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Nigeria Plans to split National Oil Corporation into 30 Independent Companies as an Anti-Corruption measure
Nigerian National Petroleum Corp (NNPC) is to be split into 30 independent companies within weeks, the group’s head said on Thursday, in a restructuring designed to help tackle corruption at the state oil company. Mismanagement and graft at NNPC has hampered an industry that provides around 70 percent of national income in Africa’s biggest crude
Major Oil producers plan to meet in Russia to agree on Output as way of saving the falling Crude Prices
Key members of the Organization of Petroleum Exporting Countries (OPEC) intend to meet with other producers in Russia on March 20, 2016 to renew talks on an agreement to cap oil output, Nigeria’s petroleum minister said. Russian State Run news channel RT has also confirmed the development. There will be a “dramatic price movement” when
Global witness rise Concerns about Environmental risks and Suitability of firms listed in Uganda Oil Exploration Licencing Round
Commending the government of Uganda for publishing the seven bidders for its first Competitive Oil exploration Licences, watchdog group Global Witness has expressed concerns about the environmental risks associated with oil activities in the listed Blocks. The Organisations in a statement says the areas identified for oil exploration are within environmentally protected areas in Virunga
Uganda Receive Bids for first Competitive Oil Exploration Licencing Round from Seven Firms
Uganda has received seven bids for six oil exploration blocks offered in a licensing round and it plans to chose the winners and sign deals by the end of June, the Ministry of Energy and Mineral Development said . The firms that submitted bids are: Armour Energy Limited of Australia, WalterSmith Petroman Oil Limited of
The Unclear, so Clear as Uganda announces Considering Tanzania for Multi billion Dollar Crude Oil Pipeline Project
A latest communique from Uganda’s presidency suggests the country is currently working on the implementation of an earlier decision to have its crude oil export pipeline southwards to Tanga in Tanzania as opposed to Kenya. The statement relates to a bilateral meeting between Ugandan President Yoweri Museveni and his Tanzanian counterpart John Magufuli on the
Tanzania Announce discovery of additional 2.17 Trillion Cubic Feet of Natural gas near Capital Dar es Salaam
Tanzania has discovered an additional 2.17 trillion cubic feet (tcf) of possible natural gas deposits, raising the east African nation’s total estimated recoverable natural gas reserves to more than 57 tcf, local media reported on Thursday. The onshore reserves were found at a field licensed to the United Arab Emirates’ Dodsal Group located at Ruvu
Uganda Energy Ministry Must expedite Implementation of National Local content Policy—Expert Local
By Dickens Kamugisha…. I would like to congratulate Ugandans for having successfully elected a president and their parliamentary representatives. To the winners and losers, I say we embark on the task of building the Uganda we want. Among these tasks is holding government accountable for its actions or lack thereof. Before we went to the
Giant Shell Enters Tanzania Gas Industry as nation warms up for Billions in Capital Gains Tax
The government of Tanzania is bracing itself to receive millions of dollars in capital gains tax following Shell’s acquisition of BG Group assets in Tanzania gas wells. The deal officially announced on February 22, 2016 amounts to $55 billion. BG Group Tanzania, with its partner Ophir Energy, has invested over $1 billion in a fast-track
Uganda Must be Smart to profit from both Challenges and Opportunities of the Oil Sector—Expert
By Silver Kayondo… Oil prices have plunged again after China and South Korea posted weak economic results, while fading prospects for a coordinated output cut by leading crude exporters to reduce over-supply continue to hurt the market. China’s manufacturing sector has contracted at the fastest pace since January 2012, adding to the pile of worries