The Trade, Industry and Cooperatives minister, Amelia Anne Kyambadde, has told a high level meeting with a senior World Bank official that oil and gas remain one of Uganda’s strategic plans for the country to attain middle income status by 2020. Uganda is expected to start the official production of oil by 2019 according to
Ugandan President Yoweri Museveni and his Tanzanian Counterpart, President John Pombe Magufuli finally over the weekend put pen to paper by signing the East African Crude Oil Pipeline Agreement (EACOP) a move that is expected to pave way for studies to explore the possibility of building a pipeline to the Tanzanian port of Tanga. The
UK based Tullow oil Plc and French’s Total, through subsidiaries in Uganda called for applications from engineering firms to provide infrastructure works design for oil wells as nation strives to live up to its 2020 commercial production timeline. The two, together with their Chinese partner China National Offshore Oil Company (CNOOC) are the leading industrial
OPEC agreed on Wednesday its first oil output cuts since 2008 after Saudi Arabia accepted “a big hit” on its production and dropped its demand on arch-rival Iran to slash output. Non-OPEC Russia will also join output reductions for the first time in 15 years to help the Organization of the Petroleum Exporting Countries prop
Oil firms including China’s Sinopec have expressed an interest in developing Uganda’s planned oil refinery and an investor for the project will be selected by February 2017, a top government official said. Uganda which discovered oil fields in 2006 but has yet to start production, began trying to secure a private investor for the project
Royal Dutch Shell and its partners — Pavilion Energy and Ophir Energy — announced last week commencement of gas drilling off the coast of Tanzania in a $80 million investment project. The drilling will cover two wells in Block 1 and 4, located in the offshore Mafia deep basin and with each depths of up
Uganda Minister of Energy and Mineral Development (MEMD) Irene Muloni said the country’s oil sector is poised for a promising business destiny despite the current delays and setbacks in the midstream preparations. Speaking to a gathering of key industrial players including; potential investors, International Oil companies (IOCs), local players and officials from different associate institutions
Uganda aims to sign deals by the year-end with the four oil exploration companies it had invited for talks in its first licensing round, a senior energy ministry official said on Wednesday. Those selected to negotiate production sharing agreements (PSAs) were Nigeria’s WalterSmithPetroman Oil Ltd, Oranto Petroleum International and Niger Delta Petroleum Resources, and Australia’s
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
Output from Ugandan crude deposits being developed by companies including Tullow Oil Plc and Total SA is unlikely to be exported as soon as the nation expects because of the scale of the infrastructure projects required to transport the fuel out of the country, bloomberg reports. The government of Uganda, where oil was discovered in 2006,