Market News
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Kenya s finance bill offers a mixed picture for oil and gas investors – Africa Oil
Posted on :Saturday , 27th September 2014
According to the Canadian explorer the abolishment of the previous withholding tax regime is a positive step that will allow farm out transactions to continue in a tax effective manner.
“Such transactions are heavily relied upon by the oil and gas industry in order to attract companies with the appropriate technical and financial capabilities to projects. . .ERHC enters second phase of PSC in Kenya s Block 11A
Posted on :Thursday , 25th September 2014
Houston-based independent oil and gas company ERHC Energy has announced it is entering its second phase in Block 11A after completing the parties’ obligations under the first phase of the exploration program.
This follows the completion of the 2D seismic program last month which will shape up the basis for continuation of exploration under the second pha. . .
Africa Oilfield Logistics to build logistics hub in Kenya
Posted on :Wednesday , 24th September 2014
Africa Oilfield Logistics Limited has announced that it will build a logistics hub in northern Kenya
The company's main subsidiary, Ardan Risk & Support Services, has entered into a 15-year lease over a plot of land to build the logistics hub, consisting of warehousing, fuel distribution and cold storage. The project will be developed into the first of several planned logist. . .
Egypt to buy majority oil product imports from UAE
Posted on :Wednesday , 24th September 2014
Egyptian General Petroleum Corporation (EGPC) will buy 65 per cent of its oil product imports from the UAE’s ADNOC for a year
According to a statement form the Oil Ministry of Egypt, the agreement between EGPC and ADNOC covers gasoline, diesel, heavy fuel and LPG. However, the agreement value was not disclosed.The statement also added that the deal was approve. . .
Kenya oil resources to almost double with more drilling
Posted on :Friday , 19th September 2014
Kenya expects its estimate of oil resources to almost double to 1 Bbbl as well-drilling climbs and the government forges ahead with plans to build an export pipeline, an energy ministry official said.
Tullow Oil Plc. and its partner Africa Oil Corp. have discovered an estimated 600 MMbbl of oil in the South Lokichar basin since announcing the country’s first crude find in . . .Please Select an Option
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