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Tag Archives: CNOOC

Gov’t pushes final investment decision for oil production to September

Kampala, Uganda | THE INDEPENDENT | Government has pushed the Final Investment Decision (FID) for commercial oil production to September 2019. Speaking during the budget presentation on Thursday, Finance and Economics Development Minister, Matia Kasaija said, “Preparation for commercialization of oil and gas resources continued this year. The lead investor for …

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Foreign direct investments rebound

As players in oil and gas sector registers more activity Kampala, Uganda | PATRICIA AKANKWATSA | Foreign direct investment into Uganda rebounded in 2018 owed to positive growth in the economy and the prospective investments in the oil and gas sector. Latest data from the Bank of Uganda shows that …

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Oil delay a blessing in disguise – NPA

Kampala, Uganda | THE INDEPENDENT | The National Planning Authority (NPA) is positive that the delay in Uganda’s oil production is a blessing in disguise. The authority says that the delay will give the country time to prepare and organize its industry. National Planning Authority Executive Director Dr Joseph Muvawala …

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Gov’t, Oil companies yet to agree on tax, recoverable costs

Kampala, Uganda | THE INDEPENDENT | The government and oil companies have failed to reach a consensus on key issues which could potentially create more delays for the Final Investment Decision (FID). The delay is a setback to the planned construction of the pipeline and the refinery. The contentious issues …

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Understanding government, Tullow-Total firm down dispute

Kampala, Uganda | THE INDEPENDENT | An ongoing tax dispute between the Ugandan government and Tullow Oil has led to the postponement of the planned Final Investment Decision for the Albertine oil development project to the second half of 2019. The capital gains tax dispute from Tullow’s farm-down of its stake …

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Gov’t to generate UGX 18bn from new oil licensing round

Kampala, Uganda | THE INDEPENDENT | Government has said the second round of oil licensing will generate more than 18 billion shillings for Uganda. Government recently unveiled five target areas in the Albertine Graben for the second licensing blocks. They include; Avivi, which covers the districts of Obongi, Adjumani, Amuru …

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Gov’t explains oil production delays

Kampala, Uganda | THE INDEPENDENT | Government has explained the repeated changes in the oil production date. Robert Kasekende, the Energy Ministry Permanent Secretary, says the delays have been occasioned by a careful process that is intended to see Ugandans and government benefit fully from the oil resource. He told …

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Tullow selling shares to Total, CNOOC again

Kampala, Uganda | THE INDEPENDENT | Tullow Oil is in the final stages of farming down its stakes in the Lake Albert Graben to its joint venture partners Total and China National Offshore Oil Company (CNOOC). Tullow, Total and CNOOC hold equal stakes of 33.3 percent in the Lake Albert Basin …

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