Tag Archives: oil

Vienna, Austria | Xinhua | The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, on Sunday agreed to adjust their overall production level to 40.46 million barrels per day (bpd) next year. The oil-producer alliance announced the decision in a statement released after …

Although it is a large crude oil producer, country has faced challenges supplying its citizens with refined oil products Lagos, Nigeria | AGENCIES | The world’s largest single train refinery was on May 22 commissioned in Nigeria. The $20 billion giant refinery was built by the Dangote Group which is owned …

An egg is sold between shillings 300 and 500 in Kampala but some suppliers in Bunyoro region want to sell an egg to the oil companies at between shillings 1,000 and 1,500 Kampala, Uganda | THE INDEPENDENT | Companies working to develop oil and gas in the Albertine region are …

Africa’s largest oil refinery goes live in Nigeria as the continent’s largest oil producer seeks to cut fuel importation costs. The refinery promises to turn Nigeria from a net importer to a net exporter of refined oil. SPECIAL FEATURE | BIRD AGENCY | In a ceremony attended by heads of …

Banks are ready to finance the sector but with stringent conditions    Kampala, Uganda | JULIUS BUSINGE | Uganda’s commercial banks have reiterated their commitment to finance oil and gas projects as long as borrowers meet the terms and conditions. Bank executives who spoke during the 10th East African Petroleum and …

Lessons for the rest of Uganda’s economy from the local content rules enforced in our oil sector THE LAST WORD | Andrew M. Mwenda | For over thirty years now, Uganda government generally and President Yoweri Museveni specifically, have promoted an open-door policy on Foreign Direct Investment. Foreign firms are given freedom to …

Kampala, Uganda | THE INDEPENDENT | The East African Crude Oil project is seeking a 1.8-billion-dollar debt for construction to take off. The project has been estimated to cost between $3.5 billion and $4 billion, of which 60 percent comprises debt raising and 40 percent equity. Energy and Minerals Development Minister, …

Kampala, Uganda | THE INDEPENDENT | Players in oil and gas have pleaded with the countries in the West not to starve Uganda and Africa of financing needed to get those resources out of the ground. The call has been sounded by the Energy and Mineral Development Minister, Ruth Nankabirwa, …

Kalangala, Uganda  | THE INDEPENDENT | The acute scarcity and high cost of seedlings are frustrating the anticipated expansion of the oil palm growing project in Kalangala district. With support from the government and International Fund for Agriculture Development-IFAD since the early 2000s, the communities in Kalangala undertook to grow …

Kampala, Uganda | THE INDEPENDENT | Africa must use its oil and gas resources to provide energy for 600 million of its population currently trapped in energy poverty. The call is by Dr. Omar Farouk Ibrahim, the Secretary-General of the African Petroleum Producers Organization (APO). Omar Farouk Ibrahim was the keynote …