Market News
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Kenya's Ambition To Become East Africa's Petroleum Hub Is Becoming Shape.
Posted on :Tuesday , 22nd August 2023
Kenya is supporting its benefit over Tanzania in its offered to give oil based commodities in the East African area, with the country's bureau this week endorsing the Kenya Pipeline Organization's (KPC) obtaining of resources from the bankrupt Kenya Oil Treatment facilities Ltd (KPRL).
KPC is assuming control over KPRL's 45 stockpiling tanks, which have a limit of 484 million. . .
Indonesian Minister Says Pertamina Plans on Establishing Oil Refinery in Kenya
Posted on :Monday , 31st July 2023
Coordinating Minister for Maritime and Investment Affairs Luhut Binsar Pandjaitan revealed that state-owned oil and gas company Pertamina plans to expand its business to East Africa by establishing an oil refinery in Kenya.
"Pertamina will enter Kenya after being asked to establish an oil refinery there. We also see an opportunity to bring their crude oil to Indonesia," Pandj. . .
Indian Firms in Bid to Buy 50% Stake in Kenya's $3.4bln Oil Project
Posted on :Monday , 14th August 2023
Indian oil firms ONGC Videsh and Oil India Ltd partner for the possible acquisition of a 50 % stake in London-based Tullow Oil's $3.4 billion oilfield project in Kenya, Press Trust of India news agency reported, citing informed sources.
However, the Indian consortium faces competition from Chinese energy giant Sinopec, which has entered the competition following delays by Ind. . .
Borouge Enters Into Agreement to Expand Footprint in East Africa
Posted on :Tuesday , 25th April 2023
Borouge Plc, a petrochemical company that provides innovative and differentiated polyolefin solutions, has entered into a Distribution Agreement with one of the biggest polyolefin distributors in East Africa, Somochem.
The agreement builds on a long-standing partnership between Borouge and Somochem and aims to increase Borouge’s footprint and presence in Ea. . .
$130.5 Million LPG Facility Starts Construction in Mombasa, Kenya
Posted on :Thursday , 23rd March 2023
Construction has begun on a $130.5 million re-filling plant for liquefied petroleum gas (LPG) and 30,000-ton storage facility at the Dongo Kundu Special Economic Zone in Kenya.
Construction started on 24th February by Tanzania-based LPG distributor, Taifa Gas, and will service both Tanzania and Kenya in a bid to make clean cooking gas more affordable and accessible for both E. . .
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