Following the decision by the government of Uganda to route is crude oil southwards to Tanzania’s Northeastern Port of Tanga, both governments pledged to expedite the project and work was expected to start this August 2016. However, the need to make necessary evaluation on the Fiscal framework, Size of the pipeline corridor, and Set of time-bound
Three Nigerian Companies, One Australian Selected as Competent for Uganda Oil Exploration licensing round
Uganda has picked three Nigerian companies and one from Australia for its oil exploration licensing round, inviting them to negotiate for production sharing agreements, it said on Monday. It announced its first competitive bidding round for six exploration blocks, covering a total of 3,000 square kilometres (1,150 square miles), in February 2015. Bidding documents were
Tanzania Energy Minister Says DR Congo and Burundi Want to Join Uganda Pipeline Project
Democratic Republic of Congo (DRC) and Burundi expressed interest to join the Uganda-Tanzania Oil Pipeline project, a Tanzanian official said Tanzania Minister for Energy and Minerals, Prof Sospeter Muhongo, made the revelation in Dar es Salaam while opening a one-day meeting of ministerial Permanent Secretaries and Regional Commissioners from areas expected to be affected by
Price Slump opening way for Private Equity firms to Enter Oil industry—Ernst and Young Report
A recent report by Business Consultants Ernst and Young indicate that Private equity (PE) firms are preparing to invest in global oil and gas sector despite the recent slump in prices. The firm through a survey on about 100 PE firms observed that about 25 per cent of the PE firms are planning acquisitions before the
OPEC Report: Nigeria slumps in Oil Production, Angola Now New Africa Oil Producing giant
As the crash in crude continues to hit hard on the country’s economy, Angola is now the number one oil producing nation in Africa, taking over the position of Nigeria. In its latest monthly report, the Organisation of Petroleum Exporting Countries, OPEC, said Nigeria’s oil production fell by 67,000 barrels per day (bpd) in March. The