Market News Page No. 486| Africa Business News | Afrotrade

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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

Tanzania: Construction of Four-Lane Regional Road Starts in Arusha

Arusha — Construction of the four-lane road linking Sakina section of Arusha City with the Tengeru Township in Meru has started, aimed at easing congestion along Arusha-Moshi highway. four-lane, two track motorway is part of the implementation of the proposed multinational Arusha-Holili highway which is to extend into Kenya and join the Taveta-Voi road project under the East African Community (EAC). Projects Manager of the Tanzania.... Read more »

Posted on : Tuesday , 30th June 2015

East Africa: Demand for Cement in EA Remains Strong

DEMAND for cement in the East African Region is anticipated to remain strong in the medium term, supported by the resurgence in infrastructure and housing sectors. Also, apart from the associated energy costs and the availability of cheap imports from some Asian countries, demand for cement in East Africa has continued to rise. The growing demand for cement is expected to boost investments in new cement production in line with the.... Read more »

Posted on : Tuesday , 30th June 2015

Africa: Cement newcomer Sephaku looking to expand trade market after stellar performance

A “stellar” performance by cementation newcomer Sephaku Holdings’ Métier Mixed Concrete division has swung the group to a full-year net profit of R47.16-million for the 12 months ended March 31, positioning it to expand its market share in what has become a highly competitive domestic cementation market. The group achieved full-year revenue of R775.4-million and earnings before interest, taxes, depreciation and.... Read more »

Posted on : Tuesday , 30th June 2015

Tanzanian mine receives �strong interest� from developers

Australian explorer IMX Resources has received “strong interest” from several ore developers in its Ntaka Hill Nickel Project located in southeast Tanzania. nickelmine-Marshman-WCThe Ntaka Hill Nickel Project hosts a measured and indicated resource of 20.3Mt at 0.58 per cent nickel and 0.13 per cent copper for 117,880 tonnes of contained nickel. The Ntaka Hill Nickel Project, in the Nachingwea Property, has been receiving.... Read more »

Posted on : Tuesday , 30th June 2015

AFRICA ENERGY WITHDRAWS FROM PUNTLAND, SOMALIA BLOCKS

Africa Energy formerly Horn Petroleum Corp has announced that it has provided notice to the Puntland State of Somalia advising of its intention to withdraw from the January 2007 productions sharing agreements in respect of the Nugaal Block and the Dharoor Block, each made among the Company, the Government of Puntland and Range Resources, effective immediately. In its notice to the Puntland Petroleum and Minerals Agency, the.... Read more »

Posted on : Tuesday , 30th June 2015

Anadarko negotiating LNG supply deal with Jera from $23bn Mozambique project

American oil and gas firm Anadarko Petroleum is in talks with Japan-based Jera for long-term supply of liquefied natural gas (LNG) from its Mozambique export scheme. Jera, a joint venture set up by Tepco and Chubu Electric Power in April, aims to turn into the cheapest LNG buyer across East Asia. Anadarko's recent finds in Area 1 of Rovuma Basin in the African country will feed the initial ten million tonnes per annum (mtpa) LNG export.... Read more »

Posted on : Monday , 29th June 2015

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