Oil prices reversed earlier losses on Friday as fears that escalating conflict in Libya could disrupt oil supplies from the OPEC member outweighed trade concerns. Brent crude futures rose 34 cents to $69.74 a barrel by 1405 GMT, having touched $70.03 in the previous session, its highest since Nov. 12. U.S. West Texas Intermediate (WTI)
Uganda National Oil Company (UNOC) started early this year to call out potential buyers to bid for the 45,211 barrels of test crude oil that was extracted from extended well tests. However, the bid that was programmed to end in March is still on the go due to lack of adequate qualifications from the previous
Private-equity firm Carlyle Group signed an exclusive agreement with the Port of Corpus Christi, the top oil export hub in the United States of America, to develop an offshore crude export terminal to load the world’s largest tankers. The terminal, proposed for Harbor Island, would be the first onshore location in the United States capable
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
Petrobras, following up on the release disclosed on 3/8/2018, announces that its subsidiary Petrobras International Braspetro B.V. (“PIBBV”) signed today a Sale and Purchase Agreement – “SPA”, related to the full sale of its 50% interest in Petrobras Oil & Gas B.V. (“PO&GBV”) to Petrovida Holding B.V., a company formed by the partners Vitol Investment
After decades of failed attempts, Kenya finally struck oil six years ago. Commercially viable reserves were discovered in Turkana, the northwest of the country, by British oil company, Tullow Oil. The basin is estimated to contain about 560 million barrels of oil. While commercial production is a few years away, there’s growing concern that Kenya isn’t ready for the environmental,
Total East Africa Midstream has warned the general public to be cautious while accepting jobs advertised in relation to the Tanzania-Uganda crude oil pipeline project, saying most are fakes. Total has learnt that various companies have started assuring people that they can help them secure jobs from the East African Crude Oil Pipeline (EACOP) project. Unknown
Iraqi state oil marketing company SOMO has sold Basra crude oil on the Dubai Mercantile Exchange (DME) for the first time since January, Reuters reported. SOMO sold 2 million barrels of Basra Light crude for loading on November 16-17 at 20 cents above its official listing price, the DME said. Trade sources told Reuters that China’s Unipec
Egyptian engineering, construction, and procurement (EPC) company Enppi and Egyptian Petroleum company Petrojet have completed 60% of their natural gas network expansion project in Jordan, says reports. The project will be finished next October, Egyptian Minister of Petroleum Tarek El-Molla said in a press statement during a visit to Jordan. During the trip, Egypt and
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