Kenya President Uhuru Kenyatta has given a ‘State House team’ until the end of January to work out on the logistics of transporting the crude oil from the oil fields in the Turkana region to the sea-port according to latest Reports. A source quoted by The East African newspaper, said the team has been asked
Export Pipeline needed to enable Commercialization of Uganda and Kenya Oil—Expert
With recoverable oil reserve estimates of approximately 750 MMbbl and 600 MMbbl in Uganda and Kenya, respectively, and with government share of the reserves expected to be about 30–50%, the potential impact on economic development in these countries could be great. However, new infrastructure, including an export pipeline, is required to enable commercialization of these
Kenya in preparation to see crude sales in 2016 as Uganda remains uncertain
Speculative media reports coming from Kenya say the country is in preparation to pump its Oil deposits from Lokichar valley to the International market in early 2016. According to Oil News Kenya, the nation’s leadership has reached significant discussions on the issue with the latest being using road transport means as the nation awaits the
French Oil Firm Total Attacks Ugandan Tax Using Investor-State Dispute Settlement (ISDS)
By Edward Ronald Segyawa and Frank Mulder…. The heavily criticized legal mechanism, known as ISDS, is an important tool for European companies to pressurize developing countries. This year Uganda joins the rank of developing nations asking themselves: “Why have we ever signed this?” Earlier this year, the French oil company Total filed a request for
Uganda Oil and gas sector in 2015, progress haunted by the uncertain Crude Oil market
The year 2016 comes with uncertainty yet 2015 no doubt has been a very successful year for Uganda’s Oil industry. It has been a year in which major oil and gas activities have been fast tracked since the industry was inaugurated. However, the uncertainty of the market has stalled the kickoff of major projects and
The ‘not so good’ awaiting Nigeria Oil industry amid the threat of falling prices in 2016
This coming year is shaping up to be a difficult one for economies that are disproportionately dependent on oil. This is especially true for Nigeria, where there’s a possibility of renewed conflict in the country’s oil-producing Niger Delta region, according to SBM Intelligence’s recently published “Nigeria in 2016” report. The global oil picture is stacked against countries like
Bunyoro Kingdom officials ask Uganda government for Oil revenue share ahead of commercial production
Officials from Bunyoro kingdom made a maiden visit to selected oil sites in the Albertine Graben and asked government to remit part of the proceeds from the oil revenues to the kingdom. Commercial oil production has not yet started in Uganda as companies Tullow Oil Plc, China National Offshore Oil Company (CNOOC) and France’s Total
New Reservoir discovery makes ‘Africa Oil’ stronger in Kenya Oil sector
Africa Oil announced that the Etom-2 well in Block 13T in northern Kenya has discovered 102 metres of net oil pay. The company in a press statement indicated that Oil samples, sidewall cores and wire line logging all indicate the presence of high API oil in the best quality reservoir encountered in the South Lokichar
OPEC says Oil prices will recover by 2020
By agencies… Oil producers’ group Opec has said it expects oil prices to recover to $70 a barrel by 2020. Prices have fallen from more than $110 a barrel in the summer of 2014 to less than $37 a barrel now due to oversupply and slowing demand. But Opec said oil prices would begin to
Here is why market analyst Goldman Sachs says Oil prices may fall to $20 per barrel in 2016
Agencies… American market analyst Goldman Sachs sees further weakness for oil due to the worsening of already weak fundamentals after OPEC held back from cutting production at its recent meeting. The investment bank is standing by its prediction of $20 a barrel bottom—the breakeven cash cost for highly levered high-cost US shale producers. If oil