Market News
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Kenya, Uganda set to position E. Africa as the next oil frontier
Posted on :Saturday , 1st October 2016
Kenya and Uganda are set to position East Africa as the next oil development frontier, Bloomberg Intelligence has said.
The note based the findings on the discovery of several onshore deposits. They include the billion-barrel potential at Uganda’s Lake Albert and Kenya’s South Lokichar Basin.“While early-stage,. . .Tehran, Nairobi Mull Energy Cooperation
Posted on :Monday , 26th September 2016
Oil Minister Bijan Namdar Zanganeh said the implementation of the accord between Iran and major powers, formally called the Joint Comprehensive Plan of Action, has paved the way for promoting Tehran-Nairobi relations that are of high importance to Iran.
Zanganeh made the statement after meeting Kenyan National Assembly Speaker Justin Muturi in Tehran on Sunday, Shan. . .Local Content Bill to give Kenyans more oil cash
Posted on :Friday , 23rd September 2016
Oil and gas companies will now be required to state how local communities will benefit from the proceeds before they are licenced if a proposed bill becomes law.
The bill by Baringo Senator Gideon Moi seeks to ensure the companies do not take off with everything after drilling oil and tapping gas. The Local Content Bill 2016 will also put an end to conflicts t. . .Vivo Energy opens largest diesel storage tank in Kenya at Shimanzi
Posted on :Thursday , 22nd September 2016
Vivo Energy Kenya has opened a 23 million litre diesel storage tank at the company’s Mombasa terminal at Shimanzi in what is the largest diesel storage capacity in the country by one oil marketer.
The company also opened a 5 million litre petrol storage tank.The opening of these tanks increases the company’s diesel s. . .Government to invest Ksh. 3.2 Billion on Oil infrastructure, KTN Prime 21st September 2016
Posted on :Thursday , 22nd September 2016
The ministry of infrastructure is set to spend 3.2 billion shillings in constructing requisite infrastructure that will pave the way for Kenya to start exporting oil come June 2017. According to roads principal secretary Eng. John Mosonik, plans are underway to rehabilitate the Eldoret Lokichar road in preparation for the harvesting of early oil in Turkana.
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