Market News | Oil & Gas Tanzania 2024

Market News

  • 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 . . .

  • Tanzania Welcomes First Shipment of Pipes for the Cross-Border EACOP Project

    Posted on :Friday , 9th February 2024

    The East African Crude Oil Pipeline (EACOP) Project reached a major milestone on December 12, when the first batch of pipes for the cross-border pipeline landed in Dar es Salaam. The company and its shareholders, including SuperDoll, the local logistics partner, expressed their joy and excitement at the storage yard where the pipes were delivered.

     

    The communities hosting the . . .

  • Uganda Attracts Record-Breaking Foreign Investments in Oil and Gas Sector

    Posted on :Monday , 15th January 2024

    FDI inflows to Kenya, Tanzania and Uganda soared to $13.3 billion in 2022, creating many jobs and boosting Uganda's oil and gas sector. Kenya attracted $2 billion and created 7,819 jobs with a 117% surge in investment inflows in one year.  

     

    Tanzania recovers from pandemic with $1.3 billion FDI and 4,566 new jobs in 21 projects.

     

    The 20th annual study an. . .

  • Manufacturers Switch to Gas, Boost Profits.

    Posted on :Monday , 23rd October 2023

    At an estimated 57 trillion cubic feet of gas reserves both in the Indian Ocean and offshore, Tanzania holds east Africa largest gas deposits, with an annual production of 110 billion cubic feet from three fields: Songo Songo, Mnazi Bay, and Kiliwani.

     

    Currently the country annual natural gas production stands at 68.02 billion cubic feet as compared to 59.96 billion cubic feet. . .

  • Tanzania Plans to Start the Fifth Round of Oil and Gas Licencing By June

    Posted on :Monday , 23rd October 2023

    Tanzania is hoping to officially launch the country's 5th oil and gas authorizing round by June and grant licenses to the victors by December of that very year, the chief general of its Petroleum Upstream Regulatory Authority (PURA) said on 5th October.

     

    "By the end of the first quarter of 2024 in the middle of between the first and second quarter we will launch the bidding ro. . .

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