Tag Archives: oil

Nairobi, Kenya | URN | President Yoweri Museveni has hinted at the possibility of using Uganda’s crude oil as a contribution to putting up a mega crude oil refinery in East Africa to be located in Tanga, Tanzania. The move is part of broader efforts to boost local refining capacity …

  Currently, petroleum prices are still significantly higher than pre-war levels, when Brent crude was trading below $73 per barrel before the outbreak of the Iran war   Kampala, Uganda | ISAAC KHISA | Insurance leaders across Africa are warning of a potential economic slowdown as surging global petroleum prices …

Kampala, Uganda | URN | The industry has put the completion level of the export pipeline at close to 90 percent today, while pre-commissioning and commissioning testing phase (including hydro testing) exercises are ongoing to determine the facility’s readiness, according to the Petroleum Authority of Uganda (PAU). These tests ensure …

WASHINGTON | Xinhua | U.S. President Donald Trump said Tuesday he will extend the ceasefire with Iran as the current two-week truce is set to expire on Wednesday night. “Based on the fact that the Government of Iran is seriously fractured, not unexpectedly so and, upon the request of Field Marshal …

  PARIS | Xinhua) |  French President Emmanuel Macron said Friday that Iran’s announcement of reopening Strait of Hormuz goes in right direction. Macron made the remarks in a joint declaration following a conference co-hosted by France and Britain in Paris, which brought together 49 countries to discuss securing freedom …

COMMENT | ANDREW PI BESI | When commenting on the 1980–1988 Iraq–Iran war, Henry Kissinger once remarked that it was “a pity both sides can’t lose”. It was a chilling distillation of a worldview in which distant conflicts are not tragedies to be resolved, but instruments to be managed. Alongside Zbigniew …

VIENNA | Xinhua | The International Vienna Energy and Climate Forum, which concluded over the weekend, marked the first major global energy gathering since the latest U.S.-Israel-Iran tensions, a conflict that erupted on Feb. 28 and sent global energy prices sharply higher amid fears of supply disruptions. Under the theme …

Kampala, Uganda | THE INDEPENDENT | Uganda’s fuel prices have edged up by around 5% amid rising tensions in the Middle East, but strong reserves and reforms in the country’s procurement system have limited the impact on consumers. Petrol and diesel remain below previous highs recorded before the Uganda National …

Afreximbank deploys $10 billion to cushion economies from a new global disruption   Cairo, Egypt | THE INDEPENDENT | Africa’s multilateral lender, African Export-Import Bank, has approved a $10 billion emergency facility to shield African and Caribbean economies from the fallout of escalating tensions in the Gulf, as policymakers race …

  Once again, Africa finds itself on the receiving end of global crises; paying the price in growth, stability, and livelihoods   NEWS ANALYSIS | RONALD MUSOKE | When the so-called coordinated military strikes by the United States and Israel hit Iranian territory on Feb. 28, the escalation marked a decisive …