Tag Archives: crude oil

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 …

Planned increases by the OPEC+ countries are sufficient to address any shortages that may occur in the crude oil supplies to the world markets Baghdad, Iraq | Xinhua | Iraq said on Wednesday that its crude oil exports are in line with the consumption in the world oil market, ruling out …

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 …

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 …

Washington, U.S. | Xinhua | The Biden administration is releasing 1.5 million barrels of crude oil from America’s Strategic Petroleum Reserve (SPR) to address fuel shortages caused by Hurricane Ida. “The Department of Energy has authorized the Strategic Petroleum Reserve to conduct an exchange of 1.5 million barrels of crude oil …

Kampala, Uganda | THE INDEPENDENT |  The partners in the oil and gas industry in Uganda intend to supply solar energy to power the East African Crude Oil Pipeline in transporting crude from Hoima in western Uganda to Tanzania’s Tanga Port. The energy will be used at the six pump stations …

Kampala, Uganda | THE INDEPENDENT  |  The Ministry of Energy and Mineral Development has reiterated that no construction project in the oil and gas industry will take place until all affected persons have been compensated or resettled.  This comes after the governments of Uganda and Tanzania and the oil and gas …

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 …

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 …

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 …