By Ali Ssekatawa In October 2022, international oil companies reported record profits because of high crude oil prices. Exxon Mobil broke records with its profits in the third quarter, raking in US$19.7b in net income, a nearly US$2b increase from its second quarter. TotalEnergies SE posted a sharp jump in
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President Museveni launched the commencement of drilling of the oil wells for the Kingfisher oil field Uganda’s oil industry registered another key milestone on January 24, 2022, with the launch of the spudding (commencement of drilling of the oil wells) for the Kingfisher oil field. CNOOC Uganda Limited operates the Kingfisher
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Ernest N.T. Rubondo, the Executive Director at Petroleum Authority of Uganda says about $580 Million (Shs2.13 trillion) is expected to be invested in KFDA in 2023 Ugandans are increasingly benefiting from the ongoing oil activities . Speaking at the commissioning of spudding(Commencement of Drilling) of Kingfisher Oilfield wells on Tuesday in Buhuka,
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President Museveni (in white shirt) is joined by other officials to commission the spudding(Commencement of Drilling) of Kingfisher Oilfield wells. President Yoweri Museveni Tuesday officially commissioned the spudding/drilling of oil wells for Kingfisher oilfield in Buhuka, Kikuube district as Uganda moves to have her first oil in 2025. This is
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Cabinet has approved the application by the East African Crude Oil Pipeline Company Limited for a license for the construction of the 296 km long East Africa Crude Oil Pipeline in Uganda. The State Minister of Information Communication Technology – ICT and National Guidance, Godfrey Baluku Kyabyanga, and officials from
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An aerial view of the Kingfisher oil field. Ugandan companies earned Shs3.5 trillion in the exploration stage of oil and gas/Business Focus photo. The Cabinet has finally given green light to the Energy Ministry to grant exploration licenses and sign production-sharing agreements (PSA) for two oil exploration blocks in the
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The Albertine Graben Refinery Project in Hoima will be one of the big oil and gas infrastructure projects to look out for in 2023 in Uganda and Africa. The 60,000 barrels per day refinery is one of the 70 new oil and gas projects that are expected to take off
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The first drilling rig at the Kingfisher Project operated by CNOOC. President Museveni was supposed to Commission the rig on 20th December Following the Final Investment Decision, the commencement of field development, and the arrival of the rigs, there is hope that Tilenga and Kingfisher Developments in the Albertine will
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Speaking during the U.S.-Africa Leaders Summit, having taken place in Washington D.C. on 13 December, Equatorial Guinea’s Minister of Mines and Hydrocarbons and OPEC President for 2023, H.E. Gabriel Mbaga Obiang Lima, discussed the importance of oil and gas development in Africa and how exploitation of the continent’s natural resources
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The Works and Transport Minister, Gen. Edward Katumba Wamala, has vowed to fight tooth and nail to ensure that all driving jobs in the oil sector are exclusively given to Ugandans. Gen Katumba said that he has already recieved information from oil companies that there are no Ugandans with the required
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