AfDB willing to arrange Kenya oil pipeline financing
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- Category: Oil & Gas
- Published on Saturday, 02 April 2016 08:47
- Written by Super User
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Resolving the pipeline route is vital in helping oil firms involved in Uganda and Kenya make a final investment decision on developing oil fields.The African Development Bank (AfDB) is ready to act as a lead arranger for financing of Kenya's planned oil pipeline to move crude from fields in the far north county of Turkana, a senior official of the bank said on Friday.Kenya and Uganda have been haggling over which route to choose for an oil export pipeline that Kenya wants to run through its territory rather than neighbouring Tanzania, where an alternate project backed by oil major Total, looks set to get the green light. Officials from both countries have been crisscrossing the region, visiting facilities along the proposed routes, and holding meetings with executives of oil firms in order to reach a final decision.Whatever comes out of this conversation, one thing is for sure - Kenya will build a pipeline, said Gabriel Negatu, the Nairobi-based regional director of the AfDB.He said South Sudan would probably link up with Kenya, just based on proximity, as both countries look to pipe its oil out to the world through the proposed port of Lamu, which formed part of a broader infrastructure development plan known as the Lamu Port Southern Sudan-Ethiopia Transport (LAPSSET) Corridor.
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Kenya and Uganda presidents to meet oil companies over crude pipeline
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- Category: Oil & Gas
- Published on Tuesday, 29 March 2016 04:21
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Kenya and Uganda's presidents and oil company executives will meet on Monday to hold further discussions on a route for a pipeline to transport the two countries' oil, the Kenyan president's spokesman said on Sunday.
Resolving the pipeline route is crucial to helping oil companies involved in Uganda and Kenya to make final investment decisions on developing oil fields.
"President Uhuru Kenyatta will host Ugandan President Yoweri Museveni tomorrow ... They will discuss the construction of the Uganda-Kenya oil pipeline, a key plank of the Northern Corridor Infrastructure Projects," Manoah Esipisu said in a statement.
Last wee, Tanzania's presidency said that Total, which has a stake in Uganda's crude oil discoveries, had set aside $4 billion to build a pipeline from Ugandan fields to the Tanzanian coast and that Tanzania wants the three-year construction schedule shortened.
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Tullow gets boost in Maersk Oil Kenya deal
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- Published on Saturday, 06 February 2016 07:49
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Africa Oil Corporation, the partner of Tullow Oil Plc in Kenya has received Sh43.6 billion ($427 million) from Maersk Oil & Gas of Denmark in exchange for half of its stake in three exploration blocks located in the Lokichar basin.
The deal brings in Maersk as a partner in blocks 10BB, 13T and 10BA where it will own 25 per cent interest, scaling down Africa Oil’s stake to 25 per cent while Tullow retains a 50 per cent interest in the blocks.
The farm-out arrangement was approved by Kenyan authorities last month but both companies had not reached a financial settlement.
US to finance the gist of an Oil pipeline in Kenya
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- Published on Tuesday, 12 January 2016 12:55
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The Kenyan oil industry is set to receive a financial boost of US$1.3bn from the American Government as they have expressed interest in funding the construction of an oil pipeline in Kenya that will link the northern oil fields to Lamu.
The US$ 2.3bn development is a positive and tremendous project as South Sudan and Ethiopia will be linked up to the Lamu port.
The US Ambassador to Kenya, Mr. Robert Godec confirmed the reports and said that US$ 1.3bn will be provided by his government and help accelerate the oil pipeline in Kenya.
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