Market News Page No. 562| Africa Business News | Afrotrade

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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

Tanzania: Coal Mine to Last Century Producing 300MW

Ngaka — THE government has been assured that Ngaka coal mine reserves can serve the country for more than 100 years producing 300KW of power and other commercial needs. Permanent Secretary in the Ministry of Energy and Mineral, Mr Eliakim Maswi, was told that the projection was drawn from the 423-million tonnes of coal resources the mine has. Tancoal Chief Operating Officer, Tarn Brereton said on Monday that there.... Read more »

Posted on : Wednesday , 27th August 2014

Kenya looks into establishing oil and gas industrial parks

As East Africa potential to become a major global oil and gas producer continues to attract international investors Kenya is already looking into establishing Oil and Gas Industrial Parks and Support Bases. According to a presentation by the National oil corporation’s managing director Sumayya Athmani during the stakeholder forum for oil and gas in June the plans that are an infancy stage include a supply base to support offshore.... Read more »

Posted on : Tuesday , 26th August 2014

Smaller firms will lead East Africa's oil and gas development

* East Africa's huge gas reserves a big lure; proximity to Asia attractive * Smaller explorers set to kick start development * Majors cut investments as margins squeezed Smaller oil explorers willing to take financial and operational risks will lead the development of East Africa's oil and gas industry as majors ditch riskier projects as margins fall, executives from several oil and gas firms said on.... Read more »

Posted on : Tuesday , 26th August 2014

Nine Energy Transmission Projects worth US$4bn Identified in Southern Africa

Nine energy transmission projects valued at above US$4bn have been identified in the Southern Africa region for promotion and marketing. These nine projects are in different stages of development according to the report released in the 34th Summit of SADC in Victoria Falls in Zimbabwe. The projects include the Flagship ZizaBona interconnector project which will be implemented by Zambia, Botswana, Zimbabwe and Namibia. There is also the Central.... Read more »

Posted on : Monday , 25th August 2014

Arab Contractors to implement $27m new road projects in Egypt

Arab Contractors Company (AC), a leading construction firm has been awarded a tender worth $27M to implement construction of 400km roads stretch in Egypt. In a statement sent to the media by Arab Contractors Company (AC) and signed by the board of Directors Eng. Mohsen Salah, the company is still negotiating to obtain an extra 200 km so that the targeted length of implementing the projects for the first phase will be up to 600 Km. The.... Read more »

Posted on : Monday , 25th August 2014

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