Tag Archives: oil

Buenos Aires, Argentina | AFP | The United States said Sunday it has not ruled out sanctions on Venezuelan oil as it turns the screw on President Nicolas Maduro, but is wary of hurting the country’s people. Secretary of State Rex Tillerson is in Argentina as he tours Latin American to …

Uganda is becoming more appealing destination for investors from the East African Community (EAC) Kampala, Uganda | JIMMY SIYA | From the time the Uganda government announced that it will be constructing an oil pipeline, Kenyan logistic companies have shown interest in moving into the country to tap from the …

Lagos, Nigeria | AFP | A gigantic oil tanker arrived in Nigeria as part of a multi-billion dollar project that should allow one of Africa’s biggest crude producers to pump out an additional 200,000 barrels a day. The floating production storage and offloading vessel is docked in Lagos after spending …

Paris, France | AFP | The United States are set to overtake Saudi Arabia as the world’s number two oil producer after Russia this year, as shale companies, attracted by rising prices, ramp up drilling, the International Energy Agency said on Friday. “This year promises to be a record-setting one …

UGANDA: $20 billion up for grabs Kampala, Uganda | HAGGAI MATSIKO | Ernest Rubondo, the Executive Director, Petroleum Authority of Uganda (PAU), is optimistic 2018 will be big for Uganda’s oil industry. “The sector will be felt in 2018,” he told The Independent in an interview at his offices at …

Luanda, Angola | AFP | Angola has suffered a week of fuel shortages, a bitter irony for one of Africa’s leading oil producers, and a hardship that some people blame on opponents of President Joao Lourenco. The majority of petrol stations in the capital Luanda have had long lines of motorists …

Lagos, Nigeria | AFP | Nigeria’s opposition has rejected a plan to spend a billion dollars of oil money to fight the Boko Haram insurgency in the country’s volatile northeast. Last week, the governor of the southern state of Edo, Godwin Obaseki, told reporters the federal government had been given …

More storage facilities in offing as private players increase storage capacity to match the growing demand Kampala, Uganda | JULIUS BUSINGE | With the current expansion of Uganda’s industry and manufacturing, transport, and services sectors in addition to a rapidly growing population,which are key consumers of petroleum products, one key question …

Why inflation and monetary-policy adjustments by central banks might not impact its price COMMENT | JIM O’NEIL | Writing about oil prices is always risky. In a January 2015, I suggested that oil prices would not continue to fall, and even predicted that they would “finish the year higher than they …

French domination sparks fight with Chinese   Kampala, Uganda | HAGGAI MATSIKO | Oil companies—Total E&P, Tullow Oil and CNOOC—are locked in a bitter fight for control of Uganda’s oil sector.  The coveted prizes are deals worth about $20 billion. The three entered a partnership in 2012 when Tullow Oil, which …