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Kenya Plans Sovereign Wealth Fund Before Oil Cash

AFRICANGLOBE - Kenya's planned sovereign wealth fund will be set up before the expected flow of oil money from recent discoveries in the country's north. Acting Central Bank of Kenya chairman Mbui Wagacha said the framework for the sovereign wealth fund had been completed and that it was being fine-tuned.

Uganda, Kenya To Build World’s Longest Heated Oil Pipeline

AFRICANGLOBE - Should Uganda and Kenya finally build a crude oil export pipeline, it will be the longest heated such facility in the world. According to a report released last month by Tullow Oil Plc, both countries have agreed to build the pipeline and have commenced a comprehensive study on the pipeline.

Tullow Announces Fifth Consecutive Oil Discovery In Kenya

AFRICANGLOBE - Africa-focused Tullow Oil Plc has struck oil at the Agete-1 well in northern Kenya, its fifth consecutive discovery since it began drilling in a region that is a new frontier for oil and natural gas exploration.

Tullow Drills For Ethiopia’s First Oil In South Omo

AFRICANGLOBE - Tullow Oil Plc (TLW), the U.K. explorer that found Kenya’s first crude a year ago, is about to find out whether the resources extend into neighboring Ethiopia, a nation dependent on agriculture that’s yet to discover any petroleum. Tullow, Africa Oil Corp. (AOI) and Marathon Oil Corp. (MRO) plan to complete their Sabisa well in western Ethiopia’s South Omo Block this quarter.

Kenya Moves Closer to Becoming an Oil Producing Country

AFRICANGLOBE - Kenya is moving closer to being an oil producing country after the British based exploration firm Tullow Oil Plc announced on Wednesday that the fourth test on oil deposits at Twiga South-1 well has for the first time showed real signs of being commercially viable. The four tests on the deposits were carried out between January and February this year.

Exploration Firm Strikes More Oil in Kenya

Exploration firm Tullow Oil plc on Wednesday announced a fresh discovery of oil deposits at Twiga South-1 exploration well, on Block 13T in Northern...

Tullow Set to Start Drilling for Oil in Ethiopia

The global oil and gas exploration company, Tullow Oil Plc, is set to start drilling on the concession it has in South Omo Valley,...