Market News

  • Kenya\'s First Oil Export Expected in October 2022

    Posted on :Monday , 17th August 2015

    Kenya's push to start oil production by 2017 will be delayed by at least five years going by the detailed design and construction timeline for the proposed crude oil pipeline connecting Uganda and local oil fields to Lamu.
    The Toyota Tsusho design released yesterday shows that the flow of the first oil is expected in October 2022 at the earliest. This will come after the commissio. . .

  • DPR Begins Implementation of Gas Transportation Code

    Posted on :Monday , 17th August 2015

    The Department of Petroleum Resources (DPR) has stated that it had commenced the implementation of Nigeria Gas Transportation Network Code (NGTNC). This is coming as the Nigeria Gas Company (NGC) has hinted that gas supply to power plants would increase to 800 million standard cubit feet by the end of 2016.

    The code ‎ NGTNC is a contractual framework between transporter (or n. . .

  • Africa Oil 2015 Second Quarter Financial and Operating Results

    Posted on :Saturday , 15th August 2015

    Africa Oil Corp. is pleased to announce its financial and operating results for the three and six months ended June 30, 2015.During the second quarter of 2015, the Company focused its efforts on appraisal in the South Lokichar Basin, Extended Well Tests (EWTs) in the Amosing and Ngamia fields, and reservoir and engineering studies. This focus for 2015 has the following objectives; confirming re. . .

  • Global Witness Cautions On Four Shortlisted Firms In Uganda’s First Licensing Round

    Posted on :Wednesday , 12th August 2015

     Transparency body Global Witness while lauding the first licensing round as an step forward for transparency in the country has cautioned on four shortlisted companies which it says have a questionable environmental and social track record.

     
    The four namely Nigeria’s Oranto Petroleum, Russian Africa Global Resources consortium where it questions two compa. . .

  • UPDATE 1-Kenya, Uganda settle on crude pipeline route

    Posted on :Tuesday , 11th August 2015

     Kenya and Uganda have reached a final decision on the route for a crude pipeline linking their newly found oilfields to the Kenyan coast, an important step for oil firms to make a final investment decision, the countries' presidents said on Monday.

     
    Oil executives have previously said they cannot make progress with their final investment decision on developing . . .

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