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Somalia Invites Energy Companies To Explore For Oil

AFRICANGLOBE - The price of oil may have fallen off a cliff recently, but that has not deterred energy giants like Exxon Mobil, Royal Dutch Shell, BP and Chevron from reactivating plans to drill in Somalia.

Will Somalia’s Hydrocarbon Boom Oil Or Spoil Its Future?

AFRICANGLOBE - Currently thought of as the petroleum sector’s latest ‘frontier region’, Somalia constitutes not only one of the most promising, but also most the most challenging of potential oil exporting countries.

Kenya Oil Potential Five Times Initial Estimates

AFRICANGLOBE - Canadian oil exploration firm Africa Oil announced a five-fold increase in its estimate of the oil reserves in Turkana County's South Lokichar Basin after a year of testing in the area, Kenya's Daily Nation reported Tuesday (September 3rd).

South Sudan Oil Output Expected to Rise

AFRICANGLOBE - Sudan plans a budget of between 20 and 30 billion Sudanese pounds ($7 billion) in 2013, boosted by higher oil output and...

Oil in Congo – Threat to Stability or Development Opportunity?

Although it should provide development opportunities, renewed oil interest in the Democratic Republic of the Congo (DRC) represents a real threat to stability in...

Oil to Catalyse Billions in Investment in East Africa

Recent oil discoveries will trigger billions of dollars in investment into Uganda, a new report says. However, it warns that oil discoveries in neighbouring...

Shell Sets Sights On Ghana’s Oil Reserves

AFRICANGLOBE - Ever since Ghana discovered commercial quantities of oil in June 2007 and began commercial production December 15, 2010, many oil companies have expressed interest in the country's reserves of 'black gold'.