Tag Archives: oil

Oil pundits sees Tullow Oil plc.’s new share sale a strategy to exit the country’s oil sector London-Based Tullow Oil plc’s announcement that it is once again scaling down its stake in Uganda’s oil development, shedding off nearly two thirds of its shareholdings to the rival firm, Total E&P for …

The lawyer representing a petitioner who sought to stop discussion on the sh6 billion cash awarded to a number of selected public servants has apologized to Uganda’s parliament for the issuance of a court order, which stalled government business. “The speaker’s ruling, which is as a result of the court …

Kampala, Uganda | THE INDEPENDENT | Tullow Oil plc (Tullow) has announced it will cease to be a key oil operator in Uganda and that it has agreed a substantial farm-down of its assets  to Total E&P Uganda B.V. (Total). In a press statement released Monday,  Tullow said that once the …

Uganda’s Constitutional Court has issued an interim order stopping parliament from debating,  investigating or inquiring into the presidential hand shake, until a main petition filed against the Attorney General is heard and disposed of. Deputy Chief Justice Steven Kavuma on Monday granted the application filed by Eric Sabiiti the Senior …

Setting up an oil refinery remains a big headache for the country’s oil and gas resources Optimism is the mood as the countdown to Uganda’s first oil continues and pressure mounts on the government to put in place critical infrastructure necessary for oil production in four years. “The government should …

Uganda Revenue Authority has explained the circumstances under which several government officials were rewarded for helping win the 2014 capital gains tax case against UK based oil company Heritage. “It is standard international best practice for employees to receive bonus payments/ or honoraria for exemplary performance in both the public …

VIDEO: Legislators have condemned a reward of sh7 billion of oil money given to senior government officials after they won an oil tax case against Heritage Oil.  The legislators under a loose coalition dubbed; “NRM Members of Parliament Think-tank”want the Speaker of Parliament Rebecca Kadaga to cause an investigation into …

Luanda, Angola | AFP |  Angolan President Jose Eduardo dos Santos’s daughter, reportedly Africa’s richest woman, has been cleared to head the national oil company Sonangol, after a court rejected a legal challenge. Isabel dos Santos was put in charge of Sonangol in June in a move some analysts said …

Following the withdraw of the Russian-led consortium RT Global Resources, from the oil refinery construction in July, the government is looking for a new investor to partner in the project by mid-2017 This year marked a decade since the government announced the discovery of commercially viable oil and gas resources …

Vienna, Austria | AFP | Eleven countries agreed on Saturday to cut their oil output, teaming up with the OPEC cartel in an exceptional bid to end the world’s glut of crude and reverse a dramatic fall in income. Russia and 10 other non-OPEC states will reduce their production by …