Tag Archives: oil

Uganda Government issues Kanywataba petroleum exploration license to Armour Energy Limited Kampala, Uganda  | JULIUS BUSINGE | Uganda has handed over the petroleum exploration license in the Kanywataba block in the Albertine area to an Australian company – Armour Energy Limited. Speaking at a press conference at the Ministry of Energy offices in Kampala …

Algiers, Algeria | AFP |  Venezuelan President Nicolas Maduro visited fellow OPEC member Algeria Monday for talks after announcing Caracas would sell crude oil in non-dollar currencies in a bid to resist US sanctions. Maduro arrived late Sunday in the North African country and met Senate speaker Abdelkader Bensalah on …

Norway’s wealth fund – a jumbo piggy bank to be used prudently Oslo, Norway | AFP |  Norway has the world’s largest sovereign wealth fund — a treasure chest nearly $1 trillion (830 billion euros) to be set aside for rainy days but also to help fund today’s election promises. …

Caracas, Venezuela | AFP | Venezuelan President Nicolas Maduro announced Friday his government will sell oil and other commodities in currencies other than the dollar, in a bid to weather US-imposed sanctions on the embattled country. “I have decided to start selling oil, gas, gold and all other products that Venezuela …

Port Harcourt, Nigeria | AFP | Gunmen kidnapped 19 bus passengers near Nigeria’s southern oil hub, Port Harcourt, police said on Friday, in the latest of a series of abductions in recent weeks. Rivers state police spokesman Nnamdi Omoni said the attack happened on Thursday and that police had so far …

Mexico City, Mexico | AFP |  Royal Dutch Shell said Wednesday it would invest $1 billion in Mexico over the next decade, after the oil giant opened its first retail gas station in the country. The investment in the world’s fifth-biggest consumer of gasoline depends on market conditions continuing to …

Caracas, Venezuela | AFP | After decades of being Venezuela’s cash cow, the state oil company PDVSA is a ragged shadow of its former self: overburdened, underfed, and in hock to Russian and Chinese creditors. The woes of the group, whose full name is Petroleos de Venezuela S.A., look set to …

Paris, France | AFP | French oil giant Total said Monday it has agreed to sell its remaining stake in a Norwegian oil field to Kuwait so that it can focus on its recent acquisition of Denmark’s Maersk Oil. “Total has signed an agreement to divest its remaining 15-percent interest in …

IN THE INDEPENDENT: Why Museveni fired Isabalija TOP stories in this week’s THE INDEPEDENT LAW From Kavuma to Owiny-Dollo: What next as Museveni’s cadre judges win? THE LAST WORD Museveni’s dilemma, Africa’s crisis : How the obsession with our internal weaknesses has obscured the international dimension of Africa’s problems. COVER …

Malabo, Equatorial Guinea | AFP |  Equatorial Guinea said Monday it has demanded 73 million euros from French oil giant Total over “fraud” in fuel sales made between 2010 and 2012. “Following an investigation, we found a suspicious and fraudulent situation,” said Finance Minister Miguel Egonga Obiang as he announced …