Tag Archives: oil

Lagos, Nigeria | AFP | In a move Nigeria’s president hailed as a “landmark moment”, Africa’s largest oil producer approved legislation this week to bolster its share of revenues from international majors. The authorities say the amendment — heralded as the biggest change in decades to its production sharing deals — will …

    NEWS BRIEFS: Anti-corruption civil society agencies have warned the government against withdrawing money from the Petroleum Fund without following a structure to oversee the expenditure as required by law. Transparency International Uganda and the Anti-Corruption Coalition Uganda top executives said Oct.21 they were alarmed at the recent announcement …

  Nanterre, France | AFP |  Six NGOs said Wednesday that they had filed a lawsuit against the French energy giant Total over an oil field project in Uganda, accusing it of failing to avert “disastrous impacts” for local residents and biodiversity. The groups hope the court in Nanterre, outside …

Riyadh, Saudi Arabia | AFP | Energy superpowers Saudi Arabia and Russia on Monday signed a key deal to bolster cooperation among the world’s oil giants, as visiting President Vladimir Putin sought to defuse political tensions in the Gulf. Putin’s visit follows attacks on Saudi oil installations that Riyadh and …

Oil, Iran top agenda as Putin visits Saudi Arabia Moscow, Russia | AFP | Russian President Vladimir Putin will visit Saudi Arabia on Monday, where he is set to seal oil agreements as well as use his influence to defuse rising tensions in the Gulf. The meeting with King Salman …

    Kampala, Uganda | THE INDEPENDENT | Following the rebasing of the Ugandan economy, it has been revealed that the industry sector, which comprises of construction, mining and quarrying, manufacturing, and electricity supply, experienced the biggest revision upwards. According to Uganda Bureau of Statistics (UBOS), industry sector’s contribution to …

  Juba, South Sudan | AFP |  South Sudan said Monday it was renegotiating an oil deal with Khartoum, as it will not meet a December deadline to finish paying $3 billion (2.7 billion euros) agreed as compensation for the oil-rich nation’s 2011 secession. South Sudan and Sudan in 2012 …

Borrowing against future oil revenue pushes Uganda to Resource Curse – Mutebile Kampala, Uganda | THE INDEPENDENT | Bank of Uganda (BoU) Governor Emmanuel Tumusiime-Mutebile has said the expectation of oil revenues has pushed Uganda to go for more expensive loans to finance infrastructure projects, a precursor for a resource …

Kampala, Uganda | THE INDEPENDENT | President Yoweri Museveni has said that he is in touch with the executives of oil companies and will meet them soon to discuss the current impasse in the sector. Museveni, who was speaking at the 5th Oil and Gas Summit at Serena Hotel in Kampala …

Kampala, Uganda | THE INDEPENDENT | The United Nations’ Secretary-General Antonio Guterres has convened an urgent summit of World leaders to ignite global actions against unfolding waves of climate change emergencies. The Summit due to take place in the New York on Monday is expected to be attended by world …