N e w s

Gas Project Law Adopted by Mozambique Sets Benchmark, IMF Says

 A law adopted by Mozambique this week to provide long-term fiscal and legal stability for gas projects off its northern coast will be a benchmark for such agreements in other countries, said the International Monetary Fund.   The law applies to two projects in the Rovuma Basin, near the border with Tanzania, operated by Anadarko Petroleum Corp. (APC) and Eni SpA. (ENI) It sets terms covering 30 years, while allowing for the tax the.... Read more »

Posted on : Tuesday , 30th December 2014

Eland Oil & Gas - Crude Oil Sale Update

 Eland (AIM: ELA), an oil & gas production, development and exploration company operating in West Africa with a principal focus on Nigeria, is pleased to announce that Elcrest Exploration and Production Nigeria Ltd ("Elcrest"), Eland's joint venture company, has completed the loading and sale of a further 31,500 bbls gross of crude for an average price of $94.93 per barrel. This will be the Group's final loading and sale for.... Read more »

Posted on : Tuesday , 30th December 2014

East Africa Sees Growth Accelerating on Investments

 Growth in Kenya, East Africa’s biggest economy, is expected to accelerate over the next three years as the government increases spending on roads, railways and power plants, the National Treasury said.   The economy may expand 6.1 percent in the fiscal year that ends on June 30, 2015, Geoffrey Mwau, economic affairs director at the Treasury, said today in a presentation in the capital, Nairobi. The rate is forecast to increase.... Read more »

Posted on : Tuesday , 30th December 2014

Growth in the African Manufacturing Industry

 This sector is mainly agro based at the moment and plays an important role in adding value to agricultural output by providing forward and backward linkages with agricultural sector. However, there is a shift to export oriented manufacturing as the main thrust of Kenya's industrial policy since the country aims to raise the share of products in the regional market from 7% to 15 %..... Read more »

Posted on : Tuesday , 30th December 2014

Keroche pumps Sh4 billion into factory expansion and brand diversity

 Keroche Breweries has invested Sh4 billion to expand its Naivasha plant. Company chief executive Tabitha Karanja said the brewer will also be increasing its range of products. “Keroche is embracing advanced brewing technology to ensure Kenyans and the region get sufficient supply of high quality bear,” she said. Mrs Karanja spoke in Nakuru yesterday during a marketing tour. She said Keroche is putting up a modern.... Read more »

Posted on : Tuesday , 30th December 2014

Swala Energy Receives Funding for Exploration in its East African Acreage

Swala Energy Limited has announced that Swala has received US $750,000 under the terms of the Convertible Note Facility pursuant to the Company’s ASX Announcement in mid December.   Under the terms of the Facility 750,000 Convertible Notes will be issued subsequent funding of up to US $750,000 per tranche is available at Swala’s request and may be drawn down every 40 calendar days under the Facility up to.... Read more »

Posted on : Tuesday , 30th December 2014

East African Oil & Gas Market 2014-2024: Upstream & Midstream

 According to officials at Eco (Atlantic) Oil and Gas, the agreement would be deemed an “all-share” deal, which would save costs and strengthen itReport Details East Africa is fast becoming one of the world's most interesting oil and gas hotspots. For many years the area was neglected by the world's oil and gas industry, and even in Africa it was overshadowed by the rapid development in West Africa and the established markets.... Read more »

Posted on : Monday , 29th December 2014

Eco (Atlantic) Oil & Gas to acquire Pan African Oil in Namibia

 s position as a dominant license holder offshore Namibia. Pan African Oil, an Africa-focused oil and gas explorer, operates two licenses in offshore Namibia, which covers around 13,000 sq km. The company has already completed the first term work commitments for both licenses, and has found a potentially new prospective geological fairway. The Canadian explorer Eco (Atlantic) Oil and Gas owns and operates four licenses in Namibia, three.... Read more »

Posted on : Monday , 29th December 2014

Kenya to construct bridge across Likoni channel

Principal Secretary, Infrastructure Development, Eng John Mosonik said to provide a more reliable link to South Coast, plans have commenced for the construction of the Likoni bridge to replace the ferry.   The Likoni Ferry, serviced by the Kenya Ferry Services (KFS) has come under constant criticism over inefficiency particularly from tourism players who have had to grapple with long queues due to delays and ageing equipment.   Eng.... Read more »

Posted on : Monday , 29th December 2014

Rehabilitation of 600km Lesseru - Napadal road to boost trade with S Sudan

The road  starts from Lesseru and traverses Kitale, Marich Pass, Lodwar and Lokichogio, ending at Nadapal border between Kenya and South Sudan. It  covers about 605km.   The poor condition of the road which is considered a major link road along the Northern Corridor prompted the Kenya National Highways Authority to procure the services of three consultants to conduct studies before the start of majorrehabilitation.... Read more »

Posted on : Monday , 29th December 2014

LAFARGE TO MERGE AFRICAN UNITS IN $1.35 BLN DEAL

 French cement maker Lafarge will combine its South Africa business with publicly traded Nigerian unit Lafarge Wapco, its country CEO said. Guillaume Roux said the deal, worth 1.35 billion dollars, will see the Lafarge group get 200 million dollars in cash and 1.4 billion new shares in Lafarge Wapco to effect the merger. The new company, Lafarge Africa Plc, will have a market capitalisation of more than three billion dollars and will be.... Read more »

Posted on : Monday , 29th December 2014

Ghana devises plan to curb power crisis

 GHANA is making frantic efforts to finance a plan aimed at paying for gas supplied to the Volta River Authority (VRA) and the power producers in the event of a cash fall, local daily newspaper reported. This is part of plans to avert rising power crisis. According to the publication, Ghana National Petroleum Corporation (GNPC) is working on a fall-back financing plan widely believed to boost the production of gas in the country. GNPC.... Read more »

Posted on : Monday , 29th December 2014



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