PWC – Existing energy companies must become agile to withstand new competition

With growing interest and investment from India, China and international oil companies operating in Africa, there has been increased competition for exploration acreage in recent years. As some of the traditional multinationals divest from areas in Africa, opportunities for new independents will emerge, causing the trading mix and diversity of the companies trading in Africa …

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Vanoil Provides Update on License Renewals in Kenya

“Vanoil Energy  a Vancouver-based Canadian international oil and gas development company has confirmed ongoing discussions with the Kenyan Government with regard to its license renewals in Kenya.These talks are now at a key stage and the Company expects them to conclude imminently. At such time, Vanoil will provide an immediate information update to the market.” …

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Taipan announces update on 220 million barrel Kenyan prospect

Taipan Resources Inc. has announced that BGP has commenced the acquisition of further 2D seismic data on Block 2B, onshore Kenya. The data acquired will be used to finalize the drilling location for the Pearl-1 prospect. BGP has been contracted to provide an additional 178.75 km of 540 fold 2D seismic data. The seismic program …

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Solo Oil announces Addendum to the Ruvuma PSA, Tanzania

[twitter-follow screen_name=’oilnewskenya’] Solo has announced that an Addendum to the Ruvuma Production Sharing Agreement has been signed with the Minister of Energy and Mines for the Ruvuma onshore Petroleum Sharing Agreement (“PSA”) in Tanzania. The Addendum allows for the remaining obligations under the First Extension Period to be completed in the Second Extension Period.  The amended agreement …

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Tullow Oil to educate 100 Africans on Oil and Gas

[twitter-follow screen_name=’oilnewskenya’] Tullow Oil has announced that it is now receiving scholarship applications from interested students in the oil and gas sectors in seven African countries it operates. Among countries that can apply include: Kenya, Uganda, Ivory Coast, Ghana, Ethiopia and Mauritania with applications open from January 31st to 28th February 2014. The scholarships that …

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Uganda Announces Deal With Foreign Oil Companies

[twitter-follow screen_name=’oilnewskenya’] Story by CommodityHQ The government of Uganda is ready to develop its oil sector, but says it prefers to ramp up production slowly. n recent years, investors have witnessed the US becoming a dominant force in the crude oil space, thanks in part to a development in technologies like fracking, as well as …

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Licensing of Kenyan oil exploration blocks frozen

The ministry of energy has stopped all licensing of oil exploration blocks in Kenya until the government puts in place the Energy Act. According to energy principal secretary Joseph Njoroge the new law will align to constitutional alignments. “We have opted to freeze licensing for oil prospectors until we have put a proper legal framework …

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Statoil top energy company in global sustainability rankings

Corporate Knights has ranked Statoil number four, and the number-one energy company, on the Global 100 list of the world’s most sustainable corporations. The announcement was made at the World Economic Forum in Davos, Switzerland last week. The Canadian media company made its list from an initial group of 4,000 publicly traded companies. These were first …

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South Sudan starts to lose oil buyers as conflict continues

[twitter-follow screen_name=’oilnewskenya’] Buyers of South Sudanese crude oil have been looking for alternative sources following the conflict that broke out last month affecting oil production in especially South Kordofan and Unity State. South Sudan which had been producing 250,000 b/d is now losing buyers from India, China and Japan who have now sought new markets …

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Mobilizing Finance for Energy Development in Africa

[twitter-follow screen_name=’oilnewskenya’] Story by Oil Council Many economies on the African continent are undergoing a transformative expansion. Recent oil and gas discoveries, along with improvements in transparency and governance, have prompted the opening of new markets to foreign investment in all segments of the oil and gas value chain. International investors are also proving increasingly …

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