Tag Archives: oil

  Kampala, Uganda | RONALD MUSOKE | Chinese oil firm, CNOOC, has chosen not to pre-empt Tullow Oil’s sale of its assets in Uganda to Total according to a statement published on May 28 on Tullow’s website. “Tullow Oil plc announces that CNOOC Uganda Limited (CNOOC) has informed both Tullow …

London, United Kingdom | AFP |  French oil trader Pierre Andurand was catapulted into the spotlight this year after correctly betting that the deadly novel coronavirus would spark a sub-zero oil market collapse. Andurand, the 43-year-old founder of London-based Andurand Capital who runs two multi-million-dollar funds, bet in February that the …

The President has revealed three things about Uganda’s oil sector that are depressing and illuminating THE LAST WORD | ANDREW M. MWENDA | In his interview with NBS television aired on May 11, President Yoweri Museveni revealed three things about Uganda’s oil sector that were depressing and illuminating. First he …

Van Horn, United States | AFP |  For the companies that drill the highest-producing deposit of oil and natural gas in the world, straddling the border between Texas and New Mexico, the crash in oil prices has led to spectacular losses. Craig Blair, the co-owner of the Capitan Energy oil and …

COMMENT | Lamunu Petronilla |  The COVID-19 pandemic struck at a time when the Government of Uganda had made notable strides in the development of the oil and gas sector. These include establishment and the operationalization of key institutions like the Petroleum Authority of Uganda (PAU) and the Uganda National Oil …

Kampala, Uganda | THE INDEPENDENT | A deal in which Irish firm Tullow Oil sold all its interests in the Lake Albert oil project to France’s Total E&P has been hailed as a win for the country and all stakeholders involved. African Energy Chamber, a think tank on oil and …

COMMENT | Joseph Mukasa Ngubwagye | On the 23rd of April 2020, media was awash with the news of the transfer of Tullow’s interests in the Uganda Lake Albert Project to Total E&P Uganda B.V. Total will acquire all of Tullow’s current 33.3334% stake in each of the project licenses …

Dr. Mary Goretti Kitutu, the Minister of Energy and Mineral Development noted in a short statement released yesterday that:  “The agreement is a significant milestone in Uganda’s oil and gas sector and is a critical development that takes the sector towards the final investment decision (FID) that the country is …

  Kampala, Uganda | RONALD MUSOKE | French oil super major, Total, will take over Tullow’s assets in Uganda’s Lake Albert Development project including the stake in the East Africa Crude Oil Pipeline following the recent conclusion of a sale and purchase agreement with the British oil firm. According to …

Hong Kong, China | AFP |  Oil resumed its painful retreat Wednesday, extending a rout that has torn through energy markets, though stock exchanges in Asia and Europe were mixed following a two-day sell-off. With demand virtually non-existent owing to virus lockdowns, and production still high despite storage at bursting point, …