The Nigerian National Petroleum Corporation (NNPC) has secured a US$1.2bn multi-year drilling financing package The money will be used for 36 oil wells under the NNPC and Chevron Nigeria joint venture, according to a statement by Ohi Alegbe, general manager of group public affairs division at NNPC. Of the 36 wells, 23 are onshore and
Global Witness questions UK Serious Fraud Office for neglecting Oil firm Case in DR Congo
Statement by Global Witness Last month it was revealed that the UK’s Serious Fraud Office (SFO) would investigate a British oil company that had been making payments to officials in a highly unstable African country. The company was paying figures connected to the local government as it attempted to secure its business interests in the
British Oil firm Solo to widen investment in Tanzania despite half-year loss
British based Solo Oil said it will continue to actively assess new investment opportunities in Africa and elsewhere despite the oil market uncertainty. The company said its pretax loss widened in the first half of 2015 and said its investments in the Kiliwani North gas field in Tanzania and the Ruvuma production sharing agreement in
Kenya to auction inaugural ‘Oil Exploration Licenses’ in 2017
Kenya is planning to hold first oil exploration licencing in 2017, Uganda Oil has learnt. The National Oil Corporation of Kenya (NOCK) has invited bids from contractors to gather comprehensive data on several shallow blocks off Lamu to help attract exploration firms ahead of the anticipated auction of exploration rights. “The multi-client surveys and studies
Analysis: How Oil and gas revenue expectations lured Uganda into ‘debt trap’
ANALYSIS A decade of decadence has come to an end for African oil producers. International oil prices have fallen from last summer’s $100 per barrel highs, to averages of $56 in the first half of this year. After generating hundreds of billions of dollars in wealth over a commodities super-cycle, Africa’s big oil producers are
Nigeria and Angola Oil industry more attractive than the rest of Africa—New report
Nigeria and Angola present attractive growth and operational expansion opportunities for manufacturers in the offshore oil and gas paints and coatings market, according to a report by Frost & Sullivan, a South African-based growth partnership company. With raw material availability and local manufacturing capabilities catalysing production and supply lines, the two countries are rapidly emerging
Uganda to sign refinery deal in October as investors raise concern over land and roads
The government of Uganda expects to conclude the first negotiation phase of the 60,000 bpd refinery development project come October 2015 and embark on signing of the Final Investment decision Uganda Oil has learnt. The revelations were made by the Principal Engineer of the Refinery at the Directorate of Petroleum, Steven Enach at the closure
Experts advise Uganda to ‘go slow’ on Oil and gas investments
Uganda and other Prospective Africa oil producers should reconsider capital inputs undertaken at the upstream stage of the oil and gas industry, to insulate society from the economic mayhem this can create. The call was made at a stakeholders meeting organised by The Leo Africa Forum, an organization created to provide a platform for quality dialogues on
Uganda Parliament approves Members of National Board of Petroleum
Uganda Parliamentary Appointments committee approved the members of the new national Board of the Petroleum Authority. The Board of the Petroleum Authority vetted Dr. Jane Nambakire Mulemwa as Chairperson and two members to the board counsel; Kiryowa Kiwanuka and Eng. Patrick Nakoko Masuba. Mr. Michael Olupot Tukei was also vetted as the Deputy Executive Director
Global Market Researcher release Tanzania Oil and Gas Strategic Analysis and Outlook to 2025
Research and Markets, the leading research and consulting service providers for the oil and gas industry, recently published the “Tanzania Oil and Gas Strategic Analysis and Outlook to 2025”. The premier report provides analysis of key opportunities and associated challenges facing Tanzania oil and gas industry. The report details key strategies of the government of