Tullow Oil, an Independent oil explorer has issued a statement confirming great hope in the new year 2019. The company believes for growth in its oil production by 10%. The statement was issued on Wednesday and Tullow based its claim on the successful drilling program at its Ghanaian assets. “Tullow is well-placed to deliver on
Investors from the United Kingdom have paid a second visit to Uganda to pave way on how they can improve their chances at acquiring some shares from the Uganda oil and gas sector The businessmen from 11 UK companies, that deal in petrochemical, pipeline, power and renewable industries, met up with senior Ugandan delegates on
Uganda National Oil Company has held talks with Kenya National Oil Company and Kenya Pipeline Company on how the two countries can benefit from oil and gas discoveries. In the talk session hosted by the National Oil Corporation of Kenya (NOC) , the companies shared experiences and ways of maximizing the benefits that come with
President Yoweri Museveni has refuted claims that Uganda oil production maybe overdue because of the slow policy implementation processes in the oil sector saying that all major decisions have been made to facilitate oil production. “What remains to be tested is the preparedness and readiness of you all and most especially the East Africans, our
The Uganda oil sector may postpone oil production commencement from it’s oil refinery to 2022 due to delays in the project studies. This will put it two years ahead of the set date of production of 2020 to 2022. According to Energy Minister Irene Muloni, the Front-end Engineering Design, or FEED which was supposed to
The US Ambassador to Uganda Deborah Malac has urged the Ugandan government to use proper procedures in the development of its oil and gas sector so as not to fall prey to the problems that other mineral rich countries face. The ambassador, while Speaking to a delegation on the contract, transparency and accountability in the
The Bunyoro Kitara kingdom has requested government to give it some shares in the Uganda National Oil Company. According to the kingdom’s Prime Minister Andrew Kirungi Byakutaaga, their legal team is planning to draft a proposal to the parties involved to ensure that Bunyoro doesn’t miss out on the benefits of the oil sector. Byakutaaga
Tanzania approved a series fiscal packages in relation to the Crude oil pipeline partnership with Uganda including; exemptions on transit fee, import tax, withholding tax and value added tax. Cabinet expects to table the approved proposals to the Tanzania National Assembly in January 2017 according to Daily News newspaper. The revelations were made by Tanzanian
Energy officials from Uganda and Tanzania agreed on the technical and fiscal work plan in fast-tracking of the joint crude oil export pipeline project. The Joint Pipeline Development Committee (JPDC) and project steering committee from both countries met to in Tanzania to haggle and strike a common position on the project schedule and workout modalities
Uganda’s Multi-billion dollar refinery project has hit another huddle after South Korean consortium, SK Engineering turned down the offer to return to the negotiation table. SK was Uganda’s next alternative after the preferred consortium led by Russian firm RT Global (Leader) pulled out at negotiation in July 2016. It is not yet clear why the Russian Defense