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Tag Archives: TOTAL

URA okays $575 million Total-Tullow oil deal

Kampala, Uganda | THE INDEPENDENT | French oil major Total,  the Ugandan government and Tullow have resolved tax disagreements that have delayed the sale of a $575 million stake that is key to ensuring Uganda produces first oil in three years’ time. “Government of Uganda and the Ugandan Revenue Authority have executed a …

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Tough times for Africa’s upstream oil and gas

How is the Covid-19 pandemic impacting investment in large-scale oil and gas developments in sub-Saharan Africa? Ian Lewis sees tough times ahead Getting upstream oil and gas projects off the ground in sub-Saharan Africa was challenging before the Covid-19 pandemic. Now the operating environment is even tougher, as the industry contends with …

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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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