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Tag Archives: oil

MUSEVENI: Oil revenue to relieve gov’t of external debt

Kampala, Uganda | THE INDEPENDENT | President Yoweri Museveni has stated that the country will earn US$2 billion per annum once oil production starts in 2025. Museveni said that this revenue will be devoted to infrastructure and science development. President Museveni said investing US$2 billion in the two sectors will significantly …

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Africa Energy Bank awaits two country signatures

Cairo, Egypt | THE INDEPENDENT | The Africa Energy Bank is finally ready for implementation, following the signing of the Establishment Agreement between the Pan-African Bank, Afrexim, and the oil-producing countries of the continent. The agreement between the Africa Petroleum Producers’ Organization (APPO) and the Africa Import and Export Bank (Afreximbank) …

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Uganda oil, gas and environment, everybody must win

Kampala, Uganda | THE INDEPENDENT | Uganda is undertaking a highly controversial oil project amidst fears of likely adverse environmental effects. The debate is far from ending as the clock ticks to the first oil 2025. Will the government honor its pledge to sustainably exploit the resources? The debate has rotated …

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Norway gives Uganda green light on first oil in 2025

Kampala, Uganda | THE INDEPENDENT | The Norwegian Oil for Development Programme (OfD) is ending over thirty years of support to Uganda’s Petroleum sector, that is now ready for take off. Gunnar Sjögren, the Project Director of International Cooperation at the Norwegian Offshore Directorate (NOD)  said Uganda’s petroleum sector’s building …

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IEA Chief: Oil and gas demand to fall by 2030

SPECIAL REPORT | THE INDEPENDENT | The International Energy Agency Chief Dr. Fathi Birol has insisted that global oil and gas demand will start to fall before 2030, marking the “beginning of the end” of the fossil fuel era. The International Energy Agency (IEA) in November last year raised hopes of an end …

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