Market News Page No. 479| Africa Business News | Afrotrade

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UAE Based Oil Firm Consolidates East African Presence with Acquisition of Essar Petroleum East Africa Ltd

Gulf Petrochem Group rename entity to Aspam Energy (Kenya) Ltd NAIROBI, Kenya, July 1, 2015/ -- Gulf Petrochem Group (today announces the official acquisition and name change of Essar Petroleum East Africa Ltd to ASPAM Energy (Kenya) Ltd. The deal will enhance the group’s integrated services and products for the downstream supply chain in the oil and gas sector in East Africa. Gulf Petrochem Group secured.... Read more »

Posted on : Thursday , 2nd July 2015

Tanzania hailed leader in FDI due to its natural gas reserves

The East African nation has registered an increase of 14.5 per cent in FDI, mainly due to the presence of large natural gas reserves, stated a United Nations report Africa has been earmarked as a popular investment destination, with a host of sectors such as manufacturing, transport, renewables and mining considered popular for foreign direct investments (FDI). However, a report presented by the United Nations Conference on Trade and.... Read more »

Posted on : Thursday , 2nd July 2015

TULLOW OIL, AFRICA OIL REPORT POSITIVE RESULTS FROM KENYA�S APPRAISAL DRILLING, WELL TESTING

In the latest update by Block 10BB and 13T joint venture partners Tullow Oil and Africa Oil appraisal drilling and Extended Well Tests (EWT) continue to produce positive results. The Amosing EWT which commenced in May testing five reservoir zones in the field across two wells, in one well the production was tested while pressure responses were measured in the other well. Production from all five zones was at a combined average.... Read more »

Posted on : Thursday , 2nd July 2015

Tanzania Gets USD 268 Million To Extend Lake Victoria Water Pipeline

On 19th June 2015, the Export-Import Bank of India (Exim) and the Ministry of Finance of Tanzania signed an agreement to extend additional line of credit (LOC) of USD 268 million to the Government of Tanzania, for financing the extension of Lake Victoria water pipeline to Tabora, Igunga, and Nzega. Lake-Victoria-Water-Pipeline-exim-tanzaniaMr. Yaduvendra Mathur, Chairman and Managing Director of Exim India and Ms. Dorothy Stanley Mwanyika,.... Read more »

Posted on : Thursday , 2nd July 2015

Africa: Platinum mining company to invest U.S $131 Million

Africa's largest platinum mining company, Zimplats, is building a $131 million base metal refinery at its Selous base, a senior official said Friday. Acting chief executive, Stanley Segula, told parliamentarians visiting the company that $20 million has so far been invested in the project which is expected to create significant new employment opportunities for Mashonaland West province. According to the senior officials, the.... Read more »

Posted on : Wednesday , 1st July 2015

Construction of Africa's $92m water projects completed

Egyptian government has completed the construction of $92 Million drinking water project across the country. The housing minister said they have completed the 83 drinking water and sanitation projects, along with 112 sanitation projects in various villages across the country. The minister in charge of Housing Mostafa Madbouly added that the Construction Authority for Potable Water and Wastewater which was awarded the contract to carry.... Read more »

Posted on : Wednesday , 1st July 2015

Maurel & Prom Gets Good Result from Tanzania Gas Well

Maurel & Prom has encountered positive results from its latest well at the Mnazi Bay gas field inTanzania. The MB-4 development well, drilled 800 m from the MB-2 and MB-3 wells at the Mnazi Bay gas field, has crossed Miocene gas reservoirs with net pay of 24 metres (Upper Mnazi Bay) and 43 metres (Lower Mnazi Bay) respectively, both ranked among the best of the five wells drilled at this field so far, the company.... Read more »

Posted on : Wednesday , 1st July 2015

Tanzania: No Fuel Shortage, Nation Assured

The government has allayed fears on possible fuel shortage while warning suppliers against any move to hoard the product. Defaulters risk indefinite ban and revocation of their licences to operate. The warning was relayed here by the Deputy Minister for Energy and Minerals, Mr Charles Mwijage, following an intervention by the Deputy Speaker of the National Assembly, Mr Job Ndugai, who had asked the ministry to respond to speculations that the.... Read more »

Posted on : Wednesday , 1st July 2015

Tanzania Gas Discoveries Help Attract Investors

Dar es Salaam — Tanzania's Foreign Direct Investment (FDI) has risen by 14.5%, thanks to gas discoveries in the country including Songo Songo (below) writes LEONARD MAGOMBA. According to newly launched World Investment Report 2015, the growth makes Tanzania, the leading FDI's destination in the East African Community (EAC). However, the report indicates that Global FDI inflows in 2014 fell by 16% to $1.2 trillion, mostly because of.... Read more »

Posted on : Wednesday , 1st July 2015

Tanzania: Cement Firm Trains 250 Block Makers

The Tanzania Portland Cement Company Limited (TPCC) conducted a training to 250 cement block makers from Dar es Salaam that will foster safety at work, quality of block produced and efficiency in production process. Speaking to invited participants during the training in Dar es Salaam, TPCC, Commercial Director, Simon Delens said that the seminar was focused on health and safety, quality and increase efficiency that will boost development of.... Read more »

Posted on : Tuesday , 30th June 2015

Tanzania Rural Power in Need of Private Cash

Dar es Salaam — The Rural Energy Agency (REA) has hinted that the availability of adequate fund and unwillingness of private sector to invest in off grid areas among major challenges towards improving access to electricity in rural communities writes EMMANUEL KISIMA. This was said by REA Solar Technology Specialist, Eng. Jones Olotu during the 2nd sub-Saharan Africa solar summit 2015 held in Dar es Salaam last week. He said the.... Read more »

Posted on : Tuesday , 30th June 2015

Tanzania: Industries on Energy Audit to Save Costs

Industries have embarked on energy audit to minimise electricity costs that account for between 15 and 40 per cent of total production overheads. The audit is a pre-requisite for industries to implement energy efficiency, but financing the exercise remains a big challenge. The Confederation of Tanzania Industry (CTI) backed the initiative through French aid agency--Sunref. CTI's Director of Policy and Advocacy, Mr Hussein Kamote, said.... Read more »

Posted on : Tuesday , 30th June 2015

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