Market News

  • Tullow initiates a probe for Kenya Oil Investors

    Posted on :Monday , 25th March 2019

    Tullow, a British oil exploration company has commenced an exploration in Kenya for small scaled crude petroleum exports. The first shipment is expected in the next three months.

     

    Unnamed potential investors of the Turkana commodity has shown interest in the stocks.The initial market reactions have proven to be positive.

     

    About 600 barrels are being t. . .

  • French oil firm Total along with Canadian Natural Resources Ltd announced discovery of a sizable amount of gas offshore South Africa

    Posted on :Thursday , 7th March 2019

    Gas discovery in the offshore Outeniqua Basin of South Africa has opened new hope of the consolidation of new mineral wealth in the country dependent on gold and diamond minerals.


    French major Total and its partners, Qatar Petroleum, Canadian Natural Resources, and Main Street, have declared discovery of a sizable amount of gas offshore South Africa.


    Total declar. . .

  • Swala Oil & Gas (Tanzania) plc received an initial investment of US$30 million from Energy Tanzania Limited (ETL)

    Posted on :Wednesday , 9th January 2019

    Energy Tanzania Limited (ETL) is owned by Dr. Reginald Mengi, the well-known Tanzanian entrepreneur and philanthropist. It has been announced by Swala Oil & Gas (Tanzania) plc that they have entered into an ultimate agreement for an initial investment of US$30 from Energy Tanzania Limited. 

    New Kenya Upstream Outlook Shows Increased Activity By New Players in 2019

    Posted on :Friday , 4th January 2019

    The just newly released Kenya Upstream Outlook for the year 2019 shows that most of the new seismic and drilling activity will be by new explorers with the Lamu basin just like in 2018 witnessing most of the drilling.

    According to a review on work programmes by the various licensed explorers in Kenya OilNews Kenya estimates that the Lamu basin could see up to five wells drilled b. . .

  • Investment and Infrastructure development in EA OIL & GAS

    Posted on :Saturday , 24th November 2018

    The Head of East Africa oil & gas sector at Standard Bank, Mr. Maina Kigundu, said that "Foreign exchange burden of importing and distributing the refined oil and gas products will maintain balance of payment challenges while liberating much needed foreign exchange for more strategic human development."

    He also mentioned that there is an increase in foreign exchange that i. . .

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