Oil & Gas

April 22, 2021

Hussein Amin Is Wrong on Uganda’s Share of Oil Revenues

Mr. Hussein Lumumba Amin’s assertion that Uganda got a bad deal from the oil and gas projects, and that it will only earn $5 per barrel, is not only factually wrong but does not make logical sense. Mr. Amin ignorantly mixes up the economics of the upstream with the midstream. To understand the gover…

Deep Earth Admin

4 min read

April 22, 2021

Bollore Wins East Africa Oil Pipeline Logistics Bid

Bollore Logistics, the international freight logistics firm, has been chosen as the best bidder for the transportation and storage of major equipment needed for the construction of the East African Crude Oil Pipeline (EACOP), according to our sources. Bollore beat two other international companies –…

Deep Earth Admin

2 min read

April 16, 2021

Uganda Oil Production Closer After EACOP Project Launch – Minister

The signing of key oil and gas agreements on Sunday, April 11, 2021, was a major requirement for the announcement of the Final Investment Decision (FID) and a historic milestone in Uganda’s journey to First Oil, Dr. Mary Goretti Kitutu, Uganda’s Minister of Energy and Mineral Development, has said. …

Deep Earth Admin

3 min read

August 25, 2017

Stanbic places hope in oil sector for rebound.

Stanbic bank estimates Uganda’s economy will rebound to the 5 percent growth levels partly as a result of the expected investments in the oil and gas sector. While releasing its half-year numbers for 2017, where the bank’s profit after tax dropped by 11 percent to Shs 95 billion compared to the same…

Deep Earth Admin

2 min read

October 22, 2016

Kenya-Uganda pipeline: Let`s get it right this time

Around midday on Friday, February 1, 2013, a significant meeting took place at the Ministry of Energy offices at Amber House, Kampala Road. The names of the companies vying for the construction of the Kenya-Uganda petroleum pipeline from Eldoret to Kampala were unveiled. With that, a vital topic was…

Deep Earth Admin

5 min read

October 22, 2016

Tullow Oil virtually static despite forecast of strong growth

Tullow Oil recently said 2013 financial results are expected to deliver strong revenue and gross profit growth and operating cash flow of $1.9bn reflecting growth in production and stable oil and gas prices. Following a successful $650m debut bond issue in November 2013, Tullow’s balance sheet is we…

Deep Earth Admin

4 min read

October 21, 2016

Marathon Pumps Up Eq. Guinea’s Gas Production

American independent Marathon Oil has achieved first gas production through its new Alba B3 offshore compression platform off Equatorial Guinea. Production from the B3 platform allows Marathon Oil to convert approximately 780Billion cubic feet (or130 million barrels of oil equivalent),of proved unde…

Deep Earth Admin

1 min read

October 21, 2016

Vertex Assumes the Largest Share of First Hydrocarbon Nigeria (FHN)

Vertex, an Upstream Nigerian independent funded by African Capital Alliance (ACA), has taken 40% of First Hydrocarbon Nigeria FHN, in a new shareholding structure of the latter. The company is one of two new equity holders of FHN, buying into what used to be Afren’s 70% of FHN. The other newcomer is…

Deep Earth Admin

2 min read

October 21, 2016

Total in last pitch for Tanga pipeline route

Patrick Pouyanne, the Chief Executive Officer of France’s Total Group, held a meeting with President Yoweri Museveni in Jinja just before Christmas, where the two discussed the need for Uganda to mainly consider the financial implications while choosing which route the country’s crude export pipelin…

Deep Earth Admin

3 min read

October 21, 2016

Wapakhabulo to head Uganda NOC

Dr Josephine Kasalamwa Wapakhabulo, will become the first ever CEO of the Uganda National Oil Company Ltd (UNOC), when her appointment takes effect on August 1, 2016. A statement signed by Emmanuel Katongole, the Chairman of UNOC, notes that the Board of Directors is confident that Dr Wapakhabulo wi…

Deep Earth Admin

2 min read