Tag Archives: oil

Kampala, Uganda | THE INDEPENDENT | Oil prices are forecast to rise to $56 a barrel in 2018 from $53 this year as a result of steadily growing demand, agreed production cuts among oil exporters and stabilizing United States shale oil production, according to the World Bank’s Senior Economist John Baffes. …

Accra, Ghana | AFP | Ghana’s “long and arduous journey” to boost offshore oil exploration and extraction will be fuelled with billions of extra dollars after a key court victory over Ivory Coast. Thanks to efforts by successive governments and conquering lawyers at the International Tribunal on the Law of the …

  Hoima, Uganda | THE INDEPENDENT | President Yoweri Museveni and Tanzania foreign minister Dr. Augustine Mahiga have laid a foundation stone at the start point of the 1,445km-long East Africa Crude Oil Pipeline (EACOP) in Hoima, Uganda. Saturday’s function marked the climax of the visit by Tanzania’s president John Magufuli, who …

Mutukula, Uganda | THE INDEPENDENT | President Yoweri Museveni of Uganda and John Pombe Magufuli of Tanzania have today inaugurated the Mutukula One Stop Border Post and also laid the cross-border marker for the construction of the East Africa Crude Oil Pipeline (EACOP). The One Stop Border Posts (OSBP) launched …

Paris, France | AFP |  Sub-Saharan Africa nations are growing more dependent on China as an export market, putting them at greater risk to shifts in the Chinese economy, a study published Tuesday said. “There is no doubt about a strong dependence on China for countries that produce oil and …

Kampala, Uganda | THE INDEPENDENT |  Tanzania president Joseph Pombe Magufuli will visit Uganda this week to seal cooperation in areas of transport, power and oil. His 3-day State Visit will climax with laying of the second foundation stone for the East African Crude Oil Pipeline in Hoima on Saturday. …

  THIS WEEK: Shs 72trillion needed for investment in Uganda’s oil Kampala, Uganda | THE INDEPENDENT | Uganda will need about Shs72 trillion for investment in its development phase after transitioning from exploration. Ernest Rubondo, the executive director of Petroleum Authority of Uganda said the investment is expected to spur jobs, …

  INTERVIEW: Kodey Rao is the managing director of Bidco Uganda Limited, the producer of edible oil.  He spoke to The Independent’s Isaac Khisa about the country’s edible oil industry and the future outlook. What is the assessment of edible oil consumption in the country at the moment? Edible oil …

Abuja, Nigeria | AFP | Nigeria’s state-run oil firm on Monday hit back at claims of corruption from a senior government minister that have put President Muhammadu Buhari’s war on graft in the spotlight. The Nigerian National Petroleum Corporation (NNPC) said the allegations made by junior oil minister Emmanuel Ibe Kachikwu …

Lagos, Nigeria | AFP | A leaked memo from Nigeria’s minister of state for oil has shown that irregularities in the state-owned oil giant remain entrenched, despite official vows to root out the “cancer” of graft. Emmanuel Ibe Kachikwu wrote to President Muhammadu Buhari to report on questionable practices in the …