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Shs1.2 Trillion Kabalega International Airport To Start Operations In October, Set To Intensify Oil & Gas Investments, Activities

Taddewo William Senyonyi June 22, 2023June 22, 20230

Kabalega International Airport is nearing completion Kabalega International Airport, Uganda’s second international airport after Entebbe, will be ready to start air cargo operations by October 2023, the contractor has said. Located in Kabalega Industrial Park in Hoima district, the airport will be used to airlift the equipment that will be

CNOOC Uganda, Contractors Of The Kingfisher Oilfield Donate Shs1.84bn To Entebbe Children Welfare School

BusinessFocus Reporter June 15, 2023June 15, 20230

Representatives of CNOOC Uganda and contractors of the Kingfisher Oilfield Project handing over the cheque to Entebbe Children Welfare School CNOOC Uganda Limited, in collaboration with contractors of the Kingfisher Oilfield Project, has announced a significant donation to the Entebbe Children Welfare School, an educational institution serving vulnerable and disadvantaged children

Oil & Gas

Global Oil Demand To Slow Significantly by 2028

BusinessFocus Reporter June 14, 2023June 14, 20230

The International Energy Agency (IEA) has released its latest medium-term market report, signaling a notable deceleration in the growth of global oil demand in the coming years. According to the report, current government policies and market trends indicate a 6% increase in global oil demand between 2022 and 2028, reaching

News Oil & Gas

Oil Companies Protest Hiked Food Prices In Bunyoro

BusinessFocus Reporter May 25, 20230

President Museveni a few months ago launched the oil rig at Kingfisher in Kikuube District. The Kingfisher area is operated by CNOOC Uganda Companies working to develop oil and gas in the Albertine region are bitter that their suppliers have hiked prices for food. The companies have indicated to our

Oil & Gas

Why Total & Africa Oil Abandoned Kenya’s Oil Project

BusinessFocus Reporter May 24, 20230

Two joint partners in Kenya’s quest for oil in Turkana have quit the project, exerting new pressure on the main operator Tullow Oil, which has been unable to take the exercise off the ground after the British oil explorer ran out of cash. Africa Oil says it abandoned the Kenya

Oil & Gas

Tullow Gets 100% Stake In Kenya’s Lokichar Basin

BusinessFocus Reporter May 23, 20230

Tullow Oil, the global independent oil and gas firm says it is to assume a 100% stake in Kenya’s South Lokichar Basin project. On Tuesday, Tullow Kenya said it has been informed by its two minority partners of their intention to issue notices of withdrawal from Blocks 10BB, 13T, and

News Oil & Gas

More Oil Discovery Expected As Uganda Earns Shs7.4bn From 2nd Licensing Round

BusinessFocus Reporter May 15, 2023May 15, 20230

Energy Minister Ruth Nankabirwa hands over the exploration license to M/S Armour Energy Uganda (SMC) Ltd official (Left) as Finance Minister, Matia Kasaija looks on The Government of Uganda has earned US$ 2 million (about Shs7.44bn) from the second oil licensing round in the Turaco Block. While issuing the Production Sharing Agreement to M/S

Oil & Gas

EACOP Needs US$ 1.8 Billion Debt To Kickoff – Nankabirwa

BusinessFocus Reporter May 12, 20230

The East African Crude Oil project is seeking a 1.8-billion-dollar debt for construction to take off. The project has been estimated to cost between $3.5 billion and $4 billion, of which 60 percent comprises debt raising and 40 percent equity. Energy and Minerals Development Minister, Ruth Nankabirwa on Friday said

International News Oil & Gas

Shell Reports Stronger Than Expected Profits

BusinessFocus Reporter May 4, 2023May 4, 20230

Oil and gas giant Shell has reported a stronger than expected profit of $9.6bn (£7.6bn) for the first three months of the year. The figure was higher than the same period last year despite a slide in energy prices. Fossil fuel firms have been reaping record profits due to a

Oil & Gas

Uganda Set To Host Inaugural Oil And Gas Skills Expo To Support Growing Sector

BusinessFocus Reporter April 19, 20230

Ali Ssekatawa, the Director Legal and Corporate Affairs at the PAU Uganda’s oil and gas sector is transitioning from exploration to development, with several flagship projects underway, including the Tilenga and Kingfisher projects. To support the growth and development of the sector, the Petroleum Authority of Uganda (PAU) is partnering