A series of attacks on Nigeria’s oil infrastructure has pushed its output of crude close to a 22-year low, Reuters data shows, putting intense pressure on the country’s finances. Shell workers at Nigeria’s Bonga oilfield in the southern Niger Delta were evacuated following a militant threat, a senior labour union official said on Monday, while
A fee of $12.2 will be levied on each barrel of oil from Uganda going through the proposed Hoima-Tanga crude oil pipeline. According to the technical report which formed basis for Uganda’s decision to settle with the southern route, the tariff is considered least compared to $17 (or higher) estimated for the route from Hoima
Undercover reports emerging from the talks between Kenya and Uganda on Crude oil routing options indicate that Uganda has finally settled with Tanzania’s port Tanga as the Oil exit point. A senior Kenyan official told the The East African newspaper on Saturday that Uganda had stuck to the route between Hoima and Tanzania’s Tanga Port route instead of
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Kenya and Uganda’s presidents and oil company executives will meet today Monday 21, 2016 for discussions on a route for a pipeline to transport the two countries’ oil, the Kenyan president’s confirmed. Resolving the pipeline route is crucial to helping oil companies involved in Uganda and Kenya to make final investment decisions on developing oil
Nigeria’s state-run oil firm withheld some 3.2 trillion naira ($16.2 billion, 14.6 billion euros) from the sale of crude oil in 2014, according to a government report from auditor-general Samuel Ukura. “From the examination of NNPC (Nigerian National Petroleum Corporation) mandates to (the) CBN (Central Bank of Nigeria) on Domestic Crude Oil sales… (the) amount
Kenya and Uganda officials are set to meet purposely look into the way forward for the much uncertain fate of the of Uganda Oil pipeline route, Kenya state Owned KBC television reported. The deal between the two nations fell on uncertain grounds after Uganda indicated it was considering having its crude export pipeline southwards to
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By Agencies… Nigeria and Angola, Africa’s two biggest oil producers, are both in talks with the World Bank about support to help cope with low crude prices, weakening currencies and strained public finances. Nigeria has held exploratory talks with the World Bank on borrowing to help fund a record budget in 2016 but has not