Market News Page No. 570| Africa Business News | Afrotrade

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TDPC to lay gas pipelines in Tanzanian city

Tanzania Petroleum Development Corporation (TDPC) has plans of laying gas pipelines along main roads in Dar es Salaam for the distribution of natural gas in the city Malik Munisi, public relations officer of TDPC, said that a joint venture between TDPC and private entities would enable the development of pipelines along the city’s main roads to nearby houses. This project is based on a pilot assignment undertaken at Mikochemi.... Read more »

Posted on : Thursday , 28th August 2014

UK oil firms keen to expand in East Africa

Based on a survey conducted by the Bank of Scotland, UK oil and gas companies are keen on expanding international operations with East Africa emerging as a prime area The survey was conducted across 100 UK-based oil and gas firms and the report stated that international income will amount to 44 per cent of the annual turnover of these firms. Of the 100 companies surveyed, 64 cited overseas expansion as their top priority. East.... Read more »

Posted on : Thursday , 28th August 2014

AFRICA COULD LEAD ENERGY STORAGE REVOLUTION

Africa has the potential to be a leader in the energy storage space, says Basil Read Energy director, Ian Curry. “We have to go for this distributed power generation solution, [while] accommodating storage. Storage is a technology and an industry that is coming into maturity and Africa has the opportunity to lead in that space because we’re starting from a relatively blank page.” There are many different views on the.... Read more »

Posted on : Thursday , 28th August 2014

Investment in Africa's Oil, Gas to Increase Through 2016

The Managing Director of baker Hughes Nigeria, Mr. Ayo Shote has predicted that investment in Africa's oil and gas business would increase beyond 2016. ‎Speaking at the company's Techno Day conference and Exhibition held recently in Lagos, Shote explained that these investments will continue to come into Africa because of huge potentials in Africa's oil and gas business. He identified key focus of this growth to include West.... Read more »

Posted on : Thursday , 28th August 2014

Kenya:Business News Kenya on track to boost geothermal energy generation

Kenya has invited bids for construction of two new geothermal plants as part of the country's plan to boost electricity production by 5000MW in three years. The new plants, with a capacity of 60MW, will be completed by the end of 2014 and is part of several projects designed to tap into Kenya 10,000 MW geothermal power potential, according to Oxford Business Group's most recent economic update on energy. According to a.... Read more »

Posted on : Thursday , 28th August 2014

Nairobi: Dar es Salaam set to join Africa's Super 10 cities

Rapid economic growth, coupled with discovery of large deposits of oil and gas, are likely to see both Nairobi and Dar es Salaam join the top 10 "super cities" of Africa by 2030, according to a new report. The report by United Kingdom-based international firm PricewaterhouseCoopers (PWC) also predicts that Dar es Salaam will become a bigger city than London by 2030. The London-based professional services network.... Read more »

Posted on : Thursday , 28th August 2014

Nigeria: Investment in Africa's Oil, Gas to Increase Through 2016, Says Baker Hughes

Ejiofor Alike The Managing Director of baker Hughes Nigeria, Mr. Ayo Shote has predicted that investment in Africa's oil and gas business would increase beyond 2016. ‎Speaking at the company's Techno Day conference and Exhibition held recently in Lagos, Shote explained that these investments will continue to come into Africa because of huge potentials in Africa's oil and gas business. He identified key focus of this.... Read more »

Posted on : Thursday , 28th August 2014

East African Explorers Seek Third �Partner For Kenya Oil Fields Development

East African explorers, Africa Oil and its partner Tullow Oil, have told Reuters they could take on a third partner to help develop oil discoveries in northern Kenya where they discovered an estimated 600 million barrel in Block 13 T and Block 10 BB in South Lokichar Basin. “We will likely bring on a partner to help develop Lokichar Basin reserves but no timetable has been set,” Africa Oil’s chief executive officer Keith.... Read more »

Posted on : Wednesday , 27th August 2014

EAST AFRICAN OIL & GAS DISCOVERIES STIR GLOBAL EXPLORER INTEREST

Gas and oil discoveries in Tanzania, Uganda and Kenya has led to East Africa receiving its share of attention from global oil companies. “Oil discoveries in Uganda Tanzania and Kenya have also added to the excitement in the sector as new players look to enter these markets, including some of the largest independent and international oil companies, “ Harley, president of DHL Energy Sector noted. He added that, while Angola and.... Read more »

Posted on : Wednesday , 27th August 2014

East Africa Oil Boom

East Africa is the new oil and gas frontier. Recent discoveries of commercially viable deposits in the last few years in Tanzania, Kenya, Mozambique, and Uganda among others have sparked excitement and equal concern in the region. The potential of oil and gas exports have currently prompted an economic boom that could last for the next few decades, or at least until the tap runs dry. But the talk of prosperity is softened by the typical.... Read more »

Posted on : Wednesday , 27th August 2014

Nigeria: Govt Borrows N300 Billion for Electricity Transmission

The federal government has borrowed a total of $1.9bn (N300 billion), as part of electricity transmission expansion capacity. The funding came from various sources as part of the target to meet the 20,000mw transmission capacity in the year 2020, records indicated. Daily Trust gathered that so far $4 billion (N647.6bn) was generated by government out of the $16 billion (N2.6 trillion) target to achieve the 20,000.... Read more »

Posted on : Wednesday , 27th August 2014

Kenya: East Africa Spectre Seeks Clearance for LPG Factory

A company linked to the Odinga family plans to set up an LPG filling and oil depot at Nairobi's Embakasi area as demand for cooking gas rises. Demand for the liquefied petroleum gas in the country is expected to increase steadily and several firms in the oil and gas industry have recently embarked on building inland LPG filling depots to capitalise on the projected boom. In a notice published Friday in the Kenya Gazette,.... Read more »

Posted on : Wednesday , 27th August 2014

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