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Tag Archives: oil

Oil majors strike it rich on rising crude prices

Paris, France | AFP | The world’s leading oil companies published a bumper crop in profits last year as rising crude prices helped turn their fortunes around, but they remain cautious and are unlikely to rush out on a new spending spree just yet. In a flourish of earnings reports …

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Uganda could hire expatriates for oil jobs

Kigumba Petroleum Institute has trained just 133 locals with certificates and diplomas in oil and gas Kampala, Uganda | JULIUS BUSINGE | Uganda will start investing in the oil and gas infrastructure ahead of the planned production in 2020 but there are indication that majority of the work will be undertaken …

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US mulling sanctions on Venezuela oil: Tillerson

Buenos Aires, Argentina | AFP | The United States said Sunday it has not ruled out sanctions on Venezuelan oil as it turns the screw on President Nicolas Maduro, but is wary of hurting the country’s people. Secretary of State Rex Tillerson is in Argentina as he tours Latin American to …

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Express Shipping and logistics comes to Uganda.

Uganda is becoming more appealing destination for investors from the East African Community (EAC) Kampala, Uganda | JIMMY SIYA | From the time the Uganda government announced that it will be constructing an oil pipeline, Kenyan logistic companies have shown interest in moving into the country to tap from the …

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Total set to ramp up Nigerian oil output with new ship

Lagos, Nigeria | AFP | A gigantic oil tanker arrived in Nigeria as part of a multi-billion dollar project that should allow one of Africa’s biggest crude producers to pump out an additional 200,000 barrels a day. The floating production storage and offloading vessel is docked in Lagos after spending …

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US to overtake Saudi as crude oil producer: IEA

Paris, France | AFP | The United States are set to overtake Saudi Arabia as the world’s number two oil producer after Russia this year, as shale companies, attracted by rising prices, ramp up drilling, the International Energy Agency said on Friday. “This year promises to be a record-setting one …

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Fuel shortage in oil-rich Angola tests new president

Luanda, Angola | AFP | Angola has suffered a week of fuel shortages, a bitter irony for one of Africa’s leading oil producers, and a hardship that some people blame on opponents of President Joao Lourenco. The majority of petrol stations in the capital Luanda have had long lines of motorists …

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