Tag Archives: oil

Kampala, Uganda | THE INDEPENDENT | Insurers involved in Oil & Gas projects under their umbrella body the Insurance Consortium for Oil and Gas Uganda (ICOGU) are optimistic more premiums will be underwritten soon given the lucrative nature of the Oil and Gas Sector. Speaking ahead of the Oil and …

Kampala, Uganda | THE INDEPENDENT | The Ministry of Energy kicked off the process for the third oil field licensing round as part of the efforts to increase the country’s oil reserves. Currently, Uganda has approximately 6.5 billion barrels of oil reserves, with at least 1.4 billion estimated to be economically …

Energy Minister Ruth Nankabirwa shares progress on the refinery, EACOP, and related projects Kampala, Uganda | JULIUS BUSINGE | Uganda’s oil and gas sector has received a comprehensive update on the progress of key projects, including the refinery and the East African Crude Oil Pipeline (EACOP), during a briefing by Energy Minister …

TEMA, Ghana | Xinhua | Ghanaian President Nana Addo Dankwa Akufo-Addo on Friday commissioned the completion of the first phase of a Chinese-built oil refinery in Tema, a port city in southern Ghana. The Sentuo Oil Refinery, which was built by a private Chinese company, is expected to provide thousands …

Alpha MBM Investments LLC enters refinery negotiation with Uganda Kampala, Uganda | THE INDEPENDENT | Alpha MBM Investments LLC, a UAE-based company has entered negotiations with Uganda over investing in their refinery project. The company is said to be an investment arm of a prominent member of the Royal family of …

Bulisa, Uganda | THE INDEPENDENT | Ugandan insurers are slowly making inroads in taking up risks in the oil and gas sector despite the challenge. By the end of 2023, Ugandan insurers were operating in the Tilenga, Kingfisher, and East African Crude Oil pipeline projects though there was an indication of …

Kampala, Uganda | THE INDEPENDENT | The Association of Oil and Gas Providers in Uganda has warned that it is not easy for Ugandans to supply the sector. Association of Uganda Oil and Gas Service Providers (AUGOS) Vice Chairman, Dennis Kamurasi says while one can be excited about winning the …

Kampala, Uganda | THE INDEPENDENT | The value of foreign direct Investments (FDI) into Uganda grew by almost 80 percent in 2022, the bulk of the money going into oil and gas and related activities, this is according to the latest joint government report. The survey conducted by the Bank of …

MOSCOW | TASS | Several OPEC+ countries, including Saudi Arabia and Russia, have begun voluntarily reducing their oil production by an aggregate additional volume of 2.2 mln barrels per day (bpd) in January. The policy will be in force throughout the first quarter and, depending on market conditions, the petroleum …

LUANDA | Xinhua | Angola on Thursday announced its withdrawal from the Organization of the Petroleum Exporting Countries (OPEC), according to the Angolan government’s Facebook page. The decision followed a session of the Council of Ministers, which took place on the same day at the Presidential Palace in the national …