Market News Page No. 548| Africa Business News | Afrotrade

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Siemens to install and commission Egypt s Suez Thermal Power Plant

Siemens will now supply electrical components for the Suez Thermal Power Plant in Egypt. The latter was supplied by East Delta Electricity Production Company’s (EDEPC). Siemens has also been tasked with the installation and commissioning of equipment supplied by this company. The 650MW Suez Thermal Power Plant is located in Suez in Egypt, and will be commissioned in 2016. Part of the electrical components to be supplied by Siemens.... Read more »

Posted on : Monday , 20th October 2014

Construction of four Tanzania Ruaha mini-grids starts

Construction of first of the four mini-grids in Tanzania has begun from last week. This is according to the three companies undertaking the project. The Ruaha Power mini-grids will be constructed and installed in Kilosa District and Morogoro region in the country. The power from these mini-grids will be distributed and sold to clients at pre-payment terms. The four Malolo mini-grids will generate a total of 300kw. Each mini-grid will be.... Read more »

Posted on : Monday , 20th October 2014

Kenya oil deposits to hit 1billion barrels

Kenya’s recoverable oil reserves in the country’s tertiary rift basin is likely to exceed one billion barrels, the ministry of energy and petroleum said on Friday. Cabinet Secretary for Energy and Petroleum David Chirchir said the four recently discovered oil wells that were drilled by Tullow Kenya in the Lokichar sub-basin have raised the country’s recoverable oil reserves from 300 million barrels to 600.... Read more »

Posted on : Monday , 20th October 2014

Swala Energy to raise $4.4M to fund activities in Kenya and Tanzania

Swala Energy Limited has announced a Share Purchase Plan to raise up to A$5.0 million (US $4.4 million) to fund additional near-term work on the Company’s Tanzanian and Kenyan licences, as well as for business development and general administrative purposes. The c(SPP) is to be offered to all eligible shareholders who can subscribing for up to A$15,000 of new fully paid ordinary shares in Swala without incurring.... Read more »

Posted on : Monday , 20th October 2014

Ghana: Oil, Gas Insurance Placement for the Upstream Sector Launched

The Petroleum Commission (PC) and National Insurance Commission (NIC), with support from the industry stakeholders have developed a protocol for placing oil and gas insurance in Ghana. The protocol will open a window of opportunities for companies and brokers to actively participate and play lead roles in the oil and gas business in Ghana in line with the Petroleum Regulations 2013, (LI 2204) and the Insurance Act 2006, (Act.... Read more »

Posted on : Monday , 20th October 2014

Nigeria: Oil Spill - Indigenes Vow to Rebuild Ikara Community

SAPELE--The people of Ikara Community (near Ologbo), Ikpoba/Okha Local Government Area of Edo State, have vowed to jointly rebuild their community that has been ravaged by oil pollution following ruptures in the oil pipelines of the National Petroleum Development Company, NPDC, passing through the community. Chairman of the community, Mr. Lawrence Anirejuuoritse Wilbert, and the Secretary, Boyowa Eyejamuro, who spoke on behalf of.... Read more »

Posted on : Monday , 20th October 2014

Africa to have the largest independent power plant built in Ghana

Africa is to have the largest independent power plant built in the Sub-Saharan region, Ghana. Cenpower Generation Limited has already signed an agreement for construction of Kpone Independent Power Plant (KIPP) in the Tema industrial zone at a cost of US$900m to finance the project. The Combined Cycle Gas Turbine (CCGT) power plant is projected to start stream in 2017, adding about 10% of Ghana’s total installed capacity and.... Read more »

Posted on : Monday , 20th October 2014

Africa Biogas Partnership Programme to deliver 100,000 biogas plants in Africa

Five African countries will benefit from the Africa Biogas Partnership Programme (ABPP) that will see construction and installation of 100, 000 biogas plants by 2017. The program, a partnership between Hivos and SNV, will see about half a million populations in Ethiopia, Kenya, Uganda, Tanzania and Burkina Faso gain access to sustainable energy source. The first phase of the project was targeted at constructing 70, 000 biogas.... Read more »

Posted on : Monday , 20th October 2014

Tanzania To Pick Winners Of Oil, Gas Bids Before Year-End

Tanzania is in final stages of evaluating bids for oil and gas blocks it offered in its latest bidding round and plans to pick the winners before the end of this year, its upstream regulator said on Friday. East Africa is a new hotspot in hydrocarbon exploration after substantial deposits of crude oil were found in Uganda and major gas reserves were discovered in Tanzania and Mozambique. "The evaluation of bids is in the final stages and.... Read more »

Posted on : Saturday , 18th October 2014

East Africa neighbours close to picking consultant for oil export pipeline

Kenya, Uganda and Rwanda are in the final stages of deciding on a consultant to oversee building a pipeline to pump the region's new oil bonanza to the coast for export, a senior Kenyan energy ministry officials said on Thursday. In June, the three countries invited bids for a consultant to oversee a feasibility study and initial design for the construction of a 1,300-km (808-mile) oil pipeline to transport crude to the Kenyan.... Read more »

Posted on : Saturday , 18th October 2014

Maersk Drilling announced that Cabinda Gulf Oil Company Limited, a Chevron subsidiary in Angola,

Maersk Drilling announced Thursday that Cabinda Gulf Oil Company Limited, a Chevron subsidiary in Angola, has extended the current contract for the Maersk Deliverer (UDW semisub) expiring in June 2015 by two years. Mærsk Deliverer has since 2012 been working for Chevron and its partners on the Tombua Landana field offshore Angola. With the contract extension the rig will be on contract until June 2017. The estimated revenue potential.... Read more »

Posted on : Saturday , 18th October 2014

Nigeria: FG to Spend N1 Trillion on Petrol Subsidy in 2015

The Federal Government is to spend the sum of N971 billion to subsidise the supply of petrol to Nigerians in 2015, an indication that the administration has no plan to do away with subsidising petrol. In the same vein, the government plans to give out a total of N260 million to the Subsidy Reinvestment Programme, SURE-P, for intervention in various development agencies. This is contained in the 2015-2017 Medium.... Read more »

Posted on : Friday , 17th October 2014

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