NAIROBI, Dec 10 (Reuters) – The World Bank cut its growth
forecast for Kenya for 2013 and 2014 to around 5 percent, citing
low levels of government spending and high interest rates
charged by commercial banks.
The cuts suggest growth rates in east Africa’s biggest
economy will lag those of its neighbours.
NAIROBI, Dec 5 (Reuters) – Tanzania has assured Britain’s
Ophir Energy and a unit of Singapore’s Temasek Holdings
that their proposed $1.3 billion asset sale of natural gas
fields in the east African nation will proceed smoothly and get
Ophir said last month it would sell a 20 percent
shareholding in Tanzanian Blocks 1, 3 and 4 to Pavilion Energy,
owned by Singapore state investor Temasek, for an
initial $1.25 billion plus a further contingent consideration of
NAIROBI, Nov 15 (Reuters) – Kenyan tea firm Williamson Tea
reported a rise in pretax profit for the first half
ended September, while peer Kapchorua posted a fall,
and both said falling tea prices were likely to hurt their
Williamson Tea, which shares owners with Kapchorua, said its
pretax profit rose 32 percent to 526 million shillings ($6.1
million), while that of Kapchorua fell 27 percent to 109.9
NAIROBI, Nov 7 (Reuters) – Tullow Oil and partner
Africa Oil said they would resume exploratory drilling
this week in northwest Kenya after reaching an agreement with
local leaders to prevent a repeat of protests that halted work
Residents of the remote, poverty-stricken northern Turkana
community, supported by a local politician, marched on Tullow
operations on Oct. 26 to demand more jobs and other benefits.
The government said protesters ransacked one site.
NAIROBI, Oct 30 (Reuters) – Kenya’s government would like
Africa-focussed explorer Tullow Oil to resume drilling
at two blocks next week and will hold talks with protesters
whose actions halted work at the sites, a minister said on
Oil discoveries in Uganda and gas finds offshore Tanzania
and Mozambique have drawn explorers to east Africa, now seen as
a potentially major new producing region.
NAIROBI, Oct 29 (Reuters) – South Sudan plans to auction
licences for a yet-to-be determined number of new petroleum
exploration blocks once it has finished mapping them, a senior
energy ministry official said on Tuesday.
South Sudan produces about 190,000 barrels per day (bpd),
its Petroleum and Mining Ministry said in October, revising down
a figure of 240,000 bpd it gave in September.
NAIROBI, Oct 27 (Reuters) – Drilling was suspended for a
second day on Sunday at Tullow Oil’s two exploration
blocks in northwest Kenya because of local protests, and a
senior local official called for intervention by the government.
Tullow Oil said late on Saturday it had temporarily
suspended drilling operations on Block 10BB and Block 13T in
northwest Kenya due to security concerns after local residents
held protests demanding more jobs at the sites.
NAIROBI, Oct 26 (Reuters) – Tullow Oil said on
Saturday it had suspended drilling operations on two blocks in
northwest Kenya due to security concerns, after local residents
held protests demanding for more jobs at the sites.
“Tullow confirms that there have been a number of
demonstrations at Tullow operated sites in Northern Kenya today
regarding local concerns around employment,” Tullow said in a
NAIROBI, Oct 17 (Reuters) – Kenya plans to claim a 10
percent stake in large mining concessions under a new bill
intended to give the state a greater share in profits from the
sector, Mining Cabinet Secretary Najib Balala said on Thursday.
Successive governments have had little success in trying to
develop Kenya’s mining potential, with foreign exploration
companies discouraged by poor infrastructure and an outdated
NAIROBI, Oct 11 (Reuters) – Kenya Power plans to
spend 156 billion shillings ($1.83 billion) between now and 2018
to expand its electricity distribution network in order to keep
up with growing demand.
The country suffers from frequent blackouts due to supply
shortfalls and an aging grid, forcing most businesses and
wealthy people to have stand-by generators.