Uganda National Oil Company has held talks with Kenya National Oil Company and Kenya Pipeline Company on how the two countries can benefit from oil and gas discoveries. In the talk session hosted by the National Oil Corporation of Kenya (NOC) , the companies shared experiences and ways of maximizing the benefits that come with
Oil and Development: Can Oil Revenues Transform the Poor Economies of Africa’s New and Old Producers?
Critics point out that ordinary people have not benefited from oil and gas exploitation in many African states. Billions of dollars in revenue have had little positive impact on the lives of most people in countries like Angola and Nigeria. Local content policies have been expanding across Africa and are currently being drafted in Uganda, Tanzania,
With the Road Option, Kenya expects Revenue from its oil by June 2017
Reports from Kenya indicate that the nation will reap its inaugural oil proceeds by mid-2017 despite the underlying challenge of routing to the sea port. Kenya’s Deputy Chief of Staff Nzioka Waita told local media in Nairobi last week that crude will be delivered to the port by via roads and railway as the nation
Analysis: Will Kenya be a Rule-Maker or rule-taker in the ‘uncertain’ Crude oil Business?
By Hez Gikang’a The big economic and financial news of 2016 is the complete rout of crude oil benchmark prices after prices hit an all-time decade low of US$30 per barrel Tuesday January 12th; markedly different circumstances and a far cry from the exuberance exuded by the Kenyan government, markets, pundits & oil companies in
Kenya government approves Africa oil—Mearsk farmout
The government of Kenya has approved the recently announced farmout between giants Africa Oil and Danish giant Maersk. The two firms entered a deal to acquire 50 percent stake in three of the Africa Oil’s onshore exploration licences in Kenya and a further two in Ethiopia. Speaking in relation the approval, Africa Oil’s President and Chief Executive Officer,
Japan’s Toyota Tsusho wins contract to design Uganda-Kenya pipeline
Japan’s Toyota Tsusho has won a contract to design an oil export pipeline from Uganda to Kenya’s coast, a Kenyan official says. According to Joseph Njoroge, the Kenya Energy Ministry’s principal secretary, Toyota Tsusho, the company awarded the contract for the feasibility study and preliminary engineering design must submit their report within the next five
Kenyan government to close East Africa’s only refinery before end of year
East Africa is on the verge of losing its only oil refinery, the Kenya Petroleum Refinery Ltd which faces eminent closure after the Kenyan government has considered plans to modernize it as untenable. The Kenya Energy Ministry says modernizing East Africa’s only crude oil processing facility is currently costing the economy Sh5 billion a