Market News

  • 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. . .

  • Djibouti is launching its National Geothermal Energy Engineering Company

    Posted on :Friday , 12th March 2021

    Djibouti has reached another milestone in its geothermal energy growth with the creation of its own national geothermal energy engineering business.

    Dubbed the Red Sea Drilling Company (RSDC), the new venture will not only work to expand the country's geothermal energy reserves, but will also have a training and capacity building programme to be established by a number of engineers and t. . .

  • Sub-Saharan Africa Could Green-Light 74 Mil Mt/Year LNG Capacity By 2030

    Posted on :Thursday , 18th February 2021

    Sub-Saharan Africa could approve an additional 74 million mt/year of LNG export capacity by 2030 if market conditions permit, the African Coalition for Trade and Investment in Natural Gas said in a report published on February 9.

    In addition to a total of 60 million mt/year of export capacity the region is expected to have by 2025, ACTING—launched on 3 February by the . . .

  • Eni Examines Mombasa Refinery Conversion

    Posted on :Tuesday , 12th January 2021

    Eni and Kenya have held discussions on several potential green plans in the East African country, including the conversion of the Mombasa refinery.

    Kenyan President Uhuru Kenyatta met with Italian CEO Claudio Descalzi last week. They talked about various green initiatives with the aim of providing communities with "efficient and sustainable" access to energy.

    The two sides discuss. . .

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