Month: June 2019

Tanzanian petrol prices up, diesel down as Shilling gains

Petrol prices have gone up across the country this month but prices for diesel imported in the country through Dar es Salaam port have gone down, the energy regulator, has announced. The Energy and Water Utilities Regulatory Authority (EWURA) said in a statement that prices for petrol imported in the country through Dar es Salaam, Tanga and Mtwara ports will slightly go up but lowered prices for diesel imported through Dar es Salaam port. Retail prices of Petrol and Kerosene imported in the country through Dar es Salaam port increased by 86/- per litre (equivalent to 4.02 per cent)...

Read More

NNPC’s partner Pan Ocean builds longest oil pipeline in Africa

The contractor for Oil Mining Lease 147 in production sharing contract with the Nigerian National Petroleum Corporation (NNPC) Pan Ocean Oil Corporation (Nigeria) Limited, says it has completed three key projects, comprising a crude oil pipeline, a gas processing plant and a production facility. The company in a statement on Sunday said the unveiling of the projects, Amukpe-Escravos Pipeline Project, Ovade-Ogharefe Gas Processing Plant Phases I and II and OML 147 Early Production Facility at Owa-Alidinma, are scheduled for June. The statement disclosed that the Amukpe-Escravos Pipeline consists a 67-kilometre X 20 inch, a low-risk underground pipeline that will...

Read More

Standard Bank Predicts Increased Investment in Oil and Gas Sector

Africa is likely to experience continued oil and gas investment over the next three to five years as the stabilisation of crude prices above US$ 60 a barrel, coupled with the continent’s rapidly expanding population, lure both major and independent oil producers to invest in the continent. This view was expressed by Dele Kati, Head, Oil and Gas, at the Standard Bank Group. According to him, a string of successful exploration projects over the last decade had seen the number of African countries with proven oil and gas reserves rise to 28. He said this could be linked to...

Read More

Chevron pulls out of South Africa

US major Chevron, has finally pulled out of South Africa. It is official. The company was never keen on the country’s upstream. And now, the authorities have finally approved its offloading of its downstream assets for a total $1Billion to a vehicle controlled by Glencore, the oil trader. The sale had dragged on for one year. In March 2018, South Africa’s Competition Tribunal conditionally approved the acquisition of Chevron SA by Sinopec, one of China’s three oil and gas behemoths. But Glencore out-foxed Sinopec when it bankrolled Off The Shelf Investments — Chevron SA’s empowerment partner — to exercise...

Read More

NNPC harps on Nigerian LPG sector opportunities for investors

Contrary to the thinking that Liquefied Petroleum Gas (LPG), also known as cooking gas, is only for a certain class of people, the Nigerian National Petroleum Corporation (NNPC), has stated that the LPG market in Nigeria has room for everyone to operate. The Group Managing Director of the NNPC, Dr. Maikanti Baru, made this assertion at the Argus West Africa LPG Conference in Abuja, recently. Speaking at the conference, the GMD who was represented by his Technical Assistant, Downstream, Abdulkabir Ahmed, contended that the challenges faced in the nation’s LPG sector provide opportunities for people from all strata of...

Read More