Uganda aims to sign deals by the year-end with the four oil exploration companies it had invited for talks in its first licensing round, a senior energy ministry official said on Wednesday. Those selected to negotiate production sharing agreements (PSAs) were Nigeria’s WalterSmithPetroman Oil Ltd, Oranto Petroleum International and Niger Delta Petroleum Resources, and Australia’s
Total Promises Final Investment Decision for Uganda Oil Field by End-2017
Total’s President for Exploration and Production Arnaud Breuillac said that the French major is actively moving towards a final investment decision as early as end-2017 for its onshore oil project in Uganda. Breuillac’s statement comes on the backdrop of three production licences granted to Total E&P Uganda BV (Total’s subsidiary) by the government of Uganda
Tanzania Private Sector Organize meet to Review Opportunities Available in Uganda Oil Pipeline Project
Tanzania businessmen are set to deliberate on the opportunities Uganda crude oil pipeline presents to the country as a way of strengthening local participation in the oil and gas industry. The workshop, organised by Tanzania Private Sector Foundation (TPSF) and Petro Fiorentini, expects to unveil opportunities available before, during and after pipeline construction. The organizers
Uganda Petroleum Authority Boss Appeals to Locals to Prepare for Opportunities in Upcoming Oil Exploration works
The Executive Director of The Petroleum Authority of Uganda Ernest Rubondo urged Ugandan local service providers to take up opportunities in oil explorations set to start in the country soonest. Speaking at a dinner organised by Oil and Gas service providers in Kampala, Rubondo said the new oil exploration works presents opportunities worth trillions of
Tullow Oil Confirms Will Start Commercial Production In Kenya in June 2017
A statement from Kenya Presidency says Tullow Oil has confirmed will start commercial Oil production in June 2017 following President Uhuru Kenyatta’s directive to expedite exportation of Kenya’s first commercially viable oil. While briefing President Kenyatta at State House, Nairobi Tullow Oil Chief Operating Officer, Paul McDade, said his company has made good progress and
Price Slump opening way for Private Equity firms to Enter Oil industry—Ernst and Young Report
A recent report by Business Consultants Ernst and Young indicate that Private equity (PE) firms are preparing to invest in global oil and gas sector despite the recent slump in prices. The firm through a survey on about 100 PE firms observed that about 25 per cent of the PE firms are planning acquisitions before the
With the Road Option, Kenya expects Revenue from its oil by June 2017
Reports from Kenya indicate that the nation will reap its inaugural oil proceeds by mid-2017 despite the underlying challenge of routing to the sea port. Kenya’s Deputy Chief of Staff Nzioka Waita told local media in Nairobi last week that crude will be delivered to the port by via roads and railway as the nation
Global Oil Industry Analysts Goldman Sachs say Disruptions Like Nigeria Pipeline attacks Will resurrect Prices
Oil prices have been kept at low levels largely due to the glut in global supply. While low prices have been bad news for the industry and the oil-driven economies, producers have been reluctant to cut back for fear of losing market share. In the absence of voluntary production cuts, Goldman Sachs analysts say unplanned
Kenya Still at Crossroads on best Crude Oil export plan after flop of Deal with Uganda
Kenyan presidency said the nation is still at crossroads on the best option to transport it’s crude from the Turkana region to the port. Presidential spokesperson Manoah Esipisu said during a presser in Nairobi that “Our plans for the first oil extraction are on course and we are seized of the planning and implementing options on
Here is Why Ugandans Must work together to fight the secrecy around Crude Oil Export Pipeline Project
By Dickens Kamugisha… Late last month, a decision on the route Uganda’s crude oil export pipeline will take was agreed upon between Uganda and Tanzania. However, given that the decision was made by the government without our participation as citizens, we must quickly come together to discuss the consequences of such secretive decisions. Available evidence