Browsing: Oil and Gas

Zimbabwe has one of the most diverse mining sectors I have ever come across. The country’s soil is rich in elements such as platinum, coal, iron ore, gold, diamonds and most recently the prospect of oil and gas.

Despite its complex economic challenges, mining, along with agriculture, has been a key pillar supporting the country’s GDP. The sector is responsible for around 60% of Zimbabwe’s export earnings and remains as one of the main sources for the much welcome foreign currency inflow.

FurtherAfrica spoke to the Hon. Winston Chitando, Zimbabwe’s Minister of Mines and Mining Development for an open conversation about Zimbabwe’s mining sector, its challenges, new prospects and raising opportunities. Min. Chitando has a remarkable record in his country’s mining industry spanning well over 3 decades. Previous to his appointment as Zimbabwe’s Minister of Mines and Mining Development, he has held several different positions in major companies such as …

Oil and Gas

Let’s say you are one of the business spirited types and you got wind of a new road and a weighbridge station to set up. Your entrepreneurship senses spike up, you start your research on what the demand of the area is and you get ready to set up shop.

Oil & Gas: Tanzania losing investors

One month, two months, three months…one year pass, the road works have not started, talks amass but no groundwork, do you think you will still want or even have the resources to set up that shop, one year down the road?

That is what UTT Asset Management and Investor Services Plc (UTT-Amis) faced waiting to invest in the much-coveted US$30 Billion Liquefied Natural Gas (LNG) Uganda-Tanzania pipeline.

You see, UTT-Amis was interested in investing in an area in excess of 2,072 hectares of land that was strategically located right where the …

In the past 5 years, Southern Africa had seen a great influx of Chinese capital in any areas of investment. Many Chinese companies invested large amounts of capital in various sectors including infrastructure, but the one that seems to be getting the most attention lately is the Oil and Gas sector.

Governments would sign multi year contracts granting exploration rights and concessions to oil and natural gas reserves to Chinese companies and negotiate royalties and equity in exchange.

The system worked as a co-ownership that was observed in various countries for the great part of the last decade. Since late 2018, or early 2019, China and the United States have engaged in an economic battle that has seen threats and embargoes being set by both sides. The tensions have not eased with the current pandemic as some world leaders chose to blame China’s lack of transparency to the current pandemic …

Mozambique is a country blessed with vast natural resources and abundant fertile lands – some of the key elements to ignite economic growth and social development that promises to change the good faith of the country.

Nevertheless, and despite the massive approved foreign investment related to natural gas rivalling its GDP, Mozambique will face strong challenges in order to secure a better future.

FurtherAfrica spoke to H.E. Adriano Maleiane, Mozambique’s Minister of Economy and Finance to better understand how the country intends to tackle these challenges using long-term strategies to ensure economic sustainability and a better future for its people.

Mr. Maleiane is no stranger to challenges, having served as Governor of Mozambique’s central bank for some 15 years and later overlooking the founding of the country’s national investment and development bank, an institution he served for nearly 5 years as chairman before he was appointed Minister of Economy and …

The $3.5 billion and 1,443 km crude oil pipeline project, stretching from Lake Albert in Uganda to Tanzania’s port in Tanga, will be fast-tracked to commence the implementation of the project, which was put on hold last year.

Tullow is a recognised independent oil & gas, exploration and production company based in Africa and South America The company has interests in over 70 exploration and production licences across 15 countries.

According to information from The Citizen, a Total delegation led by President, Exploration and Production Arnaud Breuillac held talks with Energy minister Dr Medard Kalemani on Friday. The talks aimed at updating the Tanzania government on the new development.

“We are now enabled to fast track finalisation of legal and commercial agreements to pave the way for the Final Investment Decision (FID) before commencing implementation of the Project,” he said.

However, as both partners—Tanzania and Uganda face-off COVID-19 challenges, Mr …

Shanta Gold, the London Stock Exchange-listed gold miner with interests in southern Tanzania has announced plans to take over the gold prospecting activities in Kenya, formerly held by Barrick Gold.

The East Africa-focused gold producer announces that it has entered into a definitive agreement pursuant to which it will purchase 100% of the shares of Barrick’s subsidiary Acacia Exploration (Kenya) Ltd. from two subsidiaries of Barrick Gold Corporation.

The West Kenya license holds about 1.18 million ounces of gold with a grade of 12.6 grams per tonne (g/t believed to be one of the highest grading +1 Moz gold deposits in Africa. The project covers 1,161 sq km within the Lake Victoria greenstone gold field located in NW Tanzania and SW Kenya and home to Global Tier 1 assets including North Mara and Geita Gold Mine.

Eric Zurrin, Chief Executive Officer noted the acquisition of the Western Kenya project solidifies …

Across East Africa, Tanzania is strategically positioning itself as the next Sub-Saharan powerhouse, with the potential to draw billions, revitalize its economy and strive to industrialize Tanzania.

The third Tanzania Oil and Gas Congress, went a step further to explore crucial aspects within the extractives industry, such as sectorial collaboration for successful oil and gas projects, updates on Tanzania’s projects and global market overviews and short-term demand and supply in Tanzania.

The congress brought forth strategic players from top-notch oil and gas industry spheres, who have been leveling the playing field for the past two days.

It goes without saying: Tanzania oil and gas landscape, is yet to see vital potential investments and operational improvement on domestic consumption and exportation of natural gas as well as oil exploration.

In that context, Tanzania stands to draw potential investors and elongate standing development strategies, not only via the extractive industry but mirroring …

The 3rd Oil and Gas Congress took off on 2^nd October, in commercial city Dar es Salaam, drawing in vital players from the Energy arena. The 3rd congress, saw a huge number of investors and technocrats leave with key and crucial messages and new prospects in the industry, including possible missions to embark on oil-discoveries and more gas reserves in Tanzania.

International delegates from top-notch companies in the world: Total, Shell, Equinor, Dodsal and representatives from neighboring countries working with Tanzania, in strategic oil and gas projects, Kenya, Zambia and Uganda, witnessed how Tanzania, is positioning its self to be the next powerhouse in Africa.

During the congress, Tanzania’s Minister of Energy, Hon. Dr. Medard Kalemeni, revealed rather vital information, that could transform the oil and gas landscape in Tanzania.

“Tanzania has not discovered oil yet, but it is developing strategies to embark on discovering oil” the Minister added.…