Billionaire Dan Gertler is looking for partners to develop oil blocks in the Democratic Republic of Congo after seismic studies revealed “a lot” of oil, the director of Gertler’s Oil of DR Congo sprl said.
Kenya is headed to become the first oil exporter in East Africa, moving in less than five years from being a have-not nation to the regional leader in cutting reliance on energy suppliers such as Royal Dutch Shell Plc.
Uganda will begin production tests at its Lake Albert oil fields in September, part of a longer-range program aimed at building a refinery that will begin operating within three years, the Energy Ministry said.
Caprikat Ltd. and Foxwhelp Ltd. have restarted exploration of oil blocks along Lake Albert in Democratic Republic of Congo after a court last week rescinded an injunction won by Tullow Oil Plc in September.
-- Tullow Oil Plc , the U.K. explorer with the most licenses in Africa, dropped in London trading after the New Vision newspaper reported that Uganda canceled one of its exploration licenses in Lake Albert.