Tag Archives: oil

Why EACOP Hoima-Tanga oil pipeline pact is a landmark for Uganda and Tanzania Kampala, Uganda | UG MIN EMD |  The Governments of Uganda and of Tanzania have today signed the Inter Governmental Agreement (IGA) for the East African Crude Oil Pipeline (EACOP) Project. The IGA was signed by Uganda’s Eng. …

Ugandan ministers have today signed the East African Crude Oil Pipeline Inter-Governmental Agreement (EACOPIGA) after leaders of the two nation’s agreed last week that  all is set for construction to start. “This signing is landmark occasion after several months of negotiations,” said Ministry of Energy Permanent Secretary Stephen Isebalij, adding “the pipeline …

Australia| FINANCIAL REVIEW| No more petrol or diesel cars, buses, or trucks will be sold anywhere in the world within eight years. The entire market for land transport will switch to electrification, leading to a collapse of oil prices and the demise of the petroleum industry as we have known …

  Push for regional logistics hub status is `selfish’ says Museveni Uganda is grappling with a logistical nightmare of importing tonnes of machinery for its nascent oil industry but, in a classic move of seizing opportunity in a crisis, operators are seeking to turn the country into an East African …

Presidents Yoweri Museveni and John Pombe Magufuli have signed a pact expressing their intent to go ahead with the construction of a oil pipeline from Uganda to Tanzania. The two leaders on Sunday signed a communique agreeing to start construction of the East African Crude Oil pipeline (EACOP) project that is …

  Nigerian economy glimpses dim light at end of tunnel Lagos, Nigeria | AFP |  Suffering from rampant inflation, stalled investment and mass layoffs, Nigeria is still gripped by one of the worst economic crises in its history. But for the first time in months, the West African economic giant …

Abuja, Nigeria | AFP |  Italian oil group Eni’s Nigerian subsidiary Agip is planning a 150,000-barrel per day refinery as part of efforts to reduce imports, junior oil minister Emmanuel Ibe Kachikwu said. Kachikwu met representatives from Eni and said agreement had been reached to build the facility in the …

Kampala, Uganda | PWATCHUG| For­mer En­ergy Min­is­ter, Syda Bbumba has feigned ig­no­rance of the con­tent in an oil pro­duc­tion shar­ing agree­ment that led to a $157 mil­lion tax waiver to Tul­low Oil Com­pany. Bbumba is in the eye of the storm af­ter Pres­i­dent Yow­eri Mu­sev­eni, while meet­ing leg­is­la­tors on the …

President Yoweri Museveni sought to deflect the blame and criticism aimed at him over a cash bonus given out to government officials who played a part in Uganda’s victory in international arbitration against oil companies. In a closed door session at State House Entebbe with parliamentary probe committee on the …

Palma, Mozambique | AFP |  The small, palm-fringed fishing town of Palma was meant to become a symbol of Mozambique’s glittering future, transformed by one of the world’s largest liquefied natural gas projects. But construction has fallen far behind schedule and the town’s fate is uncertain after gas prices fell …