Entebbe. The State Minister for Privatization and Investment, Evelyn Anite has revealed that Uganda will no longer face fuel shortages going forward after a new fuel reservoir/ storage facility at Bugiri/Bukasa zone in Katabi Town Council, Wakiso district starts operations come April next year. The Minister made the revelation today
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Dubai An attack on Saudi Arabia that shut 5 percent of global crude output caused the biggest surge in oil prices since 1991, after US officials blamed Iran and President Donald Trump said Washington was “locked and loaded” to retaliate. The Iran-aligned Houthi movement that controls Yemen’s capital claimed responsibility
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A lot has been written in the print media about how Uganda’s oil tax regime is delaying our prospect of joining the club of oil producing countries. During the Uganda-Tanzania business forum in Dar es salam last week, Tanzania President John Pombe Magufuli is reported to have asked president Yoweri
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Work on a pipeline that would transport crude oil 1,445 km (898 miles) from Uganda to Tanzania's coast has been suspended. Tullow Oil had planned to sell a stake in the $3.5bn (£2.8bn) project to state-owned Chinese firm CNOOC and French oil giant Total, but the deal collapsed last week
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Uganda’s Energy Ministry has stressed that Tullow must pay Capital Gains tax before it can be allowed to sell part of its stake to Total and CNOOC Uganda. Tullow confirmed earlier Thursday that their Sale and Purchase Agreements (SPAs) deadline had passed. The Ministry’s Permanent Secretary, Robert Kasande in a statement
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An agreement between Tullow Oil and two international oil companies to share the costs of developing a Ugandan oil field has been terminated, leaving Tullow to find new partners, Business Focus understands. It should be noted that on January 9, 2017, Total and Tullow entered into a Sale and Purchase
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In what has become a remarkable month for exploration in Africa, a CNPC-led consortium has made 300 million barrels of recoverable oil discovery in South Sudan’s northeastern Upper Nile state. It is almost as much as the Oyo Discovery announced earlier this month in Congo. The exploration well was drilled
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The recent onshore discovery made in the Delta de la Cuvette deposit in the Republic of Congo is a game changer for Congo and Africa. The discovery was announced on August 10th by SARPD Oil and PEPA, a Congolese consortium working as operators on the Block. Early projections indicate that
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Tullow Uganda Operations Pty Ltd Managing Director, Jimmy D. Mugerwa has been transferred to the Group’s head offices in London. It’s not yet clear what position he will hold but industry sources say he will Tullow’s regional boss while others say he will be the Group’s Director for Infrastructure and
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The Uganda National Oil Company (UNOC) has unveiled Proscovia Nabbanja (in featured photo) as the Acting Chief Executive Officer (CEO), replacing Dr. Josephine Wapakabulo, who quit the job for greener pastures. Wapakabulo will officially leave office tomorrow August 13, 2019, leaving Nabbanja to take full charge of the national oil
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