Market News Page No. 409| Africa Business News | Afrotrade

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Tanzania Starts Construction Works Of Power Interconnection Project With Kenya

The Tanzanian and Kenyan Governments have recently announced that construction works have started on the Kenya-Tanzania Power Interconnection project that aims at connecting the Eastern Africa Electricity Highway between Kenya and Ethiopia, with the Eastern Africa Power Pool compounded by countries of the Common Market for Eastern and Southern Africa (COMESA). The project, implemented by Kenya Electricity Transmission Company (KETRACO).... Read more »

Posted on : Tuesday , 3rd November 2015

Setraco's U.S.$150 Million Steel Pipe Mill Factory Inaugurated

The effort of the federal government towards making gas accessible and affordable to Nigerians through its National gas master plan received a boost on Thursday with the inauguration of a new ultra modern $150 million steel pipe mill by President Muhammadu Buhari. Buhari who was represented by the Secretary to the Government of the Federation (SGF), Babachir Lawal, said the company established by Setraco Construction Company (SCC).... Read more »

Posted on : Tuesday , 3rd November 2015

Pradhan Pushes For Better Hydrocarbon Ties With Africa

India, which imports nearly 18% of its crude oil requirement from African producers, is working towards further expanding ties with the energy-rich nations from Africa. Petroleum minister Dharmendra Pradhan stressed upon intensifying hydrocarbon cooperation with the African countries on upstream, midstream and downstream areas. At present, India imports about 33 million tonne (MT) crude oil from Africa. Indian PSU oil and gas companies have.... Read more »

Posted on : Tuesday , 3rd November 2015

Swala Oil Stays On Course In Midst of Price Falls in Tanzania

Tanzania – Swala Oil and Gas Tanzania will continue with its exploration programs across the country despite a drastic fall in global oil prices which has affected oil share prices globally including Tanzania. Speaking shortly after the Annual General Meeting a year since its listing on the Dar es Salaam Stock Exchange (DSE), Swala Chief Executive Officer, David Ridge told reporters that for the past twelve months oil has come down.... Read more »

Posted on : Tuesday , 3rd November 2015

Kenya Sustainin Gains to Keep Investors

It has recorded remarkable improvement in the world's ranking of best destinations for doing business. The latest edition of the Ease of Doing Business report published by the World Bank and released this week has listed Kenya in position 108, up from the previous 136, making it one of the three most improved countries in the world. Essentially, the jump is attributed to the Huduma Centres initiative, which has brought.... Read more »

Posted on : Tuesday , 3rd November 2015

Gas discovery in Egypt to boost energy export

A recent Gas discovery in Egypt is likely to put the country back to its former position where it used to export energy. This follows the discovery of huge Zohr natural gas field at the coastline of the country. Discovered by oil exploration company Eni, The move will see the country back into exporting liquefied natural gas (LNG), making the bright spot of demand it has created in an oversupplied global gas market short-lived. Once an.... Read more »

Posted on : Tuesday , 3rd November 2015

Coal Power plant in Africa to be constructed at a cost of US$3b

First Coal power plant in Egypt will be constructed at a cost of US$3b a move that will boost the country’s power sector. The move comes after the country signed a power plant construction deal with Siemens and scatec. According to officials in the Ministry of Electricity and Renewable Energy, a deal will be signed with a UAE company to help establish the first coal-operated power generating station in South Sinai in.... Read more »

Posted on : Tuesday , 3rd November 2015

First Coal Power plant in Africa rica to be constructed at a cost of US$3b

First Coal power plant in Egypt will be constructed at a cost of US$3b a move that will boost the country’s power sector. The move comes after the country signed a power plant construction deal with Siemens and scatec. According to officials in the Ministry of Electricity and Renewable Energy, a deal will be signed with a UAE company to help establish the first coal-operated power generating station in South Sinai in March.... Read more »

Posted on : Tuesday , 3rd November 2015

SGR Developer to Buy Sh330 Million Kenyan Steel

China Road and Bridge Corporation has said it will buy some Sh330 million worth of steel from Kenyan manufacturers for constructing the Standard Gauge Railway line. CRBC yesterday said it has already received bids for the supply of the steel from six manufacturers. The planned purchase of more than 5,000 tonnes of steel bars will be the first large scale purchase since construction of the Sh327 billion project commenced two two years ago. The.... Read more »

Posted on : Tuesday , 3rd November 2015

ARM Cement in Kenya to adopt new cement production technology

Cement manufacturer ARM Cement in Kenya has announced that it will launch a new technology in the production of cement, a move that will significantly reduce the cost of construction,the firm’s chief executive has announced. Speaking during a construction expo organised by Totally Concrete East Africa in collaboration with ARM Cement, chief executive Pradeep Paunrana said that the expensive technology in the production of cement.... Read more »

Posted on : Tuesday , 3rd November 2015

OCTANT ENERGY TO PURCHASE AFREN ASSETS IN TANZANIA AND KENYA

Canada-based oil and gas company Octant Energy Corp. has announced that it has entered into three agreements with subsidiary companies of cash strapped Afren PLC to acquire assets in the Republic of Kenya and the United Republic of Tanzania. Afren assets through its wholly owned subsidiary East Africa Exploration EAX include Kenya Block L17/L18, Kenya Block 1, and in Tanzania, the Tanga Block. The acquisition is important in the development.... Read more »

Posted on : Monday , 2nd November 2015

EU tasks government to tackle oil challenges

The European Union (EU) has requested Uganda to maximise opportunities and mitigate the negative impact of the oil and gas industry. A delegation of ambassadors from European countries visited Hoima District on Monday and Tuesday where they interfaced with oil company officials, Bunyoro Kitara Kingdom officials, local communities and district officials. “As EU, we are sorry for what happened to you. This is an example of what should.... Read more »

Posted on : Monday , 2nd November 2015

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