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Tag Archives: oil

Saudi Arabia hopes to lure over $425 bln in investments

Riyadh, Saudi Arabia | AFP | Saudi Arabia on Monday launched an ambitious programme which it hopes will attract $427 billion in investments in the industrial and logistics sectors, as the OPEC kingpin bids to reduce dependence on oil. To kickstart the 12-year programme, the Gulf state announced the signing …

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Uganda, Tanzania set new deadline for oil pipeline agreement

Kampala, Uganda | THE INDEPENDENT | Uganda and Tanzania have agreed to complete and sign a Host Government Agreement for the East Africa crude oil pipeline by end of June this year. The new deadline comes after week-long negotiations between Ministers from Tanzania and Uganda. The protracted negotiations at Kampala …

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Venezuela, an impaired oil giant

Paris, France | AFP | Venezuelan oil output has plunged by more than half in 30 years but the country still sits on the world’s biggest crude reserves, so any political changes will ripple worldwide. The country holds 17.9 percent of proven oil reserves, ahead of Saudi Arabia at 15.7 percent, …

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Board approves Kenol Kobil sale to French firm

5 Kampala, Uganda | THE INDEPENDENT | The board of the regional oil marketer, Kenol Kobil, has approved the proposed takeover of the firm by the French based company, Rubis Energie. The shareholders, however, have until February 18 to accept or decline the offer, according to reports from Kenya’s local …

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EA oil pipeline impact assessment report finalized

Kampala, Uganda | THE INDEPENDENT | The Environmental Social Impact Assessment (Esia) report for the East Africa Crude Oil Pipeline (EACOP), has been finalized and handed over to the National Environmental Management Authority (NEMA). The move signals a major milestone in the impending approval of the project. The study conducted by …

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Albertine fishermen demand involvement in oil and gas sector

  Kampala, Uganda | THE INDEPENDENT | Fishermen in the Albertine Graben are demanding involvement in the oil and gas sector. They argue that despite the improvement of various sectors like roads, Health facilities and Education, the fishing communities have been abandoned. Currently, the government and oil companies are implementing several infrastructures …

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Fuel protests turn deadly in Zimbabwe

Harare, Zimbabwe | AFP | Violent protests in Zimbabwe claimed lives on Monday as soldiers were deployed after the embattled government more than doubled fuel prices, sparking widespread anger. Protesters burnt tyres and barricaded roads while cars were torched as demonstrations turned violent in the capital Harare and Bulawayo, Zimbabwe’s …

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