UK’s Department for International Development and Department for International Trade have published a summary of 27 commercial deals from across the African markets invited to the UK-Africa Investment Summit. According to the departments, the deals are worth over £6.5 billion. They said this in a statement released at the ongoing UK-Africa Investment Summit held in
GlobalData’s latest report, ‘Global Oil & Gas FIDs in 2020’ indicates final investment decisions (FIDs) planned across the oil and gas value chain in 2020 reflect growth in the importance of natural gas. In the upstream sector, Africa has the highest volumes of remaining reserves from greenfield projects targeting FID in 2020 due to the
In a bid to expedite the growth of its oil industry, Uganda plans to spend at least $5 billion on the development of the Kingfisher and Tilega oil fields, which are currently the subject of a tax dispute between government and three oil companies. This amount forms part of the $15 billion to $20 billion
Government has exhausted resources in the Petroleum Fund, minister of state for Planning David Bahati has said. Government in the previous financial years since the establishment of the Petroleum Fund by the Public Finance Management Act (PFMA), 2015 has been withdrawing money to finance the budget. The fund is overseen by the Bank of Uganda
The Iran’s Vice President for Science and Technology Sorena Sattari visited Uganda last week to set up new trade relations with the pearl of Africa just a month to the United States oil ban. The vice president met the president of Uganda Yoweri Museveni in Kampala on Tuesday. In the meeting, Sattari revealed that Tehran
According to Mike Spear, industrial cyber security global operations director at Honeywell, cyber attacks in the oil and gas sector increased over the past year. “You’re looking at about 365,000 new malware every year … that’s like four per second, “What we’re seeing is in the space, or in what we call the process industries
The Tanzania Petroleum Development Corp. (TDPC) managing director, Kapuulya Musomba, has confirmed that Uganda’s natural-gas pipeline will start in 2021. In an interview at the oil and gas conference, Musomba stressed that 29 companies are interested in conducting a feasibility study and constructing the pipeline that will pump gas to iron and steel factories in western
Over 1000 government official from 40 countries around the globe have are expected to attend the 7th Annual Mineral Wealth from October 2nd- 3rd 2018 to be held at Kampala Serena hotel. The conference is organized by Uganda Chamber of Mines and Petroleum (UCMP) in partnership with the Ministry of Energy and Mineral Development through the Directorate of Geological Survey
A 3.7 billion dollar Marcellus Pipeline in America has been exposed to the risk of incurring extra operational costs when federal agency ordered all work on the project to stop. This followed a directive from a U.S. appeals court’s order a few weeks ago to eject two key permits for the project. The construction of the
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