Somalia looks more likely to strike oil than gas in its long pursuit of offshore riches, making it easier for the African state to exploit any windfall but also potentially upsetting the fragile recovery led by its Western-backed government. The waters off Somalia, best known for years of piracy, may harbour hydrocarbons at a depth
Here’s how Pieces of Legislation in East Africa are setting the Oil Sector on Solid ground
Diana France and Michael Burgess of Holman Fenwick Willan and Isaac Kabuye of the Ugandan Directorate of Petroleum assess recent reforms to the legal framework for oil and gas exploration and production within Kenya, Uganda and Tanzania, aimed at encouraging foreign direct investment, and modernising sectoral regulation. At the time of the oil price drop
Stanbic Bank eyes Financing Uganda Oil and Gas Industry Players—Papers
Stanbic Bank, one of the lead players of Uganda’s banking sector says is planning to rolled out specific financial services targeting the oil and gas industry, Daily Monitor reports. While officially opening a new branch in the oil-rich Hoima, the banks Executive Director Kevin Wingfield said Stanbic Bank has prioritized the oil and gas industry
Nigeria: Blast Hits One of Major Oil Pipelines in Nigeria
A blast on Tuesday rocked a pipeline operated by Nigeria’s state-run oil firm that feeds the Forcados terminal in the southern Niger Delta energy hub, a spokesman for Nigerian National Petroleum Corp (NNPC) said. The explosion occurred while the pipeline was being repaired following an attack last week, NNPC spokesman Garba Deen Muhammad said. A
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DR Congo Steps up bid to Join Uganda Oil Pipeline Project, Sends Delegation to Tanzania
Democratic Republic of Congo (DRC) sent a delegation to Tanzania to negotiate a joint oil exploration deal in lake Tanganyika and also lobby its entry into the Uganda-Tanzania oil pipeline project. Local media in Tanzania reported that the Congolese delegation is led by oil minister, Aime Mgoi Mukena Lusaduese and has held talks with senior
Energy Minister Irene Muloni Says Total Has Accepted to buy 10% Stake in Uganda Oil Refinery
French oil giant Total SA, one of the leading players in Uganda’s oil fields, agreed to take a 10 percent stake the proposed oil refinery project, Energy Minister Irene Muloni said. Negotiations with a group of investors led by RT GlobalResources LLC, a unit of Rostec State Corp. of Russia, on the construction of the
Uganda, Tanzania Agree on Technical and Fiscal Framework of the Joint Pipeline Project
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