Oil exploration begins in Lamu
US-based firm, Camac Energy, is commencing exploration for oil and natural gas on two blocks in Lamu.
Camac has a contracted Canadian firm Sander Geophysics Limited to undertake geophysical surveys on the L1B and L16 onshore blocks in Lamu.
CNPC to buy stake in Eni’s Africa gas assets
China National Petroleum Corporation (CNPC), the country’s largest oil producer, will spend $4.2bn for a stake in Italian firm Eni’s African natural gas assets, as China looks to feed energy demand while reducing its reliance on coal.
Read more: CNPC to buy stake in Eni’s Africa gas assets
South Sudan Oil Exports Expected To Reach Global Markets In May
South Sudan’s crude-oil exports are expected to reach the international market by May, Wall Street Journal (WSJ) reported on Wednesday, citing a top official at the national oil company.
Read more: South Sudan Oil Exports Expected To Reach Global Markets In May
East African Oil Goes Boom
In 1977 there were 1 million cars in China. Today there are 51 million. Mob scenes at Toyota dealerships in Beijing are evidence that this trend is not going away.
Global oil demand grew by 800,000 barrels a day in 2012 and is forecast to increase a million barrels a day for 2013.
