As Crude oil prices continue to slide on the global oil market, the Organisation of Petroleum Exporting Countries (OPEC) has expressed Optimism on the performance of the market saying that the world oil demand will increase in the Second half of 2015 and 2016. OPEC made the observations in 167th Extra ordinary meeting held in
Oil and Politics: Nigerian president Buhari expected to takeover Oil Ministry
Newly elected president of Nigeria Muhammadu Buhari is expected to appoint himself as head of the Oil Ministry reportedly over the massive corruption in the industry sources have said. As the nation eagerly awaits for the new cabinet, a source in Nigeria told reuters that the oil sector is so dirty that nobody’s hands are
Uganda Ministry of Energy expert says Oil sector is attractive despite Oil price threats
In an article published by the New vision on May 7, 2015, investment experts cautioned Uganda to take careful strides as the nations looks to spending in the budding oil and gas sector. Experts observed that since the nation was entering a highly speculative and competitive market, it was prudent to observe major international oil industry
Crude Oil prices rise as multinationals to fight for market control
As oil market players continue to forge way forward for the low crude oil prices, a ray of hope lingered on market today as prices were hiked according to the latest United States Stockpile report. According to Bloomberg, US benchmark West Texas Intermediate (WTI) for July delivery rose 21c to $57.72 while Brent crude for July
World Bank asks Uganda to set sectors for the Oil and gas proceeds
The World Bank has asked the government of Uganda to prepare all sectors of the economy in order to tap the gains that come with the growth of the Oil and gas industry. The recommendations are entailed in a paper published by the Bank. The report aims at providing policy recommendations and strategies on key
Uganda Oil sector: Technology delays exploration and recovery works
The lack of sufficient technology is the major obstacle to the Exploration and Recovery exercise of Uganda’s Oil reserves in the Albertine graben. Bukenya Matovu, the head of communications at Uganda’s Ministry of Energy and Mineral Development said in a meeting with Leaders from the Western District of Kabarole on Thursday. Matovu said the Ministry is facing
Uganda parliament finds gaps in land compensation of the oil refinery construction project
As the government of Uganda plans to implement its decision to construct an Oil refinery to boost commercial gains in the budding Oil and Gas (O&G) sector, a parliamentary committee on natural resources has discovered gaps in the compensation and resettlement of people likely to be affected by the project. The Government identified 29 square
Oil prices drop in latest market shocker
The Oil market has registered a fall in Crude prices reportedly arising from oversupply, causing shock especially in the latest and prospective African Oil producers. Crude has registered a fall of a bout 65% according to market readers causing panic among dealers especially at a time when multinationals and other suppliers are employing measures to
MPs task government to clear anomalies in the Oil and Gas sector
Members of parliament on the Committee on Natural Resources have asked government to prioritize the compensation and resettlement exercise of Project Affect Persons (PAPs) in the refinery and pipeline development project before kickoff. In a report on the Ministerial Policy Statement and Budget Estimates for financial 2015/16, the committee notes that government has already established
Nigeria resumes gas exploration in all marked national fields
Nigerian National Petroleum Corperation (NPP) has called on its partners in the oil exploration exercise to speed up the search for the oil in all marked reserve areas, with immediate effect. This follows a directive from Nigeria Minister of Petroleum resources Diezani Alison-Madueke in which he asked the cooperation not to “leave any stone unturned” in