Market News

  • ARA Petroleum to develop Tanzania’s largest onshore natural gas discovery

    Posted on :Monday , 1st July 2024

    ARA Petroleum announced that Tanzania's Ministry of Energy has granted a 25-year Development Licence for the Ntorya natural gas discovery area to the Ruvuma joint venture. The licence was awarded to ARA Petroleum Tanzania Limited (APT), a subsidiary of ARA Petroleum and operator of the Ruvuma JV.

    This licence enables APT to advance Tanzania’s largest onshore natural gas. . .

  • Kenya and Uganda forge ahead with pipeline extension to boost connectivity between borders

    Posted on :Monday , 3rd June 2024

    Uganda imports an impressive average of 2.5 billion litres of petroleum annually, valued at about $2 billion, with KPC handling at least 90 per cent of the volumes. Kenya is actively engaging with Uganda in a fresh endeavor to sustain and potentially enhance petroleum exports despite the heightened competition from neighboring Tanzania. Recently, Tanzania's interest in expanding transit markets. . .

  • East African Economy Set to Grow by 5.1% in 2020, Led by Kenya, Rwanda, and Tanzania

    Posted on :Wednesday , 1st May 2024

    A recent report by audit, tax, and consulting firm RSM (Eastern Africa) Consulting Ltd, titled "The East African Economic Outlook 2024," unveiled at the EAC CEO Roundtable in Nairobi, forecasts the region to maintain its lead in Africa's growth, with a projected expansion of 5.7 percent in 2025. Kenya is expected to sustain robust real GDP growth at 5.2 percent, with inflation easing to around . . .

  • Kenya grants UNOC permission to import petroleum products through Mombasa

    Posted on :Friday , 5th April 2024

    Kenya has granted Uganda's state oil firm, UNOC (Uganda National Oil Company), permission to import petroleum products through the port of Mombasa, as confirmed by Uganda's energy ministry on Thursday. This decision comes as Uganda seeks alternative routes for importing petroleum, having historically relied on affiliated Kenyan firms for decades. Solomon Muyita, spokesperson for Uganda's minist. . .

  • WTS Energy planning to explore opportunities in Rwanda and Uganda

    Posted on :Wednesday , 28th February 2024

    Exciting strides are underway in the Oil & Gas sector, heralding a new era of prosperity for East Africa. WTS Energy, a leading global energy staffing provider headquartered in the Netherlands, views the East Africa Crude Oil Pipeline (EACOP) as a strategic gateway for its expansion into Uganda. Upon completion, this pipeline will facilitate the transportation of approximately 60,000 barrel. . .


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