How Can Ugandans Benefit from an Oil Windfall? Policy Options to Manage Petroleum Revenues

How Can Ugandans Benefit from an Oil Windfall? Policy Options to Manage Petroleum Revenues

Courtesy of resourcegovernance.org Uganda is on the path to becoming a significant oil producer in the next decade, with production potentially reaching over 200,000 barrels per day. Under the right economic and fiscal conditions, such a level of production would generate substantial public revenue that could catalyze economic growth through public investments in infrastructure, education and other … Continue reading

Kenya awaits World Bank board approval of Kshs.4 billion for multi-agency training

Kenya awaits World Bank board approval of Kshs.4 billion for multi-agency training

Kenya is awaiting the approval of $50 million dispatchment as part of the Kenya Petroleum Technical Assistance Project (KEPTAP) that targets to train government agencies including the energy ministry, treasury, National oil Corporation, Kenya Pipeline, Energy Regulatory Commission, State law office among others. The decision that is expected to be known by August will see … Continue reading

Eni signs cooperation agreement with Republic of Congo

Eni signs cooperation agreement with Republic of Congo

The Congolese Minister of hydrocarbons, André Raphael Loemba, and Eni CEO, Claudio Descalzi, in the presence of President of Congo Dennis Sassou Nguesso and the Italian Prime Minister, Matteo Renzi, today signed in Brazzaville a cooperation agreement which states Eni’s intention to pursue new initiatives in the Congolese coastal basin, which extends from onshore Mayombe … Continue reading

Swala Energy to sink exploratory well in Nyanza Kenya in 2015

Swala Energy to sink exploratory well in Nyanza Kenya in 2015

Swala Energy has announced it will be drilling its first exploratory well in Kenya’s block 12B in 2015. The company says the decision follows positive data from the 2D seismic acquired in the block that was completed in the month of June covering 350 kilometers. Under the terms of the production sharing contract the joint … Continue reading

Somaliland oil explorations delayed as companies await Oil Protection Unit

Somaliland oil explorations delayed as companies await Oil Protection Unit

Sterling energy which has operations in the Odewayne block has said it has halted its operations in the horn of African country until the country establishes an oil protection unit. Sterling whose interest in Somaliland are carried by Genel Energy says among activities delayed include seismic and drilling which currently cannot be operated safely. “Operations … Continue reading

Somali government Mubadala Petroleum sign partnership agreement

Somali government Mubadala Petroleum sign partnership agreement

Mubadala Petroleum a subsidiary of Abu Dhabi’s Mubadala Development Company has signed a cooperation agreement with the Ministry of Petroleum and Mineral Resources of the Federal Republic of Somalia. The agreement is the result of a high level engagement took place between the U.A.E. and the Federal Government of the Republic of Somalia and its … Continue reading

Tullow Oil to challenge the Tax Appeals Tribunal ruling in Uganda

Tullow Oil to challenge the Tax Appeals Tribunal ruling in Uganda

Tullow Oil plc has announced that its subsidiaries operating in Uganda have received a ruling from the Tax Appeals Tribunal (TAT) in Uganda relating to Capital Gains Tax (CGT). The ruling means that Tullow will be tasked with be paying the reminder of $265m to the Uganda revenue authority (URA) after the tribunal calculated Tullow’s … Continue reading

Swala Energy requests trading halts ahead of Kenyan announcement in Block 12B

Swala Energy requests trading halts ahead of Kenyan announcement in Block 12B

Swala Energy has requested a trading halt to last until an announcement is made which it expects to occur before the commencement of normal trading on Monday 21 July in relation to the Block 12B Joint Venture in Kenya. The block which is operated by Tullow Oil with 50% equity interest recently saw the completion … Continue reading

Ugandan journalists to get Oil and gas training

Ugandan journalists to get Oil and gas training

Bloggers, alternative media producers, online journalists, TV/radio producers will in August receive training on oil and gas from various experts including the petroleum exploration and production department (PEPD), oil companies, service providers, donor agencies, civil society as the country nears oil production. According to the organizers of the training of the fourth estate will ensure … Continue reading

Orca Exploration Group in talks with third parties regarding potential sale or significant transaction

Orca Exploration Group in talks with third parties regarding potential sale or significant transaction

Orca Exploration Group which has its operations in Tanzania and Italy has advised that the Company is in discussions with a number of third parties which have made unsolicited approaches to the Company relating to the sale of the Company, a significant asset disposal, strategic investment or other transaction involving the Company. In the statement … Continue reading