Tag Archives: oil

Accra, Ghana | AFP | Norway’s Aker Energy on Thursday said it had discovered oil in commercial quantities off Ghana, which the government welcomed as a potential boost to the economy. The oil and gas operator said exploratory drilling indicated an “estimated 450-550 million barrels of oil equivalent (mmboe)” in the Pecan field, 166 kilometres …

Kampala, Uganda | THE INDEPENDENT | An influx of businessmen and investors in oil related activities has pushed up the demand for accommodation in the Albertine Graben. The area is now attracting more investments from companies and individuals seeking to tap into the Oil and Gas industry. Investors from both within …

Kampala, Uganda | THE INDEPENDENT | The Petroleum Authority of Uganda (PAU) has approved US$483 million, equivalent to 1.7 trillion Shillings as recoverable costs by five oil companies. The companies are Tullow, Total, China National Offshore Oil Company (CNOOC), Armour Energy and Oranto. According to Ernest Rubondo, the Chief Executive of …

Paris, France | AFP | A French court on Friday fined oil giant Total 500,000 euros ($575,000) for corruption over bribes it paid to secure a huge gas concession in Iran in 1997. The French company was accused of paying $30 million in bribes in return for help in securing …

Kampala, Uganda | THE INDEPENDENT | The planned construction of the Kampala Oil Terminal has suffered a setback as a result of a fresh land conflict pitting the government against one Gideon Kabuye Kirumira. The land, measuring 299 acres in Kiringente Sub County, Mpigi district, was identified in 2007 as a …

Kampala, Uganda | THE INDEPENDENT | The amount of crude oil so far discovered is six billion barrels, down from 6.5 billion barrels, the Uganda government has announced. Of the six billion barrels, the amount recoverable has also been put at 1.4 billion barrels, down from the initial range of between …

London, United Kingdom | AFP | The Nigerian government is taking oil giants Shell and Eni to court in London, requesting the return of $1.1 billion (969 million euros) as part of a case of alleged corruption dating back to 2011, Bloomberg reported on Thursday. Nigeria alleges that the money …

Vienna, Austria | AFP | OPEC members and 10 other oil producing nations, including Russia, agreed Friday to cut output by 1.2 million barrels a day in a bid to reverse falls in prices in recent months. Energy ministers reached the deal — which takes effect from January 1 but …

New York, United States | AFP | Hong Kong’s former home affairs secretary Patrick Ho Chi Ping was convicted by a New York court Wednesday over a multimillion dollar bribery scheme in Africa on behalf of a top Chinese energy company. Ho, 69, was convicted by a jury of seven …

Abuja, Nigeria | AFP |  Nigeria’s main anti-corruption agency on Monday filed for the arrest of former oil minister Diezani Alison-Madueke after a judge approved a request for her to be charged with corruption. The Economic and Financial Crimes Commission (EFCC) said in a statement the application for warrant of …