Tag Archives: oil

Africa’s largest oil refinery goes live in Nigeria as the continent’s largest oil producer seeks to cut fuel importation costs. The refinery promises to turn Nigeria from a net importer to a net exporter of refined oil. SPECIAL FEATURE | BIRD AGENCY | In a ceremony attended by heads of …

Banks are ready to finance the sector but with stringent conditions    Kampala, Uganda | JULIUS BUSINGE | Uganda’s commercial banks have reiterated their commitment to finance oil and gas projects as long as borrowers meet the terms and conditions. Bank executives who spoke during the 10th East African Petroleum and …

Lessons for the rest of Uganda’s economy from the local content rules enforced in our oil sector THE LAST WORD | Andrew M. Mwenda | For over thirty years now, Uganda government generally and President Yoweri Museveni specifically, have promoted an open-door policy on Foreign Direct Investment. Foreign firms are given freedom to …

Kampala, Uganda | THE INDEPENDENT | The East African Crude Oil project is seeking a 1.8-billion-dollar debt for construction to take off. The project has been estimated to cost between $3.5 billion and $4 billion, of which 60 percent comprises debt raising and 40 percent equity. Energy and Minerals Development Minister, …

Kampala, Uganda | THE INDEPENDENT | Players in oil and gas have pleaded with the countries in the West not to starve Uganda and Africa of financing needed to get those resources out of the ground. The call has been sounded by the Energy and Mineral Development Minister, Ruth Nankabirwa, …

Kalangala, Uganda  | THE INDEPENDENT | The acute scarcity and high cost of seedlings are frustrating the anticipated expansion of the oil palm growing project in Kalangala district. With support from the government and International Fund for Agriculture Development-IFAD since the early 2000s, the communities in Kalangala undertook to grow …

Kampala, Uganda | THE INDEPENDENT | Africa must use its oil and gas resources to provide energy for 600 million of its population currently trapped in energy poverty. The call is by Dr. Omar Farouk Ibrahim, the Secretary-General of the African Petroleum Producers Organization (APO). Omar Farouk Ibrahim was the keynote …

Vladivostok, Russia | Xinhua | Russian President Vladimir Putin has authorized oil and oil product supplies to friendly countries under contracts signed before Feb. 1, according to a decree published on Friday. The decree, which takes effect from Friday, amended a previous one Putin signed at the end of last year …

Kampala, Uganda | THE INDEPENDENT |  Bank of Uganda has decided not to further tighten money circulation in the economy by maintaining the Central Bank Rate at 10 percent. This decision by the Monetary Policy Committee was based on the fact that inflation is starting to slow down from the …

Buliisa, Uganda | THE INDEPENDENT |  Fred Balikenda, of Kirama Village, Kigwera Sub-county in Buliisa District is determined to die for his land unless the government and TotalEnergies pay him Sh200 million for his house and his pigs that reportedly starved to death. Balikenda is one of the nine Project …