Market News
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ERHC Connects with Local Communities in Kenya
Posted on :Friday , 14th November 2014
Residents of Turkana County want the oil and water deposits discovered in the region to benefit them as the first beneficiaries.Speaking during the second stakeholders forum between the locals and an American oil company, ERHC Energy, in Lokichogio town, Governor Josephat Nanok said Turkana people had suffered for many years du. . .
Potential Mega Merger in the Oilfield Services Sector
Posted on :Friday , 14th November 2014
There is a potential merger in the works that if goes forward, would be the most significant combination in the history of oil services and drilling. Two of the oilfield service industry’s firms, Halliburton and Baker Hughes, are in preliminary talks on a potential merger. A Baker Hughes statement said the discussions “may or may not lead to any transaction.” The Wall Street J. . .
Engen s Boosts Zimbabwe Downstream Ops
Posted on :Friday , 14th November 2014
Engen has invested over $4 million during the past two years to bolster its retail network in Zimbabwe and build on its strong presence in the commercial, industrial and mining sectors in the country. The company more than doubled its retail network from 20 operating sites to the current 55 over the past two years.
The company’s investment included building long-term. . .Tullow Oil, Africa Oil receive 1 year extension in block 10BB, 13T
Posted on :Thursday , 13th November 2014
The Kenyan government has approved extension of the exploration license in blocks 10BB and 13T by one year following delays in acquisition of 3D seismic.
Following the approval exploration periods for block 10BB and 13T will expire in July 2017 and September 2017, respectively.This year the partners in both blocks have acquired . . .Tullow Oil cuts on offshore exploration to focus on East Africa acreage as crude oil price drop
Posted on :Wednesday , 12th November 2014
Following the drop in global crude oil prices Tullow Oil says I will be reducing on exploration cost as well as focus on high margin oil and its major basin-opening potential.
“In light of current oil and gas sector challenges including the commodity price environment, we are reviewing our capital expenditure and our cost base to ensure that Tullow is we. . .Please Select an Option
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