By Peter Abaanabasazi Land wrangles and court cases are the major obstacles affecting the progress for the tarmacking of the 100 kilometer Kabwoya-Kyenjojo oil road project funded by world Banks. Government in 2015 contracted Shengli Engineering Construction Co. Limited, a Chinese construction firm to tarmac the road at a cost
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By Reuters and Macharia Kamau Tullow Oil has stopped work at its Kenyan oilfield and halted trucking operations due to security issues, Chief Executive Paul McDade told Reuters on Wednesday. Tullow is aiming for a final investment decision on its $2.9 billion project in late 2019, which would open up
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Dangote Group, the West African conglomerate founded by Africa’s richest man, Aliko Dangote, has signed a $650 million (Shs2.4 trillion) loan facility with the African Export-Import Bank (Afreximbank) to enable him complete the $10 billion (Shs37.4 trillion) oil refinery and petrochemical complex he is building in Lekki, Nigeria. According to a
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Government through the Ministry of Energy and Mineral Development has spoken out on the possibility of oil being discovered in Kayunga district. “There is no oil in Kayunga district,” says Yusuf Masaba, a Communication Specialist at Ministry of Energy and Mineral Development. This is after Daily Monitor published two articles
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The government of the Democratic Republic of Congo has decided to allow oil exploration in two protected wildlife parks, Virunga and Salonga, the BBC reports. The move is strongly opposed by environmental activists, who say drilling would place wildlife at risk and contribute to global warming. Around one-fifth of Virunga
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OPEC members are discussing a compromise agreement that would see an oil production increase of between 300,000 and 600,000 barrels a day over the next few months, according to people briefed on the talks, Bloomberg reports. While Iran said on Sunday it’s opposed to any increase to current quotas, officials
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At least 100 business leaders across different sectors will benefit from dfcu Bank’s Oil and Gas local content skilling and sensitization program every month. As part of the Business Accelerator Program, dfcu has planned a series of workshops targeting multiple sectors that can potentially take up opportunities in the Oil
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Kenyan President Uhuru Kenyatta today declared a “great day for Kenya” as he flagged off the first consignment of crude oil destined for export from Kenya, which will lead to oil becoming a major contributor to the nation’s economy. The Standard reports that Kenyatta flagged off trucks loaded with crude
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Tanzania has directed multinational companies operating in the country's extractive sector to open local bank accounts so authorities can scrutinise their finances. The move is in line with new mining laws aimed at curbing illicit financial flows in the oil and gas subsectors. The companies are required to comply with
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Ugandan President Yoweri Kaguta Museveni on Sunday April 13, 2018 met investors from the MAN Group of India that specializes in the production of coating and insulation for oil pipelines, Business Focus understands. MAN is one out of four companies in the world that is in this line of business.
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