Tag Archives: oil

Kampala, Uganda | THE INDEPENDENT | The Petroleum Authority of Uganda (PAU) has approved US$483 million, equivalent to 1.7 trillion Shillings as recoverable costs by five oil companies. The companies are Tullow, Total, China National Offshore Oil Company (CNOOC), Armour Energy and Oranto. According to Ernest Rubondo, the Chief Executive of …

Paris, France | AFP | A French court on Friday fined oil giant Total 500,000 euros ($575,000) for corruption over bribes it paid to secure a huge gas concession in Iran in 1997. The French company was accused of paying $30 million in bribes in return for help in securing …

Kampala, Uganda | THE INDEPENDENT | The planned construction of the Kampala Oil Terminal has suffered a setback as a result of a fresh land conflict pitting the government against one Gideon Kabuye Kirumira. The land, measuring 299 acres in Kiringente Sub County, Mpigi district, was identified in 2007 as a …

Kampala, Uganda | THE INDEPENDENT | The amount of crude oil so far discovered is six billion barrels, down from 6.5 billion barrels, the Uganda government has announced. Of the six billion barrels, the amount recoverable has also been put at 1.4 billion barrels, down from the initial range of between …

London, United Kingdom | AFP | The Nigerian government is taking oil giants Shell and Eni to court in London, requesting the return of $1.1 billion (969 million euros) as part of a case of alleged corruption dating back to 2011, Bloomberg reported on Thursday. Nigeria alleges that the money …

Vienna, Austria | AFP | OPEC members and 10 other oil producing nations, including Russia, agreed Friday to cut output by 1.2 million barrels a day in a bid to reverse falls in prices in recent months. Energy ministers reached the deal — which takes effect from January 1 but …

New York, United States | AFP | Hong Kong’s former home affairs secretary Patrick Ho Chi Ping was convicted by a New York court Wednesday over a multimillion dollar bribery scheme in Africa on behalf of a top Chinese energy company. Ho, 69, was convicted by a jury of seven …

Abuja, Nigeria | AFP |  Nigeria’s main anti-corruption agency on Monday filed for the arrest of former oil minister Diezani Alison-Madueke after a judge approved a request for her to be charged with corruption. The Economic and Financial Crimes Commission (EFCC) said in a statement the application for warrant of …

Buenos Aires, Argentina | AFP | Turkish President Recep Tayyip Erdogan demanded Saturday that Saudi Arabia extradite suspects in the killing in Istanbul of journalist Jamal Khashoggi, taking to task the kingdom’s crown prince who was basking in his quick return to the world stage at the G20. Crown Prince Mohammed …

Kampala, Uganda | THE INDEPENDENT |  The Civil Society Coalition for Oil has reported an invasion of speculators rushing to acquire properties in areas of Gomba in a scheme to reap from the East African Crude Oil Pipeline project. Gomba is among the ten districts where the proposed 1,445 kilometres …