oil gas

Gas fuels Tanzania, Mozambique growth

Photo©Graham KietzmannMozambique and Tanzania's economic potential has been hard hit by low prices for natural gas, but investors are now looking closer to home for customers.

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Oil & Gas: Uganda gives Tullow Oil, Total production licences

Photo©Stephen Hird/ReutersUganda granted on Tuesday five production licences to UK-listed explorer Tullow Oil and three to France's Total, clearing a major hurdle as the east African country aims to move more quickly towards crude production.

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Oil & Gas: Kenya finalises agreement for development of crude oil pipeline

Photo©Sue Ogrocki/AP/SIPAKenya has finalised an agreement with oil explorer Tullow Oil and its partners Africa Oil and A.P. Moller-Maersk for the development of a crude oil pipeline, as it bids to become an oil exporter, the president's office said.

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Ghana oil companies fail to pay $0.721 million

Photo©Martin Sterba/AP/SIPANine out of 16 oil companies in Ghana failed to pay $721,000 as surface rental charges to the government last year, leading to a 61 percent drop in revenue, the country's Public Interest Accountability Committee 2015 annual report has revealed.

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Energy: Nigeria slump hits $1bn Transcorp power investment

File photo©Andy Wong/AP/SIPANigeria's investment conglomerate Transnational Corp. has shelved plans to build a $1bn gas-fired power plant blaming fuel shortages and a lack of finance caused by the country's economic downturn.

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Uganda to grant oil production licences to France's Total

Photo©Wolfgang Rattay/ReutersUganda's cabinet agreed on Wednesday to allow the energy ministry to grant three oil production licences to France's Total, the presidency said.

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Libya: National Oil Corporation wary of broken promises in oil ports deal

A truck drives as smokes rises following a fire in an oil storage tank at the port of Es Sider, in Ras Lanuf. Photo©ReutersLibya's National Oil Corporation, which hopes to more than quadruple the country's oil output by the end of this year, remains wary that promises to reopen blockaded ports could be broken.

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Algeria to implement 'new growth model' to cope with oil price drop

Algerian President Abdelaziz Bouteflika. Photo©Sidali Djarboub/AP/SIPAAlgeria pans to launch a new "economic growth model" for the next four years focussed on reforming the tax system to bring in more revenue and reduce dependence on energy exports.

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Uganda central bank warns of "debt distress" if oil revenues delayed

Uganda could face "debt distress" in as little as two years if a start to oil production is delayed further, after ramping up its foreign borrowing in recent years.

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Protests over salaries delay Libyan oil shipments

File photo©Kamran Jebreili/AP/SIPAGuards protesting over pay shut the eastern Libyan oil terminal of Hariga on Sunday, delaying two shipments of crude, a port official said.

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