All Not well in Norway’s Oil Town as the ‘low price effect’ hits harder

By AFP… Sparkling wine instead of champagne, companies cancelling their Christmas celebrations, unemployment soaring and real estate prices flagging: with crude prices plunging from record highs, Norway’s oil capital Stavanger is hungover after the party. “There you go, another rejection.” Roger Schurmeyer holds up the umpteenth job rejection letter he has received on his smartphone.

Continue Reading →

Global Witness finds gaps in Uganda first Oil exploration licensing round—See full statement

Statement by Global witness…. The Government of Uganda‘s decision to publish the companies shortlisted to bid for its latest round of oil contracts is an important step forward for transparency in the country. However, the organisation highlighted the need to carefully scrutinise companies’ environmental and social records, especially given the sensitive nature of the regions

Continue Reading →

Tullow Oil affirms faith in Uganda and regional Oil sector

Tullow Oil plc has affirmed its business hopes and strength in the East African oil and gas industry in a latest statement that  summarize recent operational activities and trading guidance of the new financial year 2015. The UK based Multinational noted that the legal and institutional investments in the region  present a level playing field which

Continue Reading →