Market News
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Nigeria: Foreign Oil and Gas Investors Are Watching Nigeria, Says Lawhead
Posted on :Tuesday , 20th October 2015
The Managing Director of Oil and Gas Council, a global business network for senior oil and gas executives, Mr. Drake Lawhead has stated that foreign investors in the oil and gas industry are currently watching Nigeria, stressing that it is undeniable that Nigeria's foreign direct investment has been hampered by the perception or fact of corruption and theft.
Speakin. . .Regional Power Play in Tussle Over New Route of Uganda Oil Pipeline
Posted on :Tuesday , 20th October 2015
The race to build Uganda's oil pipeline has been thrown open, realigning the regional power play after Tanzania inked an agreement with Uganda over a possible southern route early this week.
Tanzania argues that its route will offer a cheaper option in transporting Uganda's crude oil.Kenya has now taken a tough stance to guard its int. . .East Africa: Total, Tullow Differ On Choice of Oil Route
Posted on :Tuesday , 20th October 2015
Oil companies Total and Tullow agree with the Ugandan government on low tariffs for the transportation of the crude oil through a pipeline, but they differ over the choice of route.
Tullow Oil has no objection to the northern route (Hoima-Lokichar-Lamu Port) as proposed by the Kenya government, but Total has raised concerns over the route, while China National Offsh. . .South Africa: Shell Gets Nod to Drill Wells in SA\'s Orange Basin
Posted on :Tuesday , 20th October 2015
The Department of Environmental Affairs has issued an environmental authorisation for Shell South Africa Upstream B V's proposed exploration drilling in the Orange Basin Deep Water Licence Area, off South Africa's west coast.
This gives Shell permission to drill up to two offshore exploration wells in the northern portion of the licence area, which covers about 37 2. . .East Africa: Kenya to Reintroduce Vat On All Oil Products
Posted on :Monday , 19th October 2015
Fuel prices in Kenya are expected to increase sharply next year as the government plans to increase taxes on the commodity to raise an additional Ksh16 billion ($152.62 million).
The government will impose 16 per cent value added tax (VAT) on oil products to shore up its domestic revenues, which have come under pressure in the wake of burgeoning spending, corruption. . .Please Select an Option
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