By Stephen Kuria and Bernard Ayieko… The oil and gas market has been shaken and stirred by a raging storm. Some multinationals are actually abandoning the rigs, especially offshore ones. The US rig count has gone down by 31 to 760 on a month-by-month count. In some cases, exploration programmes have been put on the
Civil Society groups appeal to UNESCO, Uganda and DR Congo to Stop licensing Oil Exploration works in Virunga national Park
Over 60 environmental and tourism groups called on UNESCO and the governments of Uganda and the Democratic Republic of Congo to reach a deal to stop new oil drilling licences from being awarded in Virunga National Park and the surrounding area. The Civil Society organisations including; Global Witness, Greenpeace and the Zoological Society of London
Expert; How East Africa is paving way in the spotlight and changing Africa’s Oil map
By Thangapandian Srinivasalu Africa produced 8.2m b/d of crude last year – 76% came from Nigeria, Algeria, Egypt and Angola, according to PricewaterhouseCoopers’ (PWC) 2015 Africa Oil & Gas Review. But East Africa is elbowing its way under the spotlight and changing Africa’s energy map – a move easily justified by its wealth of oil
Iran Determined to raise Oil output as Sanctions are lifted
From Agencies… Iran is determined to raise its oil output as planned as soon as sanctions on its oil industry are lifted, Mehdi Asali, its representative to the OPEC producers’ group, said on Saturday. The international sanctions were scrapped as part of a landmark deal between major powers and Iran to curb Tehran’s nuclear program.
IMF predicts higher Economic growth rate for Mozambique from new Gas discoveries
By Agencies… The International Monetary Fund (IMF) predicts that Mozambique’s average growth rate during the first half of the next decade could reach the staggering figure of 24 per cent per annum. This optimism is based on the assumption that gas processing facilities in the Rovuma Basin, in the far north of the country, will
Opinion: The Fall of Oil prices is an alarm Government of Uganda should not Ignore.
By Adellah Agaba Oil production is set to begin in 2017 and this has generated anxiety and expectations which are already a threat to peace in the country, not only to humankind but to the environment, economy and ecology. The discovery of oil and gas in any country worldwide causes impeccable excitement because it is
Solo Oil Signs Gas Sharing Agreement with Tanzania
UK based Solo Oil announced that it has signed the fully termed Kiliwani North Gas Sales Agreement (GSA) with Tanzania which took effect on December 31, 2015. Solo Oil said that Aminex plc, its operator partner of the Kiliwani North Development Licence (KNDL) has now executed the KNDL GSA for the Kiliwani North-1 well (KN-1) with the
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
We reset Business plan in 2015 to deal with market challenges—Tullow Oil
Tullow Oil Plc says it was prompted to reset the business in order to deal with the effects of the uncertain market situations as it labored deliver on key operational goals in 2015. The observations were made by Tullow’s Chief Executive Aidan Heavy as published in the company’s operational activities and trading Statement for the
South Sudan seeks to renegotiate Crude Transportation Charge with Khartoum
South Sudan has asked immediate neighbor Khartoum to lift the lease of crude oil transportation facilities and cost due to danger posted by current market prices. South Sudanese Foreign minister, Barnaba Marial Benjamin made the appeal in an interview with Ashrooq television in which he noted that the country’s proceeds from oil had narrowed due