Market News
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Rift Energy Hopeful Of Either Oil Or Gas Find In Kenya’s Block L19
Posted on :Wednesday , 22nd July 2015
Houston based Rift Energy says its preliminary resource reserve estimates for the top ten leads (including the four drill-ready prospects) says it is hopeful of encountering oil or gas when it drills its first well later this year.
The block which has already seen one well the Ria Kaluli 1 drilled in 1962 encountering oil shows before being plugged. . .
Kenya primed for cross-border trade
Posted on :Tuesday , 21st July 2015
Kenya’s economy has shown remarkable gains over the last five years, maintaining a robust growth rate. GDP growth stood at 5.4 percent in 2014, an improvement on the 5.1 percent recorded in 2013 and 4.6pc in 2012. The country’s annual GDP growth is projected to reach 7.0 percent by 2017 (6.7pc average CAGR 2014-2017).
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Oil Ministry: Eni Discovers Up To 15B Cubic Meters Of Gas In Egypt
Posted on :Tuesday , 21st July 2015
Italy's Eni has discovered gas reserves of up to 15 billion cubic metres in Egypt's Nile Delta region, with production set to start in two months, the Egyptian oil ministry said on Monday.
The discovery was made in Western Abu Madi, 120 km northeast of Alexandria, where Eni holds 75 percent of exploration rights through an Egyptian subsidiary, with Britain's BP holding a 25 perc. . .
Polarcus Commences Multi-Client Survey Offshore Northwest Africa
Posted on :Tuesday , 21st July 2015
Polarcus Limited announced Monday that it has commenced a new 3D broadband multi-client survey across the Mauritania-Senegal-Guinea-Bissau Basin (MSGB), offshore northwest Africa. The survey, which is supported by industry funding, will cover an area of 579 square miles offshore The Gambia and is expected to run for 50 days. Polarcus expects final data products to be available in 1Q 2016. Prefu. . .
Kenya Pipeline Corporation to construct US$ 343m oil pipeline
Posted on :Monday , 20th July 2015
Kenya Pipeline Corporation (KPC) is yet to construct a 450Km pipeline from Mombasa to Nairobi that will help them meet the rising demand for fuel in the market and complement the existing line and replace it ultimately.
The pipeline project by KPC has received funding worth US$ 343m from a consortium of local and international banks namely; Co-operative Bank, . . .Please Select an Option
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