Tag Archives: oil

  THIS WEEK: Shs 72trillion needed for investment in Uganda’s oil Kampala, Uganda | THE INDEPENDENT | Uganda will need about Shs72 trillion for investment in its development phase after transitioning from exploration. Ernest Rubondo, the executive director of Petroleum Authority of Uganda said the investment is expected to spur jobs, …

  INTERVIEW: Kodey Rao is the managing director of Bidco Uganda Limited, the producer of edible oil.  He spoke to The Independent’s Isaac Khisa about the country’s edible oil industry and the future outlook. What is the assessment of edible oil consumption in the country at the moment? Edible oil …

Abuja, Nigeria | AFP | Nigeria’s state-run oil firm on Monday hit back at claims of corruption from a senior government minister that have put President Muhammadu Buhari’s war on graft in the spotlight. The Nigerian National Petroleum Corporation (NNPC) said the allegations made by junior oil minister Emmanuel Ibe Kachikwu …

Lagos, Nigeria | AFP | A leaked memo from Nigeria’s minister of state for oil has shown that irregularities in the state-owned oil giant remain entrenched, despite official vows to root out the “cancer” of graft. Emmanuel Ibe Kachikwu wrote to President Muhammadu Buhari to report on questionable practices in the …

Beijing, China | AFP | China will limit exports of refined petroleum products to North Korea starting October 1, its commerce ministry said, confirming Beijing’s participation in new UN sanctions intended to rein in its rogue neighbour. The United Nations Security Council, including permanent member Beijing, approved tough sanctions against Pyongyang …

Hamburg, Germany | AFP | An international maritime tribunal Saturday backed Ghana in a dispute with Ivory Coast over a contested boundary that cuts through lucrative offshore oil fields. The International Tribunal for the Law of the Sea found that “Ghana did not violate the sovereign rights” of Ivory Coast by …

Juba, South Sudan | AFP |  An outbreak of fighting between government and rebel forces in South Sudan’s oil-producing north left at least 25 people dead, a state official said Tuesday. The clash between rebels loyal to exiled former deputy president Riek Machar and government forces occurred early Monday in …

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. …