Players in the energy and related sectors will Thursday meet in Nairobi for a discussion and networking forum in a meeting that is expected to bring ideas and potential uses of energy in the region to the fore.
The event put together by Saada Abdallah and Kagume Chiuri will not only target players already in the energy field but also multiple fields such as law, engineering, finance and taxation.
The organizers add that The Connect event which is running with the theme “involve me and I’ll learn” will help people to get to know each another across different fields all with the common interest in understanding energy
Oil traded near $30 a barrel as Iran loaded its first cargo to Europe since international sanctions ended and Chinese crude imports dropped from a record.
West Texas Intermediate futures were little changed in New York, paring earlier losses of as much as 1.7 percent. Brent in London traded near $33 a barrel. A tanker for France’s Total SA was being loaded Sunday at Kharg Island while vessels chartered for Chinese and Spanish companies were due to arrive later the same day, an Iranian oil ministry official said. Chinese imports in January fell almost 20 percent from the previous month, according to government data.
Civil society organisations including Global Rights Alert, Transparency International & ActionAid Uganda have launched an online petition calling on government to ensure transparency in managing oil revenue by joining the Extractive Industries Transparency Initiative (EITI). In the meantime, a columnist argues that secrecy in oil deals could undermine locals' ability to benefit from oil revenue.
Following the earlier announced cut in exploration costs by Tullow oil the explorer has said it will focus on seismic surveying, processing and interpretation, high-grading and progressing leads to drill worthy prospects as oil prices continue to remain at an all-time low.
Tullow Oil which has set just $100 million for exploration adds it will also continue seeking low cost and highly prospective acreage in core areas to ensure that the business maintains its industry-leading exploration portfolio.
“Exploration will continue to be a key part of Tullow’s long-term growth strategy, however, given sustained low oil prices, capex will be around $0.1 billion...