Market News

  • See the $1.1 Billion Project That Will Transform the Markets of Kenya and Tanzania

    Posted on :Tuesday , 5th September 2023

    The sale to readapt the now-defunct state-owned Kenya Petroleum Refineries Ltd (KPRL) was finalized by Kenya, clearing the way for a gas pipeline to run from Dar es Salaam to Mombasa.

     

    The feasibility assessment has been finished, according to Davis Chirchir, the Kenyan Cabinet Secretary for Energy and Petroleum, and will soon be followed by the signing of a transnational agre. . .

  • Kenya's Ambition To Become East Africa's Petroleum Hub Is Becoming Shape.

    Posted on :Tuesday , 22nd August 2023

    Kenya is supporting its benefit over Tanzania in its offered to give oil based commodities in the East African area, with the country's bureau this week endorsing the Kenya Pipeline Organization's (KPC) obtaining of resources from the bankrupt Kenya Oil Treatment facilities Ltd (KPRL).

     

    KPC is assuming control over KPRL's 45 stockpiling tanks, which have a limit of 484 million. . .

  • Indonesian Minister Says Pertamina Plans on Establishing Oil Refinery in Kenya

    Posted on :Monday , 31st July 2023

    Coordinating Minister for Maritime and Investment Affairs Luhut Binsar Pandjaitan revealed that state-owned oil and gas company Pertamina plans to expand its business to East Africa by establishing an oil refinery in Kenya.

     

    "Pertamina will enter Kenya after being asked to establish an oil refinery there. We also see an opportunity to bring their crude oil to Indonesia," Pandj. . .

  • Indian Firms in Bid to Buy 50% Stake in Kenya's $3.4bln Oil Project

    Posted on :Monday , 14th August 2023

    Indian oil firms ONGC Videsh and Oil India Ltd partner for the possible acquisition of a 50 % stake in London-based Tullow Oil's $3.4 billion oilfield project in Kenya, Press Trust of India news agency reported, citing informed sources.

     

    However, the Indian consortium faces competition from Chinese energy giant Sinopec, which has entered the competition following delays by Ind. . .

  • Borouge Enters Into Agreement to Expand Footprint in East Africa

    Posted on :Tuesday , 25th April 2023

    Borouge Plc, a petrochemical company that provides innovative and differentiated polyolefin solutions, has entered into a Distribution Agreement with one of the biggest polyolefin distributors in East Africa, Somochem.

     

    The agreement builds on a long-standing partnership between Borouge and Somochem and aims to increase Borouge’s footprint and presence in Ea. . .

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