Market News

  • Cyprus and Egypt Talk Gas Export

    Posted on :Friday , 28th November 2014

     Talks between Cyprus and Egypt on the possibility of exporting gas from Cyprus to Egypt are accelerating. Egypt, once an exporter of the resources, has had to divert production to meet domestic demands and is now exploring options to help meet its ever growing demand.

    While Cyprus has gas, discovered in late-2011, it does not have the infrastructure in place that Egypt does.
  • Kenyans should be the winners in oil contracts

    Posted on :Thursday , 27th November 2014

     hen Kenya struck oil in Turkana and Wajir counties a few years ago, majority of Kenyans were excited at the prospect of petrol dollars. Finally, the hitherto dry and poverty-stricken counties were on the cusp of a breakthrough and in the process, Kenya would join the league of oil-rich countries. Oil, as a source of energy, is one of the most sought-after resources in the world. However, . . .

  • Japan\'s Toyota Tsusho to design Uganda-Kenya crude pipeline

    Posted on :Thursday , 27th November 2014

     

     
    Japan's Toyota Tsusho has won a contract to design an oil export pipeline from Uganda to Kenya's coast, a Kenyan official said on Wednesday, as the countries seek to start crude production.
     
    Oil discoveries in Uganda and Kenya and gas deposits found off Tanzania and Mozambique have turned east Africa into a frontier for hydrocarb. . .

  • Swala Energy to seek alternative funding for drilling in East Africa

    Posted on :Thursday , 27th November 2014

     

     
    Board members of Australian explorer Swala Energy have said the company will be seeking alternative funding to finance its drilling obligations ahead of its planned campaign in 2015 after a Share Purchase Plan which closed 17th November 2014.
     
    The Share Purchase Plan was withdrawn after Swala’s board observed that it was no. . .

  • Russia s Lukoil to invest in Nigerian project with Chevron

    Posted on :Wednesday , 26th November 2014

     

     
    Russia’s second-largest oil company, privately controlled Lukoil, said on Friday it planned to invest in Nigeria with U.S. oil major Chevron Corporation , part of its push to seek opportunities away from Russia’s state-dominated oil sector.
     
    “We have decided to enter a joint block with Chevron in a project in Ni. . .

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