Tag Archives: oil

Lisbon, Portugal | Xinhua | The Portuguese Council of Ministers announced on Friday a measure to halve the price of gas used for electricity production for both domestic and industrial consumers, who have been severely affected by this year’s electricity price inflation. The mechanism adopted by Portugal after negotiation with …

Kampala, Uganda | THE INDEPENDENT | Uganda and Tanzania have signed a Memorandum of Understanding on cooperation in defense and security for the East African Crude Oil Pipeline – EACOP project. The deal was signed on Friday at the climax of a three-day the 1st Inter-governmental Security Committee Meeting held at …

Juba, South Sudan | Xinhua | South Sudan said Friday it has kicked off plans to nationalize the country’s oil industry in the next five years. Awou Daniel Chuang, Undersecretary in the Ministry of Petroleum told journalists in Juba, the capital of South Sudan, that the ministry has started the process …

Sanctions by the United States and its allies against Russia have worsened food inflation across the African continent Addis Ababa, Ethiopia | Xinhua | The impact of the Russia-Ukraine conflict is felt internationally, but it affects wheat and oil importing African countries worst, a business leader has said. “The Russia-Ukraine conflict …

  COMMENT | JAMES BYARUHANGA | On February 2, 2022, Uganda made a very significant step towards realising its first oil fortunes. We witnessed the announcement of the Final Investment Decision (FID) for Uganda’s oil and gas Projects by the Total Energies EP Uganda, CNOOC Uganda Limited, the Uganda National …

Moscow, Russia | Xinhua | Russian President Vladimir Putin underscored the importance of diversifying energy exports as supplies in the western direction will be reduced in the foreseeable future. “Therefore, it is important to consolidate the trend of recent years: step by step, reorient our exports to the fast-growing markets of …

Kampala, Uganda | THE INDEPENDENT | Investors in the Oil and Gas related business are crying foul over the attitude of Uganda commercial banks towards them when they approach them to finance their projects. The local investors, who are mainly Tier 2 and 3 contractors in the industry, say most …

Kampala, Uganda | THE INDEPENDENT | Contractors have been tipped on how to prepare and take up opportunities in the Oil and Gas sector. This was during the Uganda National Association of Building and Civil Engineering Contractors (UNABCEC) CEO Breakfast meeting at Hotel Africana  under the theme Contractors Readiness to …

Budapest, Hungary | Xinhua | Payment in rubles for Russian gas is not a violation of European Union sanctions, Hungarian government spokesperson Zoltan Kovacs said on Saturday. “The EU so far has no common procurement of gas and oil for European countries. So as we speak, we still go by …

  COMMENT | TOM JOSEPH MUKASA | Following the full opening of our economy, one can now say, ‘the year started on a good note.’ But even better is the blessing of the Final Investment Decision (FID) by crucial players TotalEnergies, CNOOC, UNOC and TPDC in our oil and gas …