Market News Page No. 564| Africa Business News | Afrotrade

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Spectrum, OMNIS sign new seismic brokerage agreement in Madagascar OCTOBER 10, 2014 BY SAMUEL KAMAU MBOTE

Spectrum and OMNIS in Madagascar have signed an agreement where Spectrum assumes exclusive brokerage rights to the majority of the vintage seismic data located both offshore and onshore Madagascar. The various datasets total over 69,000 km. The Agreement also grants Spectrum the right to reprocess any of the seismic datasets and to license these to interested oil companies on a Multi-Client basis. The data complements.... Read more »

Posted on : Wednesday , 15th October 2014

Solo Oil acquires interest in Kiliwani North Gas Field, Tanzania

Solo Oil plc has announced that it has signed binding heads of agreement to acquire an initial 6.5% interest in the soon to be producing Kiliwani North Development License in Tanzania from Ndovu Resources Ltd. for a total consideration of US$3.5 million (“Initial Acquisition”). Solo also has a 45 day option to increase its interest in the KNDL by a further 6.5% to 13% (“Second.... Read more »

Posted on : Wednesday , 15th October 2014

Algeria announced its intention to move forward with exploration plans in the North of the country

Algeria announced its intention to move forward with exploration plans in the North of the country, also adding it plans to begin shale gas production by 2022. "We have a great hydrocarbon exploration potential in the country's North and we seek to encourage energy investment through partnership," Energy Minister Youcef Yousfi said on Sunday as reported by Algeria Press Service. Yousfi made clear that Algeri will try to promote.... Read more »

Posted on : Wednesday , 15th October 2014

Statoil and co-venturer Exxon Mobil today announced that the Giligiliani-1 exploration well has resulted in a new natural gas discovery.

Statoil and co-venturer Exxon Mobil today announced that the Giligiliani-1 exploration well has resulted in a new natural gas discovery offshore Tanzania. The discovery of an additional 1.2 trillion cubic feet (tcf*) of natural gas in place in the Giligiliani-1 well brings the total of in-place volumes up to approximately 21 tcf in block 2.The Giligiliani-1 discovery is located along the western side of block 2 at a 2,500-metre water.... Read more »

Posted on : Wednesday , 15th October 2014

Coca-Cola launches PET recycling scheme in Kenya

According to the East African, the company launched its drive to have more of the country's used polyethylene terephthalate (PET) recycled, in collaboration with bottle maker Safepak and the Highlands Mineral Water Company. The three organisations aim to be recycling 70 per cent of the plastic containers they release to consumers by 2015. Bob Okello, public affairs manager for Coca-Cola East and Central Africa, told the news provider that it was.... Read more »

Posted on : Wednesday , 15th October 2014

Drilling rig for 200,000bpd Egina oilfield sails to Nigeria

A drilling rig, christened ‘West Jupiter,’ which will be used for the drilling of all the oil wells at the 200,000 barrels per day Egina deepwater oilfield, being developed by Total Upstream Companies in Nigeria has sailed away from South Korea, thus demonstrating another milestone in the development of the $3.5 billion Egina project reports This Day. Speaking during the ground – breaking ceremony of the.... Read more »

Posted on : Friday , 10th October 2014

Shell Logo Shell Sells OML 29

Oil major, Royal Dutch Shell has agreed to sell the prolific Oil Mining Lease (OML) 29 to a consortium led by oil-trading firms Aiteo and Taleveras Group in a deal in which the consortium will pay $2.58 billion for the block and an associated pipeline according to This Day. Shell had indicated its plan to sell four of its onshore oil blocks – OMLs 18, 24, 25 and 29 – in addition to Nembe Creek Trunkline, which for.... Read more »

Posted on : Friday , 10th October 2014

Refining capacity in Nigeria, lower than other African countries � Report

Nigeria, despite its status as Africa’s top crude oil producer and exporter, continues to trail other African countries such as Algeria, Egypt, Libya and South Africa in terms of refining capacity reports The Punch. The World Oil and Gas Review 2014, released this week, shows Egypt as having the highest primary refining capacity in 2013 among the five countries, followed by Algeria and South Africa. Primary capacity.... Read more »

Posted on : Friday , 10th October 2014

Made-in-Nigeria Hyundai Cars Hit Market

Hyundai Motors Nigeria Limited has started phased delivery of low priced made-in-Nigeria cars assembled at the company's plant in Lagos to its provisional dealers nationwideThis is coming barely three months after Stallion Group owners of the multivehicle plant roll-out made-in-Nigeria Nissan range of vehicles in April.The Chairman of Stallion Group, Mr. Sunil Vaswani who broke the news recently said the new vehicles "will be affordably.... Read more »

Posted on : Thursday , 9th October 2014

Lancet Kenya plans $2.3m expansion into Rwanda with 3 labs in Kigali

Lancet Kenya, a diagnostic laboratory, plans to set up shop in Rwanda from October at a cost of Ksh200 million ($2.3 million) as it looks to cement its regional business. The money will be spent on equipping the Kigali lab and building three other facilities, including one in Butare. "Our intention is that by the end of the year, we should have three laboratories in Kigali, after which we will pursue partnerships to increase our.... Read more »

Posted on : Thursday , 9th October 2014

U.S. Investors to Use Sh50 Million On Siaya Hospital

Siaya Governor Cornel Rasanga yesterday said they will sign an MoU with the University of Tennessee, which is one of the world's leading institutions in medical, healthcare training and medical research. "The institution will facilitate the upgrading of the facility to a world class healthcare institution and a centre of excellence in the provision of healthcare," Rasanga said. He was accompanied by Deputy Governor Ouma Onyango.... Read more »

Posted on : Thursday , 9th October 2014

Rwanda, Uganda sign medicine imports deal

Rwanda and Uganda have signed a bilateral agreement to open their markets for pharmaceutical products. In addition, the deal will boost the war against the cross-border trade in fake drugs. The deal will enhance exchange of information in pharmaceutical products with a framework to promote medical research and development of the pharmaceutical industry. Officials said the two countries will access drugs manufactured by companies across.... Read more »

Posted on : Thursday , 9th October 2014

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