Tag Archives: oil

COMMENT | Joseph Mukasa Ngubwagye |  Preparations to start the construction of the East African Crude Oil Pipeline (EACOP), the world’s longest heated pipeline, are in high gear. The all-important tripartite agreements between the project developers and the governments of Uganda and Tanzania were signed in the first half of …

Oil, agriculture and BoU to determine the recovery path, executives say Kampala, Uganda | THE INDEPENDENT | Economic recovery in the coming years will largely depend on oil and gas, agriculture and Bank of Uganda’s monetary policy decisions, according to Absa Bank Uganda executives. Speaking via a recent virtual conference …

Kampala, Uganda | THE INDEPENDENT | There is anger and frustration among a section of persons affected by the impending construction of the East African Crude Oil Pipeline-EACOP, as the project implementers move to secure land in Kyotera and Rakia districts. The aggrieved include 21 households that will be physically displaced as …

Kampala, Uganda | THE INDEPENDENT | Uganda is expected to produce oil and gas by the end of 2025. While it is hoped oil and gas will be a game-changer for the economy, some say it may be a risky bet by countries like Uganda that are about to extract their …

  Tehran, Iran | Xinhua | Iran will increase its oil production to pre-sanctions level “as soon as possible,” the country’s Minister of Oil Bijan Zanganeh said Friday, official news agency IRNA reported. “Whenever the sanctions are lifted, we will return to the market in the shortest possible time and …

Stanbic defies energy transition, promises to finance oil and gas developments Kampala, Uganda | THE INDEPENDENT | Stanbic Bank says it will give capital for oil and gas developments in Uganda. The bank’s stand comes amidst growing opposition against fossil fuels including oil and gas in favor of renewable energy. …

Kampala, Uganda | THE INDEPENDENT | Total E&P Uganda says it expects the first oil to be out of Uganda’s Albertine graben within 43 months effective from mid-May this year. Total Energies Uganda upstream project representative, Edirisa Kwizera is hopeful that unlike the past, the timeline to Uganda’s first oil will …

Hoima, Uganda | THE INDEPENDENT | The Energy Ministry has drawn a new roadmap for the second competitive oil bidding round for five blocks in the Albertine region. The five oil blocks along its western border with Congo and parts of the West Nile region have been on offer since …

Baghdad, Iraq | XINHUA |  Iraq’s Ministry of Oil said on Tuesday that the country exported 89.88 million barrels of crude oil in May, bringing in revenues of about 5.88 billion U.S. dollars. The average selling price for crude oil last month was 65.45 dollars per barrel, according to a …

Policy, righting wrongs and circumventing curses as oil presents huge opportunities and significant risks COMMENT | DENNIS JJUUKO | Uganda has signed a pipeline deal with Tanzania and Total to transport crude oil from Uganda’s Albertine region to Tanzania’s Tanga port for refining, but the secrecy that surrounds this $3.5 …