OilNews

Mozambique again extends block bidding round to June 2015

The government of Mozambique has for another time extended the block bidding round to June 30th 2015 from the earlier set date of April 30th according to the government. The bidding for fifteen new offshore and onshore areas that kicked off in October 2014 will see new blocks available in the gas rich northern Rovuma …

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Madagascar Oil Award Of The Development Mining Title For The Block 3104

Madagascar Oil  has confirmed the award of the Development Mining Title for the Block 3104 Tsimiroro Production Sharing Contract by the President of Madagascar, H.E.Hery Rajaonarimampianina, following a joint proposal by the Minister at the Presidency in charge of Mines and Petroleum and the General Manager of OMNIS (Office des Mines Nationales et des Industries Strategiques), …

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Kenyan, Ugandan Contractors Earn Over $100 million in payments from Tullow Oil – Report Highlights

2,240 suppliers working directly for Tullow in Uganda, Kenya and Ghana took home $255M of the total  $1.4 billion Spent with suppliers in 2014 according to the latest Corporate Responsibility report by Tullow Oil. Of this amount contractors in Kenya received $81.5 million in payments signifying a doubling in spending while those in Uganda earned …

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Maximum pump prices for Kenya’s major towns for the period 15th April to 14th May 2015

Source: Energy Regulatory Authority Taking into account the weighted average cost of imported refined petroleum products, the overall result is that the maximum allowed price of Super Petrol decreases by KES 0.11 per litre, that of Diesel increases by KES 1.28 per litre, while that of Kerosene increases by KES 1.46 per litre compared to …

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ONGC Videsh and Rovuma Area-1 block partners to invest $6B in Mozambique

India’s oil minister Dharmendra Pradhan on return from a trip to Mozambique has announced that Oil India Ltd (OIL), its overseas subsidiary of Oil and Natural Gas Corp (ONGC) and Bharat Petroleum Corp Ltd (BCPL) will invest $6 billion to develop their Mozambique acreage over the next 48 months. The block that has recoverable gas …

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Sub-Sahara Africa’s growth to slow amid oil and other commodities price drop – World Bank

Sub-Saharan Africa’s growth will slow in 2015 to 4.0 percent from 4.5 percent in 2014, according to World Bank projections released today. This downturn largely reflects the fall in the prices of oil and other commodities, notes Africa’s Pulse, a twice-yearly World Bank Group analysis of the issues shaping Africa’s economic prospects released today at …

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4th Oil & Gas Africa – Int’l Trade Exhibition set for Nairobi in a fortnight

The 4th Oil & Gas Africa  Intenational Trade Exhibition that hopes to attract leading oil, gas and petroleum companies from around the world will be held 27th to 29th April 2015. According to the organizers the Oil & Gas Africa will offer participants the opportunity to showcase the industry’s latest achievements and technologies while networking with …

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Africa Energy Summit Kicks off in Oslo, Norway

African Ministers of Energy from Ghana and Zambia are amongst the attendees at the Norway – Africa Energy Summit organized by Norfund and the Norwegian-African Business Association (NABA). The African Ministers of Energy will, alongside energy companies, investors and researchers, highlight the current status on energy in Africa. They will underline the necessity of putting …

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Pancontinental Oil and Gas withdraws from Kenya’s Block L10B

Australian explorer Pancontinental has served a notice of withdrawal on BG Kenya L10B Limited the only remaining participant and operator of Kenya Licence L10B from the Joint Operating Agreement with BG and from the PSC governing L10B. Pancontinental holds a 25% interest in L10B, while BG holds 75%. Licence area L10B lies immediately to the …

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Shell set to make a major comeback in East Africa with acquisition of BG Group

The announced offer of  acquisition of the BG Group by Royal Dutch Shell in a deal expected to be in excess of $70 billion could several blocks offshore East Africa fall on Shell’s hands including the Gas rich operated Block 1 and 4 in Tanzania as well as Kenya’s block  L10A and L10B. The Combination …

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