Market News Page No. 546| Africa Business News | Afrotrade

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Nigeria: Experts Call for Gas Revolution to Diversify Economy

Changing the paradigm of continuous gas flaring which has ranked Nigeria as the second largest Gas flaring nation after Russia and Iraq to a country that earns more revenue from gas that surpasses income generated from oil production, was part of the resolution of experts and participants across Nigeria ,Africa and Europe who attended the 32nd edition of National Association of Petroleum Explorationists (NAPE ) held in Lagos over the week.... Read more »

Posted on : Wednesday , 19th November 2014

Toyota Tshusho named oil pipeline lead consultant

Toyota Tshusho Engineering Corporation will design and carry out a feasibility study for the construction of a crude pipeline between Hoima to the Kenyan coast after the company won the tender. The company that signed the contract last week in Kampala submitted a design that would see the crude oil pipeline follow the Hoima-Lokichar-Lamu route in a project estimated to cost $4 billion. Toyota Tshusho beat other companies.... Read more »

Posted on : Wednesday , 19th November 2014

Elevator Manufacturer Kone acquires Marryat dealers in East Africa

Elevator manufacturer Kone has acquired Marryat & Scott (Kenya) and Marryats East Africa, in a deal that would see the company grow its grip in Kenya, Tanzania, Rwanda and Uganda. Kone’s executive vice-president for West and South Europe and Africa, Pierre Liautaud, has said that there are new housing and infrastructure projects that have emerged in Africa due to the region’s rapid urbanization and which are creating business.... Read more »

Posted on : Tuesday , 18th November 2014

Afrox opens air separation unit in Africa

The investment is part of a three-year programme by Afrox and its parent company Linde Group and directed at boosting customer service levels and supporting the company’s growth strategy in South Africa. Afrox said that the new plant was built to meet global standards. Afrox managing director Brett Kimber said the newly-commissioned air separation unit will produce high purity oxygen, nitrogen and argon to serve the merchant and.... Read more »

Posted on : Tuesday , 18th November 2014

Main One expands into manufacturing sector in Africa

The company said its expansion into the manufacturing industry was driven by the sector’s growing demand for reliable connectivity solutions, increased need for virtual private networks between company branches, as well as increased security challenges faced by conglomerates. Main One showcased its broadband solutions at seminars attended by IT managers in Agbara Industrial Estate, Ogun State, and Ikeja and Apapa business.... Read more »

Posted on : Tuesday , 18th November 2014

KenGen to set up an industrial park at Olkaria-Kenya for investors

Kenya Electric Generating Company (KenGen) is planning a new industrial park at Olkaria area to offer commercial facilities to interested companies. Interested companies will have opportunity to build plants in the park, and get subsidies on power. The planned industrial park will be constructed on a 1, 200 acres of land already identified at the site in Nakuru by KenGen. It was expected that the Export Processing Zones Authority would.... Read more »

Posted on : Tuesday , 18th November 2014

Ghana National Petroleum Corporation (GNPC) is seeking US$1bn to become an independent operator, according to a report

Reuters reported that GNPC is in talks with Dutch commodities trader Trafigura and banks for a US$700mn five-year loan at 4.43 per cent to fund its oil and gas projects. GNPC is state-owned and a major player in Ghana’s oil exports, but said its need to boost capital cannot be met entirely through public sources. “GNPC has to be prudent and build up capital for its growth. This is normal commercial practice. No serious.... Read more »

Posted on : Tuesday , 18th November 2014

Nigeria has Africa's largest gas reserves, states OPEC report

The Organisation of Petroleum Exporting Countries (OPEC), in its latest World Oil Outlook 2014, has stated that Nigeria has retained the top position in Africa in terms of holding the largest reserves of gas on the continent Nigeria, ranked ninth globally, follows Russia, Iran and Qatar on the list of countries having the largest reserves of gas. Algeria is ranked 10th and Egypt 17th. In addition, OPEC’s report has added that an.... Read more »

Posted on : Tuesday , 18th November 2014

Eco Atlantic completes 3D survey in Namibian basin

Eco Atlantic Oil & Gas Ltd. has completed its 3D seismic survey across 1,097 sq km on the Cooper block located in the Walvis Basin, offshore Namibia The survey, which began on 16 October 2014, was executed by PGS Geophysical Ltd. using high resolution GeoStreamer technology, and PGS Geophysical has already commenced processing the data, revealed officials from Eco Atlantic. Colin Kinley, CEO of Eco Atlantic, said, “We are.... Read more »

Posted on : Tuesday , 18th November 2014

Halliburton offers $35 billion for Baker Hughes

Energy industry products and services provider Halliburton and leading supplier of oilfield services, products, technology and systems Baker Hughes have announced a definitive agreement under which Halliburton will acquire all the outstanding shares of Baker Hughes in a stock and cash transaction at an equity value of $34.6 billion and enterprise value of $38.0 billion. Upon the completion of the transaction, Baker Hughes.... Read more »

Posted on : Tuesday , 18th November 2014

Nigeria: Fresh Oil Spill in Bayelsa Community

Knowing where you are going is the first step to getting there' - Ken Blanchard To many Nigerians, Diezani Alison Madueke's name may not have been found in the list of Nigeria's high-ranking political gladiators before assuming her present position as the nation's Minister of Petroleum Resources about three years ago. As has been observed in transformational rebirth of many nations, there comes a time when a reformer emerges.... Read more »

Posted on : Monday , 17th November 2014

Govt signs Shs12 trillion contract for oil pipeline feasibility study

The government has signed a contract with Toyota Tsusho, a Japanese company to carry out a feasibility study that will see the crude oil pipeline construction start The government has signed a contract with Toyota Tsusho, a Japanese company to carry out a feasibility study that will see the crude oil pipeline construction start. Energy minister Irene Muloni signed the $4.5b (Shs12.3 trillion) contract at the Ministry of Energy Sector.... Read more »

Posted on : Monday , 17th November 2014

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