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Tag Archives: crude oil

Iraq seeks to raise oil production to 8 mln bpd by 2027

Baghdad, Iraq | Xinhua | Iraq seeks to raise its crude oil production to 8 million barrels per day (bpd) by the end of 2027 to fulfil its commitment to export quota within the Organization of the Petroleum Exporting Countries (OPEC), Iraqi Oil Minister Ihsan Abdul-Jabbar Ismail said Sunday. “Iraq is …

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EU unveils plan to ban Russian oil imports

Brussels, Belgium | Xinhua | The European Union (EU) will phase out Russian crude oil within six months and refined products by the end of the year, European Commission President Ursula von der Leyen said Wednesday, announcing the sixth package of sanctions against Russia. “We now propose a ban on Russian …

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USA uneasy as gas prices hit new high

Washington, USA | Xinhua |  The U.S. national average for a gallon of regular gasoline hit 4.009 U.S. dollars on Sunday, the highest since July 2008, according to the American Automobile Association (AAA). The gas prices jumped 41 cents over the past week, following a surge in the oil prices …

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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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