Market News Page No. 452| Africa Business News | Afrotrade

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Private capital will end Africa power cuts by 2025, says survey

Power cuts in 15 Sub-Saharan African countries could become an “exception” rather than a norm in 10 years time, with private capital expected to play an increasingly bigger role, according to a survey by PricewaterhouseCoopers (PwC) released yesterday. The survey found that 96 per cent of the officials interviewed from Nigeria, South Africa, Zambia, Kenya, Mozambique, Botswana, Lesotho, Namibia, Uganda, Swaziland,.... Read more »

Posted on : Monday , 17th August 2015

Zarara Oil And Gas To Drill Well In Block L4 In Q2 2016

Zarara Oil and Gas plans to drill a well in Block L4 in 2016 after postponing its earlier planned date in 2015 according to a company representative who spoke to OilNews Kenya. With the postponement the company will be banking on the hope that the Ministry of Energy will be extending their license that expires this year. The delay could have arisen from the difficulty in raising money in the wake of the global oil prices.... Read more »

Posted on : Monday , 17th August 2015

Nigerian refinery to restart operations by month-end

Nigeria’s Kaduna Refining and Petrochemical Company (KRPC) has announced that its refinery would start operations by the end of August. Alhaji Saidu Aliyu Mohammed, managing director of KRPC, made the announcement while delivering an address at the opening ceremony of the Annual Energy Correspondents Workshop in Kano. Mohammed said, “Replacement of the weak segments of the pipeline is ongoing. The repair work is expected to be.... Read more »

Posted on : Monday , 17th August 2015

East Africa: Uhuru and Museveni Strike Deal On Route for Oil Pipeline

Kenya and neighbouring Uganda have agreed on the route of a planned US$4.5bn oil pipeline, the link that will transport crude from companies including Tullow Oil. The pipeline will pass through the Lokichar Basin in northern Kenya, Manoah Esipisu, spokesperson for Kenyan President Uhuru Kenyatta. The countries had also discussed building the link through southern Kenya and the capital Nairobi. The agreed design will be the cheapest to.... Read more »

Posted on : Monday , 17th August 2015

Two More Nigeria LNG Cargoes Bound for Spain

Two tankers carrying LNG from the Nigeria Liquefied Natural Gas (NLNG) are due to berth at Spanish regasification terminals today, according to ship tracking data. The 148,300 cu m LNG Imo vessel, according to PLATT, is due at Spain's 11.8 Bcm/year Cartagena terminal, while the LNG Ogun, with a capacity of 149,600 cu m, is expected at the seven Bcm/year Bilbao terminal. The Imo was last seen passing Gibraltar while the Ogun is currently sailing.... Read more »

Posted on : Monday , 17th August 2015

Kenya's First Oil Export Expected in October 2022

Kenya's push to start oil production by 2017 will be delayed by at least five years going by the detailed design and construction timeline for the proposed crude oil pipeline connecting Uganda and local oil fields to Lamu. The Toyota Tsusho design released yesterday shows that the flow of the first oil is expected in October 2022 at the earliest. This will come after the commissioning of the oil pipeline in the last quarter of.... Read more »

Posted on : Monday , 17th August 2015

DPR Begins Implementation of Gas Transportation Code

The Department of Petroleum Resources (DPR) has stated that it had commenced the implementation of Nigeria Gas Transportation Network Code (NGTNC). This is coming as the Nigeria Gas Company (NGC) has hinted that gas supply to power plants would increase to 800 million standard cubit feet by the end of 2016. The code ‎ NGTNC is a contractual framework between transporter (or network operator) and network users (known as shippers) that.... Read more »

Posted on : Monday , 17th August 2015

Tata Motors owned JLR continues to bet big on Middle East and North Africa

Bruce Robertson, managing director for the MENA region for Jaguar Land Rover (JLR) said that the company will invest in Middle East and North Africa (MENA). "We are going to continue to grow and we remain firmly committed to the Middle East and North Africa.Our dealerships will rise from 43 to 60 and we expect to create employment for nearly 2,000 people in the next two-three years. We have a footprint within the region that.... Read more »

Posted on : Monday , 17th August 2015

Construction of maize milling plant in Kenya set to begin

Green Arava of Israel is set to construct a multi-million maize milling plant in Kenya at Galana-Kulalu irrigation project to ease in the flour processing once the first crop is harvested. The equipment which has already been bought from South Africa will have the ability to process and package the flour for sale immediately after leaving the farm. “The contractors have already procured the milling machine and we.... Read more »

Posted on : Monday , 17th August 2015

Nissan to announce production plans for Rosslyn plant by end - 2015

Nissan South Africa (SA) would make an announcement on the production of new models at its Rosslyn plant, near Pretoria, by the end of the year, said Nissan SA MD Mike Whitfield on Tuesday. Print Send to Friend 0 0 Speaking at a media dinner in Johannesburg, he noted that he expected the announcement “to be positive”. The Nissan SA plant currently produced the old NP300 Hardbody one-ton bakkie, as well as the NP200 half-ton.... Read more »

Posted on : Monday , 17th August 2015

Construction of Akiira geothermal plant in Kenya boosts Kenya Power

The construction of Akiira Geothermal plant in Kenya has boosted power supply in Kenya after the firm signed a 70MW power deal with Kenya Power that will boost the chances of attaining the 5,000MW goal set by the Kenyan Government. The 70megawatt power purchase agreement (PPA) between the two companies will last for 25 years and will see Kenya Power buy electricity from Akiira at Sh9.3 per unit (9.23 US cents), which is about half.... Read more »

Posted on : Monday , 17th August 2015

New-car price increases boosting SA used-car market

Around 174 000 used cars have been financed in South Africa in the first seven months of 2015, says Absa Vehicle and Asset Finance managing executive Wessel Steffens. Print Send to Friend 2 0 This is 5.35% lower than the number of used cars financed for the same period in 2014 (183 563 units), and 14.15% higher than the number of used cars financed for the first seven months of 2013 (152 203 units). “We measure the number of used.... Read more »

Posted on : Monday , 17th August 2015

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