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Former executives from Cove Energy Plc will start an Africa-focussed oil and gas exploration firm after the company was sold for US$1.9bn to Thailand’s PTTE, earlier in 2012
Residents in the Kabaale village in
The Tanzanian government is to introduce a Strategic Petroleum Reserve (SPR) plan to ensure the country has adequate stock of fuel at all times
Tanzania's deputy minister for energy and minerals, George Simbachawene, informed the National Assembly that the move would ensure a constant supply of oil in the country.
The Ministry of Energy and Minerals has also been considering a review of regulations regarding its bulk procurement system (BPS).
The deputy minister said the recent shortage of petroleum was due to inefficiency by the Petroleum Importation Co-ordinator (PIC), an entity charged with co-ordinating importation of oil through a BPS.
Simbachawene added, “At present, the government has been forced to restructure the PIC Board of Directors to address challenges that have afflicted the industry."
He also explained that joint efforts were underway between the Ministry of Energy and Ministry for Transport to bring about efficient functioning of single point mooring to improve oil discharging capacity at the port of Dar es Salaam.
The deputy minister had earlier indicated that poor discharging infrastructure at the port was among the factors that led to the shortage.
The existing facility, the Kurasini Oil Jetty, has recently been overwhelmed by increased demand for both local and transit markets.
Algeria is set to invest US$80bn in its energy sector, particularly the oil and gas industries, from 2012-2016 in an attempt to meet growing demands
French oil and gas company Total and South Africa-based mining and energy firm Sasol have temporarily closed down their co-owned Natref refinery for maintenance