Market News

  • Tullow Sets Sights on Renewables to Power Delayed Kenya Oil Project

    Posted on :Monday , 16th November 2020

    London-listed Tullow Oil is considering plans to provide back-up power from offshore wind and geothermal assets in Kenya to support its challenging South Lokichar oil project in the East African region.

    The Anglo-Irish operator, along with its partners Total and Africa Crude, is revisiting the original South Lokichar exploration scheme to minimise costs and intends to send a fresh develo. . .

  • African Countries Agree to Strengthen Cooperation on Geothermal Production

    Posted on :Monday , 16th November 2020

    More than 500 experts, governments, civil society, academia and private sector representatives from Africa and other regions have agreed on the agenda for regional cooperation and accelerated geothermal growth in Africa, as concluded by the Eighth African Rift Geothermal Conference (ARGEO C8) on 6 November.

    Participants acknowledged the need for capacity development for geothermal practi. . .

  • South Sudanese Oil Firm Introduces $10m Investments in Kenya

    Posted on :Friday , 23rd October 2020

    South Sudanese oil marketing giant Trinity Energy Ltd is set to inject $10 million worth of new investments in its Kenyan operations and also plans to build a $500 million crude oil refinery in South Sudan to aid the region with refined petroleum products.

    The firm, which controls close to 40% of the South Sudanese oil market, is studying 40,000 barrels per day (bpd) modular refinery at . . .

  • Africa Is No Doubt Final Frontier For Oil

    Posted on :Monday , 28th September 2020

    The pandemic has been very devastating for the oil industry globally. Explorers suspended drilling, producers, idled wells, Big Oil majors put up assets for sale. But the world continues to need oil, albeit lower amounts of it than a year ago, and it will continue to need it.  

    Exploration is not over. It is especially not dead in Africa—a hot spot in oil and gas . . .

  • Kenyans to Wait More for Oil Billions Until 2025

    Posted on :Friday , 11th September 2020

    Kenyans will have to wait until after 2025 for petrodollars from Turkana oil fields to start trickling in after the government lengthened the exploration timeline for Tullow.

    The British oil explorer said it had allowed another 15 months for exploration phase of the Turkana oil project, essentially pushing ahead production timelines and extending the long-awaited final investment decisio. . .

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