Gulf Energy E&P BV has secured a US$15 million onshore oil rig in the United Arab Emirates, marking a major step towards delivering first oil from the South Lokichar Basin before the end of the year. The GW70 rig, leased long-term from Great Wall Drilling Company (GWDC), will be shipped from Abu Dhabi to Mombasa […]
Government has lost Shs256b in tax revenue in the latest deal where Irish Tullow agreed to sell its remaining 33.33 per cent stake in Uganda to French oil giant Total E&P, which transaction was announced by both companies yesterday morning. Government will take only Shs54.6b ($14.6m) on the transaction down from Shs310b ($85m) which Tullow […]
Tullow Oil PLC is expecting bids for sale of Kenyan unit to follow after sealing the sale of Ugandan assets at Sh61.7 billion ($575 million) to cut debt. Tullow Oil PLC is expecting bids for sale of Kenyan unit to follow after sealing the sale of Ugandan assets at Sh61.7 billion ($575 million) to cut […]
Kenya’s dream to join the league of petroleum exporting countries became a reality today as the first consignment of Kenyan crude oil left the Port of Mombasa today. The consignment of 200,000 barrels of low sulphur crude from Kenya’s oil fields in Turkana County, bought by United Kingdom based ChemChina UK, is worth Shs1.2 billion, […]
Director, Department of Energy, Dr. Mark Bynoe, today, announced that UK-based Tullow Oil plc’s (Tullow) Joe-1 exploration well has discovered a new Upper Tertiary oil play in the Guyana basin. This is the second find of oil in two different wells operated by Tullow, in less than six weeks, a statement from the Ministry of […]
2019 is likely to see continued growth in oil demand despite the fluctuation of prices and energy demands withstood by the industry throughout 2014-16. These fluctuations occurred due to a variety of reasons – a large one being the widening differentials between supply and demand. But with energy consumption rapidly increasing in fast-growing and populated […]
