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Tag Archives: crude oil

Gov’t seeks access to proceeds from sale of crude oil

Kampala, Uganda | THE INDEPENDENT | Government seeks to allow the Uganda National Oil Company (UNOC) access to proceeds from the sale of its interests in the crude oil. The proposal is contained in the Public Finance Management (Amendment), Bill 2021 that was tabled by the Minister of State for Finance, Planning …

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Crude oil pipeline affected persons demand revaluation of assets

Lwengo, Uganda |  THE INDEPENDENT | Persons affected by proposed East African Crude Oil Pipeline Project in Rakai, Lwengo and Gomba districts are demanding for revaluation of their assets before they are razed to open the route for the project.  The 1,443 kilometres oil export pipeline will transport crude oil from …

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Oil Pipeline: Residents return to earmarked land

Lwengo, Uganda| AFP |  THE INDEPENDENT |  Several residents affected by the East African Crude Oil Pipeline (EACOP) project in Lwengo Town Council, Lwengo rural and Ndagwe sub-county have lost patience and returned to the demarcated areas to cultivate crops. The decision partly stems from the delayed compensation of the affected …

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Nigeria oil industry scrambles as price fall slams economy

Lagos, Nigeria | AFP |  The collapse in oil prices linked to the coronavirus crisis has seen Nigeria’s revenues from crude dry up and left Africa’s largest economy more threatened than ever by its dependence on black gold. The crude market may have rebounded in recent days to more than $30 …

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Nigeria targets oil companies for a greater share of profits

Lagos, Nigeria | AFP | In a move Nigeria’s president hailed as a “landmark moment”, Africa’s largest oil producer approved legislation this week to bolster its share of revenues from international majors. The authorities say the amendment — heralded as the biggest change in decades to its production sharing deals — will …

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Hoima-Tanga oil pipeline deal done, agreement signed

Ugandan ministers have today signed the East African Crude Oil Pipeline Inter-Governmental Agreement (EACOPIGA) after leaders of the two nation’s agreed last week that  all is set for construction to start. “This signing is landmark occasion after several months of negotiations,” said Ministry of Energy Permanent Secretary Stephen Isebalij, adding “the pipeline …

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