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Uganda Oil and gas sector in 2015, progress haunted by the uncertain Crude Oil market

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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…

The ‘not so good’ awaiting Nigeria Oil industry amid the threat of falling prices in 2016

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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…

Bunyoro Kingdom officials ask Uganda government for Oil revenue share ahead of commercial production

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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…

New Reservoir discovery makes ‘Africa Oil’ stronger in Kenya Oil sector

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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…

OPEC says Oil prices will recover by 2020

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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…

Here is why market analyst Goldman Sachs says Oil prices may fall to $20 per barrel in 2016

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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…

Pan Africa Energy Tanzania draws $20 Million from International Finance Corporation to finance gas Field

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Orca Exploration Group ¬†announced that its subsidiary, Pan African Energy Tanzania Limited (PAET) has made an initial draw-down of US$20 million from the available US$60 million International Finance…

Video: Ugandan Civil society rally the world to demand Transparency in Oil sector in New Campaign

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The first time Ugandans heard about their government receiving any monies from the oil sector, was about the tax-gains dispute between Uganda Revenue Authority and Tullow Oil plc…

Crude Oil price shocks the world, trades below $35 per barrel in New York

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By agencies… Oil fell below $35 a barrel in New York for the first time since 2009 as Iran reiterated its pledge to boost crude exports, bolstering speculation…

Crude Oil Prices are likely to fall below $40 in 2016 says Market analysts

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Agencies… As crude oil prices continue their dramatic decline after a refusal by the Organization of Petroleum Exporting Countries (OPEC) to cut production, the key question now is,…