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Tag Archives: TOTAL

Uganda may not produce oil until 2025 – World Bank

Kampala, Uganda | THE INDEPENDENT | Uganda’s dream to be an oil-producing country may not be realized until 2025, the World Bank has said. In its Economic Update report, the bank says “the sharp decline in world oil prices resulting from the COVID-19 crisis could delay oil sector investments in …

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Oil collapse wipes out profits at Total

Paris, France | AFP | Total said Tuesday its quarterly profit fell by 99 percent because of dropping oil prices and announced it would slash investments in response to ongoing turmoil in crude markets. The French oil major reported a net profit of $34 million for the first quarter, against $3.1 billion a year earlier. …

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Tullow finally sells its Ugandan assets

  Kampala, Uganda | RONALD MUSOKE | French oil super major, Total, will take over Tullow’s assets in Uganda’s Lake Albert Development project including the stake in the East Africa Crude Oil Pipeline following the recent conclusion of a sale and purchase agreement with the British oil firm. According to …

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Delays in Uganda’s oil

Here are the likely impacts of delays in making the Final Investment Decision after seven postponements | CORTI PAUL LAKUMA | Yet again the final investment decision (FID) on oil production in Uganda was delayed in August 2019. The delay meant that the date for first oil had to be …

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