Tag Archives: oil

Setting up an oil refinery remains a big headache for the country’s oil and gas resources Optimism is the mood as the countdown to Uganda’s first oil continues and pressure mounts on the government to put in place critical infrastructure necessary for oil production in four years. “The government should …

Uganda Revenue Authority has explained the circumstances under which several government officials were rewarded for helping win the 2014 capital gains tax case against UK based oil company Heritage. “It is standard international best practice for employees to receive bonus payments/ or honoraria for exemplary performance in both the public …

VIDEO: Legislators have condemned a reward of sh7 billion of oil money given to senior government officials after they won an oil tax case against Heritage Oil.  The legislators under a loose coalition dubbed; “NRM Members of Parliament Think-tank”want the Speaker of Parliament Rebecca Kadaga to cause an investigation into …

Luanda, Angola | AFP |  Angolan President Jose Eduardo dos Santos’s daughter, reportedly Africa’s richest woman, has been cleared to head the national oil company Sonangol, after a court rejected a legal challenge. Isabel dos Santos was put in charge of Sonangol in June in a move some analysts said …

Following the withdraw of the Russian-led consortium RT Global Resources, from the oil refinery construction in July, the government is looking for a new investor to partner in the project by mid-2017 This year marked a decade since the government announced the discovery of commercially viable oil and gas resources …

Vienna, Austria | AFP | Eleven countries agreed on Saturday to cut their oil output, teaming up with the OPEC cartel in an exceptional bid to end the world’s glut of crude and reverse a dramatic fall in income. Russia and 10 other non-OPEC states will reduce their production by …

Lagos, Nigeria | AFP | Nigeria and Morocco are in talks over a huge project to extend a West African gas pipeline to stretch up towards Europe, officials say. Nigerian Foreign Minister Geoffrey Onyeama said in a government video posted on Twitter on Friday that the pipeline would “go along …

Singapore, Singapore | AFP | Oil prices resumed their rise Thursday and held above the $50 barrier following OPEC’s decision to carry out its first output cut in eight years. The Organization of the Petroleum Exporting Countries at a meeting in Vienna on Wednesday agreed on specific targets to enact …

Warri, Nigeria | AFP |  Nigerian militants on Sunday blew up a state-run pipeline in the restive oil producing south, in the latest act of sabotage aimed against the strategic sector, a local official said. “The pipeline popularly known as the Abura line was bombed at about 7:30 am on …

VIDEO:President Yoweri Museveni has moved to end anxiety over the exploitation of the country’s oil and gas resource. Museveni told experts and investors earlier today that revenue from Uganda’s oil will only be used for capital expenditure. He called for more emphasis to be put on the development of other …