Tag Archives: oil

VIDEO: Lands Minister Betty Amongi has warned that the increasing land wrangles in the oil rich Hoima district might scare away potential investors in the Albertine region. Her warning follows the increasing cases of land disputes where powerful individuals are allegedly illegally evicting locals without any compensation. The minister is pointing …

Washington, United States | AFP |  US President Barack Obama on Friday declared portions of the Arctic off-limits for oil exploration for the next five years, dealing a blow to Republican efforts to expand fossil fuel extraction. The decision means new oil and gas exploration leasing in the Chukchi Sea …

Maputo, Mozambique | AFP |  At least 73 people were killed and 110 others injured Thursday when a truck carrying petrol blew up in western Mozambique near Malawi, the government said in a statement. “The incident occurred when citizens tried to take petrol from a truck” in the village of …

Tehran, Iran | AFP | Iran signed a deal with France’s Total on Tuesday to develop a major offshore gas field, its first big contract with a Western energy firm since sanctions were loosened in January. Total will lead a consortium also including China National Petroleum Corporation (CNPC) and Iran’s …

Algiers, Algeria | AFP |  Algeria’s state energy company Sonatrach on Sunday awarded the China Petroleum Engineering and Construction Corporation (CPECC) a 380-million-euro ($420-million) contract to renovate its Algiers refinery. CPECC, which is affiliated to the China National Petroleum Corporation, will rehabilitate the refinery after Sonatrach severed an initial deal …

Luanda, Angola | AFP | Angolan state-owned oil company Sonangol rode the commodities boom that drove the country’s extraordinary growth after civil war ended in 2002, but today it symbolises a national economic crisis. The Luanda-based company has increasingly been in focus since Isabel dos Santos, the billionaire daughter of …

Less than three months since it launched formal operations, the Uganda National Oil Company has received Africa wide recognition after winning the best National Oil Company (NOC) presentation at a recent Oil and Gas forum held in South Africa. The event was organised by Standard Bank. The conference was held …

Lagos, Nigeria | AFP |  US oil and gas group ExxonMobil says it has discovered up to one billion barrels of oil in an offshore field in Nigeria, signalling a boost to the country’s crude reserves. The company said in a statement on its website on Thursday that the Owowo …

Lagos, Nigeria | AFP | Nigeria’s currency scarcity remains a nightmare that won’t go away, with even Africa’s richest man Aliko Dangote feeling the pain. The West African country’s economy has been hammered by the global crash in oil prices — worth 70 per cent of its revenue and the …

Luanda, Angola | AFP |  A group of Angolan lawyers has filed a landmark petition challenging veteran leader Eduardo dos Santos’s nomination of his daughter, Africa’s richest woman, as the head of the national oil company. Isabel dos Santos was named head of troubled oil firm Sonangol in June in …