Tag Archives: oil

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 …

  COMMENT | BETTY NAMUBIRU | Across the African continent, oil-producing countries such as Nigeria, Angola, and Ghana have demonstrated that deliberate policies centered on joint ventures, structured enterprise development, and phased skills development can increase local participation in operations to between 70 and 80 percent. Uganda is pursuing a …

Kampala, Uganda | URN | The Africa Supply Chain Confederation says the continent is bracing for rising fuel and food prices following the escalating disruptions in the Strait of Hormuz. This critical global oil transit route has been partially blocked due to the war in Iran.  Ronald Mlalazi, the Confederation’s …

WASHINGTON | Xinhua |  While saying the United States is “nearing completion” of its core objectives in Iran, U.S. President Donald Trump on Wednesday night threatened to hit Iran “extremely hard over the next two to three weeks,” a timeline he has recently set for ending the monthlong war. “I …

Kampala, Uganda | URN | Uganda has sufficient fuel reserves to last into late May, the government has announced, dismissing widespread social media claims of an impending shortage. In a joint statement issued Tuesday, the Ministry of Energy and Mineral Development and the Uganda National Oil Company (UNOC) described the circulating …

MOSCOW | Xinhua |  Russia will continue working on oil supplies to Cuba as the Caribbean island nation faces a severe energy shortage, Kremlin spokesperson Dmitry Peskov said Monday. “We will continue to work,” Peskov told reporters when asked whether additional energy shipments to Cuba could be expected. Earlier in …

Kampala, Uganda | URN | The International Energy Agency has called for urgent demand-side action as the ongoing conflict in the Middle East has triggered the largest supply disruption in the history of the global oil market. The conflict has sent shockwaves across Africa and intensified pressure on fuel-dependent economies …

Despite global shipping disruptions, the bulk of the materials required for First Oil are already in the country, with only a limited amount still in transit—mainly from Asia. COMMENT | ALI SSEKATAWA | As every second, minute, hour, day, and month winds down, Uganda edges closer to its promise—the dawn of oil …

WASHINGTON | Xinhua |  U.S. President Donald Trump on Monday complained that U.S. allies are reluctant to answer his call to join a White House-proposed multinational mission to escort oil tankers through the Strait of Hormuz. “We’ve protected them from horrible outside sources, and they weren’t that enthusiastic. And the …