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
Nigeria is set to get a large oil and gas investment from Shell Petroleum Development Company in the amount of about $15 billion, according to the Lagos-based newspaper ThisDay, citing managing director of the unit, Nosa Okunbor. The company operates under a joint venture between the Nigerian National Petroleum Corporation, Royal Dutch Shell Plc, Total
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)
Tullow Oil, an Independent oil explorer has issued a statement confirming great hope in the new year 2019. The company believes for growth in its oil production by 10%. The statement was issued on Wednesday and Tullow based its claim on the successful drilling program at its Ghanaian assets. “Tullow is well-placed to deliver on
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