Kampala — A group of Chinese companies have shown interest in partnering with Ugandan businesses to participate in developing the oil and gas sector of in Uganda. According to the Daily Monitor Newspaper, Speaking during a recent oil and gas conference hosted by Stanbic Bank Uganda in collaboration with the Industrial and Commercial Bank of
Uganda has so far discovered 6.5 billion barrels of oil resources in 40% of the explored area in the Albertine graben. OIL PRODUCTION The government has set up a resettlement planning committee for persons affected by the oil industrial area to be established in Buliisa district. The oil companies – Total E&P and Tullow –
Standard Bank Group’s Ugandan unit plans to raise $3 billion (€2.56bn) for a crude pipeline by the second half of next year as the east African country prepares to start oil production by 2020. According to The Irish Times, Oil and gas exploration company Tullow Oil, which was founded in Co Carlow, is jointly developing
The long-awaited works on taking Uganda’s crude oil to export markets started yesterday Saturday August 5, 2017 with President Yoweri Museveni and his Tanzanian counterpart Joseph Pombe Magufuli commissioning the construction of the 1,445km-long East African crude oil pipe line from Hoima district in Uganda to the Tanzanian port of Tanga. President Museveni arrived in
Uganda’s oil and gas industry has last week got a boost by unveiling the first ever National Suppliers Database of more than 290 approved firms to supply goods and services. According to the Independent Newspaper, The companies can now be accessed on the Petroleum Authority of Uganda’s website www.pau.go.ug. The move is in fulfillment of
Oil firms including China’s Sinopec have expressed an interest in developing Uganda’s planned oil refinery and an investor for the project will be selected by February 2017, a top government official said. Uganda which discovered oil fields in 2006 but has yet to start production, began trying to secure a private investor for the project
Uganda Minister of Energy and Mineral Development (MEMD) Irene Muloni said the country’s oil sector is poised for a promising business destiny despite the current delays and setbacks in the midstream preparations. Speaking to a gathering of key industrial players including; potential investors, International Oil companies (IOCs), local players and officials from different associate institutions
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
Tanzania approved a series fiscal packages in relation to the Crude oil pipeline partnership with Uganda including; exemptions on transit fee, import tax, withholding tax and value added tax. Cabinet expects to table the approved proposals to the Tanzania National Assembly in January 2017 according to Daily News newspaper. The revelations were made by Tanzanian
Output from Ugandan crude deposits being developed by companies including Tullow Oil Plc and Total SA is unlikely to be exported as soon as the nation expects because of the scale of the infrastructure projects required to transport the fuel out of the country, bloomberg reports. The government of Uganda, where oil was discovered in 2006,