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Business news - 24 February 2012

 

New tendering process for Mombasa-Nairobi pipeline

Under unclear circumstances over what happened to the initial tender, the Kenya Pipeline Company has embarked on a fresh tendering process for replacement of the aged Mombasa-Nairobi pipeline.

 

Austin exploration raising funds for new shale exploration programme

Austin Exploration Ltd has resolved to raise up to approximately $20 million to fund a new drilling campaign in the Eagleford and Niobarra shale areas. The company plans to raise the funds through a share placement and a shareholder share purchase plan.

 

AFPM criticise energy tax

American Fuel and Petrochemical Manufactures has criticised President Obamaº£½Ç³Ô¹ÏÍø™s proposed energy tax increases.

 

API comment on energy security

The American Petroleum Institute has called the Presidentº£½Ç³Ô¹ÏÍø™s approach to energy security a Jekyll and Hyde approach and says it hurts consumers.