Tag Archives: oil

New York, United States | AFP | Oil prices slumped to their lowest level of 2017 Wednesday following a bearish US supply report that also dented American petroleum-linked shares. The US oil benchmark, West Texas Intermediate, slid more than five percent to $50.28 a barrel, its lowest price since December. …

Riyadh, Saudi Arabia | AFP |  Seventeen years after first setting foot in Saudi Arabia, Dominic Steck shipped his two cats and returned to Germany with his wife and school-age children, who hardly know their homeland. As Saudi Arabia steps up efforts to employ more of its own people, and …

President Yoweri Museveni is in Dar es Salaam to inspect improvements on Tanzania’s main port so that it can be used as an option for Uganda’s exports and imports. According to Augustine Mahiga, the Tanzania Minister for Foreign Affairs,  Museveni’s visit to the Dar es Salaam port was to encourage Ugandan businessmen to …

London, United Kingdom | AFP |  Russia’s Rosneft oil giant has paved the way for investment in Libya’s oil sector by signing a Cooperation Framework Agreement with the National Oil Corporation of Libya, it was announced Tuesday. The agreement was signed Monday on the sidelines of London’s International Petroleum Week …

Lagos, Nigeria | AFP |  A court on Thursday ordered $153.3 million allegedly diverted by Nigeria’s former oil minister Diezani Alison-Madueke from the state-run oil firm to be handed over to the government. Judge Muslim Hassan, sitting at the federal high court in Lagos, made the forfeiture order in the …

Lagos, Nigeria | AFP | A former head of Nigeria’s state-run oil company is under investigation after almost $10 million in cash was found at a property he owns. The Economic and Financial Crimes Commission (EFCC), an anti-corruption agency, said it had seized $9.8 million (9.2 million euros) from a …

Total confident despite volatile oil prices Paris, France | AFP |  French oil major Total said Thursday it planned to increase its dividend to shareholders as it expressed confidence earnings could withstand the current volatility in oil prices. Total said in a statement that its headline net profit soared 22 …

OPINION: Why it was morally right to reward public officials for winning Shs1.6 trillion worth of government revenues By Andrew M. Mwenda “It is not easy to stand apart from mass hysteria, to argue against something that everyone, especially the most respected political leaders, academics, and experts are saying and …

Uganda today marks 31 years since the NRM/NRA took over power. The day’s celebrations have been held in Masindi, western Uganda. The theme for the national celebrations was ‘Uganda’s success story under NRM leadership, a shared victory’. President Yoweri Museveni emphasized five key areas government is now focusing on: Government will focus …

COMMENT: By Joseph Were She should have known that her role in the saga could damage URA; an institution whose brand is integrity One of the most glaring omissions in the ongoing debate around the so-called oil cash bonanza has been the absence of comment and action from the Ministry …