Archive for the ‘Oil & Gas’ category
When the oil rigs started pumping crude off the coast of Ghana’s Western Region in December 2009, many people hoped for better living standards and development.
Large gas discoveries off the East African coastline could be a major economic boost. However, prosperity is by no means a given.
Uganda’s oil deposits are 40% higher than earlier believed.
Malawi and Tanzania are scheduled to hold a high level meeting on the 20th of August on a standoff over oil and gas exploration as well as on the ownership of Lake Malawi.
If Kenya does manage to evade the ‘oil curse’ that other African nations have grappled with, it will still take several years before the oil discovery translates to cash.
UK-based Tullow Oil today announced that it has found oil in Kenya.
The recent natural gas discoveries off the coast of Mozambique are important because of the size of the reserves as well as the country’s relative proximity to markets in Asia.
Kenya hopes a commercial discovery will be made in the near future as the country has geological features similar to those of areas where crude oil was found in Uganda and natural gas is being exploited in Tanzania.
More than a year after Ghana pumped its first commercial crude oil, production is yet to reach its capacity of 120,000 barrels per day (bpd).
While many people on 1 January had to cope with a headache after the previous night’s festivities, Nigerians entered the new year with an additional misery.
Potential crude oil resources off the coast of Namibia could have a considerable impact on the country that has a population of just over 2 million.
Ahead of the proposed start of oil production next year, Ugandans have mixed feelings about how crude will impact their lives.
South Africa’s West Coast could become a major oil and gas hub for the entire sub-Saharan Africa region.
Africa is poised to become a major player in the global oil markets due to the discovery of new reserves and as it ramps up production to meet growing global demand, especially from China.
Uganda is pinning a lot of hope on the domino effect to other parts of the economy that the discovery of oil could have.