How a Family Network Allegedly Siphoned KSh 22 Million From National Oil Firm
Prosecutors have charged a former National Oil Corporation of Kenya (NOCK) employee, her husband, and an associate over an alleged KSh 22.15 million fraud.
Libya's Energy Sector is Recovering
Libya’s oil production reached an average of 1.375 million barrels per day (bpd) in 2025 and the government aims to reach 2 million bpd by 2030
AfDB Approves US$16.5mn Loan for Menengai Geothermal Plant
AfDB approved a US$16.5 million loan to support construction of a new 35-megawatt power plant at the Menengai geothermal field near NakuruKenGen Seeks Shareholder Approval for Board and Governance Reforms
Kenya Electricity Generating Company has called a February 12 extraordinary general meeting to seek shareholder approval for governance reforms covering board composition, director tenure, and appointment rules. The proposals amend the Articles of Association, allow virtual voting, and aim to clarify state and minority shareholder roles. The move follows a similar notice by Kenya Reinsurance Corporation, signalling a broader push to reset governance at listed state-owned firms.
Court Blocks Hashi Energy’s Evidence in KSh7.2bn Tax Fight
The High Court has rejected a last-minute attempt by Hashi Energy, now under liquidation, to introduce fresh evidence in a KSh 7.18 billion tax appealKenya Pipeline's KSh 106.3Bn Privatization to Support National Budget
The Kenyan government plans to raise KSh 106.3 billion from the sale of a 65% stake in Kenya Pipeline Company, positioning the IPO as a key source of non-debt financing for the FY2025/26 budget. The proceeds will accrue to the National Treasury as Kenya faces a projected budget deficit of about KSh 923 billion, delayed IMF support, and rising borrowing needs. The transaction forms part of a broader shift toward asset sales to support development spending while containing debt growth.Kenya Pipeline IPO Prices At KSh 9 per Share, Valuing State Fuel Transporter At KSh 163.6 Billion
Kenya Pipeline Company has priced its IPO at KSh 9.00 per share, implying an equity valuation of about KSh 163.6 billion ahead of its planned NSE listing in March. The pricing is anchored on an earnings-based approach, using an implied EV/EBITDA multiple of 8.1x applied to FY2025 EBITDA of KSh 18.59 billion, translating to an enterprise value of about KSh 150.6 billion. The government is selling a 65% stake, with gross proceeds of roughly KSh 106.3 billion accruing to the National TreasuryFuel Price Cuts Offer Some Relief to Motorists, Households
Kenya's energy regulator has announced price cuts for Super Petrol, Diesel and Kerosene by KSh2.00, KSh1.00 and KSh1.00 per litre respectively,Africa’s Upstream Momentum Building Up, but Investment Discipline Remains Elusive
As encouraging as the upstream outlook is, Africa’s geology remains complex, and that complexity can shape how and where companies invest.
Parliament's Tight Deadline to Approve Turkana Oil Plan
Parliament is racing against a February 24th deadline to review the South Lokichar Basin’s oil development plan, a high-stakes project that could unlock hundreds of millions of barrels of recoverable crude oil.Ghana Settles US$1.5bn in Energy Sector Debts
The Government of Ghana settled a total of US$1.47bn in energy sector debts which it said posed "one of the gravest risks to Ghana’s financial stability."Afreximbank to Fund Levene Energy's Acquisition of a Minority Stake in Nigeria's Axxela Limited
The US$64mn facility will support Levene Energy's acquisition of a 30% equity stake in Axxela Limited, one of West Africa’s leading gas and power infrastructure companies.
