Tag Archives: oil

As she juggles the two projects of her life; the construction of Uganda’s first ever oil refinery and the joint venture with international oil companies to construct the country’s first ever oil pipeline, Energy Minister Irene Muloni is working around some tough deadlines. The one that appears to be cast …

Riyadh, Saudi Arabia | AFP |  Saudi Arabia is committed to stabilising the global oil market, the energy ministry of the world’s biggest oil exporter said on Tuesday, as prices fell below $48 a barrel. OPEC and non-OPEC countries last year pledged to reduce output by around 1.8 million barrels …

Jean – Philippe Bittencourt, is the general manager for Sheraton Kampala Hotel. He spoke to The Independent’s Julius Businge on the prospects of Uganda’s hotel industry. How would you describe the 50 years journey of Sheraton Kampala Hotel? It is a landmark in our lives and we will continue to …

Lagos, Nigeria | AFP |  Nigeria’s southern oil-rich Rivers state on Saturday backed a government call for major oil companies to move their offices to the Niger delta region, as part of measures to stem unrest in the oil-rich area. Attacks by rebels seeking a fairer share of Nigeria’s multi-billion-dollar …

New York, United States | AFP | Oil prices slumped to their lowest level of 2017 Wednesday following a bearish US supply report that also dented American petroleum-linked shares. The US oil benchmark, West Texas Intermediate, slid more than five percent to $50.28 a barrel, its lowest price since December. …

Riyadh, Saudi Arabia | AFP |  Seventeen years after first setting foot in Saudi Arabia, Dominic Steck shipped his two cats and returned to Germany with his wife and school-age children, who hardly know their homeland. As Saudi Arabia steps up efforts to employ more of its own people, and …

President Yoweri Museveni is in Dar es Salaam to inspect improvements on Tanzania’s main port so that it can be used as an option for Uganda’s exports and imports. According to Augustine Mahiga, the Tanzania Minister for Foreign Affairs,  Museveni’s visit to the Dar es Salaam port was to encourage Ugandan businessmen to …

London, United Kingdom | AFP |  Russia’s Rosneft oil giant has paved the way for investment in Libya’s oil sector by signing a Cooperation Framework Agreement with the National Oil Corporation of Libya, it was announced Tuesday. The agreement was signed Monday on the sidelines of London’s International Petroleum Week …

Lagos, Nigeria | AFP |  A court on Thursday ordered $153.3 million allegedly diverted by Nigeria’s former oil minister Diezani Alison-Madueke from the state-run oil firm to be handed over to the government. Judge Muslim Hassan, sitting at the federal high court in Lagos, made the forfeiture order in the …

Lagos, Nigeria | AFP | A former head of Nigeria’s state-run oil company is under investigation after almost $10 million in cash was found at a property he owns. The Economic and Financial Crimes Commission (EFCC), an anti-corruption agency, said it had seized $9.8 million (9.2 million euros) from a …