Market News

  • Rich Lamu Oil Prospects Fuel Kenya's Economic Plans Dreams

    Posted on :Thursday , 17th March 2022

    Kenya is just weeks away from announcing the discovery of new oil resources in the Lamu basin, bigger than what was found a decade ago in Turkana, in what could be a turning point for the country’s dreams of reaping petrodollars.


    Italian oil exploration company Eni — in partnership with France-based oil and gas company TotalEnergies and Q. . .

  • Kenya to Double Oil Handling Capacity with New Kipevu Terminal

    Posted on :Friday , 21st January 2022

    Kenya will double capacity of handling transit petroleum products starting this month from the current 35,000 tonnes as the Sh40 billion new Kipevu Oil Terminal in Mombasa is complete.


    President Uhuru Kenyatta is scheduled to inspect the facility accompanied by Chinese State Councilor and minister of Foreign Affairs Wang Yi and to conduct a dry run test.


    Th. . .

  • Chinese-Built Oil Terminal at Kenyan Mombasa Port to Be Complete in July

    Posted on :Friday , 21st January 2022

    The Chinese-built oil terminal at Kenya's Mombasa port is expected to be operational in July this year, Kenyan President Uhuru Kenyatta said on 6th January 2022.


    The construction of the 770-meter long offshore jetty, currently at 96% completion, was wholly funded by the Kenya Ports Authority and implemented by China Communications Construction Co., the presidential office sai. . .

  • Kipevu Oil Terminal Project Timeline and all You Need to Know

    Posted on :Friday , 7th January 2022

    Kipevu Oil Terminal (KOT) Project is a modern terminal being developed by Kenya Ports Authority in Mombasa, Coast, Kenya. The project's contractors include China Road and Bridge Corporation (EPC) and CCCC Fourth Harbor Engineering Co Ltd. The scheme's scope include 12.3 million cubic metres dredging work, the hydraulic wharf, the submarine and onshore oil pipeline processing and installation. T. . .

  • Kenya's New Sh40bn Oil Terminal Nears Completion

    Posted on :Wednesday , 8th December 2021

    Kenya will quadruple its capacity to handle transit petroleum products to Uganda, Rwanda, and Burundi when the new Kipevu Oil Terminal in Mombasa is completed in January 2022, up from 35,000 tonnes now.

    The new terminal, which cost $385 million, can handle up to four vessels at once, whereas the old terminal could only handle one.

    The port is projected to lower the cost of petrole. . .


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