Market News | Oil & Gas Tanzania 2024

Market News

  • ARA Petroleum to develop Tanzania’s largest onshore natural gas discovery

    Posted on :Monday , 1st July 2024

    ARA Petroleum announced that Tanzania's Ministry of Energy has granted a 25-year Development Licence for the Ntorya natural gas discovery area to the Ruvuma joint venture. The licence was awarded to ARA Petroleum Tanzania Limited (APT), a subsidiary of ARA Petroleum and operator of the Ruvuma JV.

    This licence enables APT to advance Tanzania’s largest onshore natural gas. . .

  • Kenya and Uganda forge ahead with pipeline extension to boost connectivity between borders

    Posted on :Monday , 3rd June 2024

    Uganda imports an impressive average of 2.5 billion litres of petroleum annually, valued at about $2 billion, with KPC handling at least 90 per cent of the volumes. Kenya is actively engaging with Uganda in a fresh endeavor to sustain and potentially enhance petroleum exports despite the heightened competition from neighboring Tanzania. Recently, Tanzania's interest in expanding transit markets. . .

  • East African Economy Set to Grow by 5.1% in 2020, Led by Kenya, Rwanda, and Tanzania

    Posted on :Wednesday , 1st May 2024

    A recent report by audit, tax, and consulting firm RSM (Eastern Africa) Consulting Ltd, titled "The East African Economic Outlook 2024," unveiled at the EAC CEO Roundtable in Nairobi, forecasts the region to maintain its lead in Africa's growth, with a projected expansion of 5.7 percent in 2025. Kenya is expected to sustain robust real GDP growth at 5.2 percent, with inflation easing to around . . .

  • Tanzania Welcomes First Shipment of Pipes for the Cross-Border EACOP Project

    Posted on :Friday , 9th February 2024

    The East African Crude Oil Pipeline (EACOP) Project reached a major milestone on December 12, when the first batch of pipes for the cross-border pipeline landed in Dar es Salaam. The company and its shareholders, including SuperDoll, the local logistics partner, expressed their joy and excitement at the storage yard where the pipes were delivered.


    The communities hosting the . . .

  • Uganda Attracts Record-Breaking Foreign Investments in Oil and Gas Sector

    Posted on :Monday , 15th January 2024

    FDI inflows to Kenya, Tanzania and Uganda soared to $13.3 billion in 2022, creating many jobs and boosting Uganda's oil and gas sector. Kenya attracted $2 billion and created 7,819 jobs with a 117% surge in investment inflows in one year.  


    Tanzania recovers from pandemic with $1.3 billion FDI and 4,566 new jobs in 21 projects.


    The 20th annual study an. . .


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