Uganda risks losing trillions of shillings in recoverable costs to oil companies, says Parliament’s Public Accounts Committee (PAC). This is a result of Ministry of Energy and Mineral Development’s failure to demand oil reports from the oil companies. The committee members while meeting the officials from Energy Ministry led by
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London-based oil explorer Tullow on Wednesday said it had pumped additional $2.9 billion (KSh293 billion) into the operation targeting full-scale export of Kenya’s oil to begin in four years’ time, reports the Daily Nation. Tullow, which has already spent more than $1 billion (Sh101 billion) in exploration activities over the
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Fuel pump prices have already hit the Shs4,000 mark in some parts of the country, a development that has seen many Ugandans ask why the sudden rise. Against the above background, on 31st January, 2018, Mohammed Nsereko, the Kampala Central MP raised concern on the floor of Parliament over the
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There’s increasing uncertainty about the drilling and production of Uganda’s oil, with some locals in the oil-rich Bunyoro suspicious of the ongoing activities. On Wednesday, Dokolo Woman MP, Cecilia Ogwal, raising a matter of national importance regarding the revenue accruing from petroleum resources on the floor of Parliament, revealed that
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By Patrick Kiconco Katabaazi I have read various posts on facebook and other social media platforms where people are complaining bitterly about the rising fuel prices. Many social media enthusiasts wonder why oil prices are rising when the Budget Frame Paper is yet to be approved by parliament. Others have
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Tullow Oil has over the last one year substantially reduced its number of employees in Kenya. This has been through failure to renew contracts that were up for renewal in the course of the year as well as actual layoffs, where employees were sent home after being given a send-off
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Fuel pump prices are increasing in Uganda, a development that has seen transport fares go up in some parts of the country. Currently, a litre of petrol in Kampala is averaging Shs3, 800, up from an average of Shs3, 600 a fortnight ago. In Western parts of Uganda, a litre
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Nigeria’s House of Representatives passed a bill governing the country’s energy sector after the Senate did so in May, taking Africa’s top oil producer one step closer to a much-awaited overhaul of the key industry, reports Bloomberg. The Petroleum Industry Governance Bill now awaits President Muhammadu Buhari’s signing to become
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Total Uganda, one of the leading integrated oil and Gas Company has unveiled a new cashless payment solution for its customers. This is aimed at increasing convenience at all its 128 service stations countrywide and empower motorists to manage their spend better. The new Total card was launched on Wednesday
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The case against oil giants ENI and Shell on allegations of corruption in Nigeria could be one of the biggest corporate corruption trials in history, says Global Witness. The anti-corruption watchdog reacted after a judge said the case is going to be heard in an Italian court next year after
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