New York, United States | AFP | Oil prices ended New York trading in the negative on Monday for the first time ever, as a supply glut forced traders to pay others to take the commodity. With space to store oil scarce, US benchmark West Texas Intermediate for May delivery ended …
Read More »World oil prices claw back ground after crash
Singapore, Singapore | AFP | Oil prices surged more than six percent in Asian trade Tuesday following heavy losses a day earlier after top exporter Saudi Arabia began a price war with Russia. West Texas Intermediate was trading up 6.1 percent at more than $33 a barrel while Brent crude …
Read More »130 firms certified to provide services in energy sector
ERA CEO says they must up their game on standards, safety and human resource Kampala, Uganda | JULIUS BUSINGE | At least 130 firms have been cleared to provide services in the energy sector following approval from the industry regulator, Electricity Regulatory Authority. This means that the firms will now …
Read More »China virus threatens to hobble Gulf economies
Dubai, United Arab Emirates | AFP | The coronavirus crisis, which has already battered oil prices, threatens to further undercut Gulf economies battling a downturn and struggling to wean themselves from a decades-old energy addiction. The six Gulf states — Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates …
Read More »Gov’t going ahead with feasibility study on Uhuru Falls
Kampala, Uganda | THE INDEPENDENT | The Minister of State for Energy, Eng. Simon D’Ujanga says that government will consider conducting the feasibility study on Uhuru Hydro-power project. D’Ujanga made the statement on Tuesday when he appeared before the Natural Resources committee that is currently inquiring into the construction of …
Read More »ESKOM: Ramaphosa vows to restore reliable power supply to South Africa
Johannesburg, South Africa | AFP | South African President Cyril Ramaphosa on Saturday said the country’s debt-laden power utility Eskom would not be privatised and pledged to restore it to full capacity. Rolling blackouts were implemented several times last year to prevent the grid collapsing and resumed last weekend despite …
Read More »Power cuts return to South Africa
Johannesburg, South Africa | AFP | South Africa’s electricity utility Eskom at the weekend resumed power outages, citing a “vulnerable” generating system, just weeks after implementing the severest rationing in recent times. The debt-laden company which generates around 95 percent of the country’s electricity, on Sunday said the cuts …
Read More »Electricity generation company in record Shs24bn profit
Kampala, Uganda | JULIUS BUSINGE | Uganda Electricity Generation Company Limited (UEGCL) announced on Dec.17 that it had made a net profit of Shs24.7bn for the financial year 2018/19, up from a loss of Shs10.8bn a year before. Officials said the profit, the first since the company’s inception in 2001, …
Read More »South Africa’s power blackouts intensify
Johannesburg, South Africa | AFP | South Africa’s debt-laden state power company Eskom on Monday announced it was implementing a more intense electricity rationing schedule, five days after continued rolling power cuts have plunged businesses, schools and homes into darkness. The power cuts, known as “load shedding” are implemented to …
Read More »BP chief executive Dudley stepping down
London, United Kingdom | AFP | BP said Friday that Chief Executive Bob Dudley, who oversaw the energy giant’s response to and recovery from the devastating Gulf of Mexico 2010 oil spill disaster, will leave next year. American Dudley, 64, will step down on February 4, 2020 and retire at the …
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