Market News

  • Kenya Poised To Be Petroleum Giant

    Posted on :Thursday , 12th January 2023

    New Energy CS Davis Chirchir has said Kenya is poised to be the region's next petroleum giant following heavy investments. 

    Chirchir said construction of the Sh40 billion New Kipevu Oil Terminal (KOT 2) is a game changer for the country, especially the energy sector.


    He said the government is considering investments in storage and evacuation to match the . . .

  • World Largest Oil Firm Aramco Enters Kenya through Buyout

    Posted on :Thursday , 12th January 2023

    The Competition Authority of Kenya (CAK) gave Aramco Overseas Company, the investment arm of Saudi Aramco, the nod to acquire the Kenyan operations of VGP Holdings as part of the global deal worth $2.65 billion.

    The acquisition looks set to trigger shifts in Kenya’s fuel lubricants market that is currently dominated by multinational firms such as Vivo â€. . .

  • Kenya Setting Up Standards For Biogas Packaging

    Posted on :Tuesday , 11th October 2022

    Kenya is setting up standards that will pave the way for the commercialisation of biogas, a move that will offer cheap energy for consumers in the wake of the high cost of LPG and generate revenue for producers, according to Business Daily Africa.


    Kenya Bureau of Standards (KBS) said it is working on the norms for the packaging of biogas, which is the only thing that has been. . .

  • Ruto to Construct the Tanzania-Kenya Gas Pipeline

    Posted on :Tuesday , 11th October 2022

    Kenya intends to pursue the construction of a gas pipeline linking Tanzania's main city, Dar es Salaam, to the coastal city of Mombasa and on to the capital Nairobi, in a bid to reduce energy costs, Kenya's president William Ruto has said.


    The 600km pipeline has been estimated by local reports to cost around US$1.1bn (£990m).


    The President spok. . .

  • Africa Oil Sees Progress Looming in Nigeria, Kenya

    Posted on :Tuesday , 27th September 2022

    Africa Oil expects a number of developments in the next month or so, including the spud of the Gazania well, an extension to its licence in Nigeria and the signing of a Kenya deal.


    The company’s famously bullish CEO and president Keith Hill said the Island Innovator rig was 10 days out from arriving on location in South Africa.


    Block 2B, . . .


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