Spare Parts

    Posted on :Friday , 2nd April 2021

    Within the devolved unit's Special Economic Zones and Industrial Parks, the Nakuru County Government is wooing vehicle manufacturing companies to invest in local production of spare parts.

    Governor Lee Kinyanjui claimed that as the national government intensifies its campaign to promote local vehicle assembly, the establishment of plants at the county level to locally produce spare parts. . .

  • Kenya Plans to Spend $4.5 Billion in the Commercialization of Crude Oil

    Posted on :Friday , 2nd April 2021

    According to H.E. John Munyes, Cabinet Secretary for the Ministry of Petroleum and Mining, Kenya is seeking KSh500 billion ($4.55 billion) in investment to construct a pipeline, central processing and storage facilities from Lokichar to the coast, as well as upgrade refineries in Lamu and Mombasa.

    The emerging oil producer currently transports its crude from Turkana to the coast, prevent. . .

  • Africa May Play a Central Role in India's Oil Diversification - Dharmendra Pradhan

    Posted on :Tuesday , 30th March 2021

    African countries could play a key role in India's efforts to diversify its oil and gas sources, according to the country's oil minister on Wednesday, as the country seeks to reduce its dependence on the Middle East.

    After OPEC+ agreed earlier this month to largely maintain production cuts in April, India, the world's third largest oil importer, has asked state refiners to accelerate the. . .

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