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Oil&Gas
- Tanzania has offered the Uganda National Oil Company (Unoc) to use the Dar es Salaam port for oil importation.
- This presents a strategic alternative amid the ongoing importation stalemate between Uganda and Kenya.
- The legal dispute between Uganda and Kenya over oil importation policies is pending before the East African Court of Justice (EACJ), with indications that Uganda may withdraw the case.
Tanzania has stepped forward with an enticing proposition that Kampala finds hard to ignore, especially regarding the ongoing deadlock in Nairobi-Kampala oil imports.
Tanzania has extended an offer to the Uganda National Oil Company (Unoc) to utilise the Dar es Salaam port for its fuel importation needs. This development comes as Uganda explores alternatives in response to Kenya’s steadfast position on Kampala’s oil importation demands.
Uganda’s grievance at the East African Court of Justice (EACJ) remains pending amid these unfolding events, casting a shadow of uncertainty over …
- The Uganda National Oil Company (UNOC) is directly importing petroleum products from Vitol Bahrain, aiming to reduce reliance on Kenyan firms and mitigate high fuel prices.
- UNOC’s direct importation and sale of fuel to OMCs in Tanzania and Uganda is a significant step towards fostering stronger regional ties, promoting economic growth, and ensuring energy security.
Uganda National Oil Company (UNOC) has started the sale of petroleum products to oil marketing companies in both Uganda and Tanzania.
This is part of a broader strategy to test the waters before UNOC embarks on a direct importation agreement with the global oil titan, Vitol Bahrain. This maneuver signals a new era in East Africa’s energy dynamics, especially following a cooling of relations between Uganda and Kenya over fuel supply mechanisms.
Breaking New Ground: Uganda National Oil Company Direct Importation Deal
For years, Uganda’s fuel supply chain was heavily dependent on Kenyan OMCs. However, …
- Taifa Gas broke ground at the Dondo Kundu Special Economic Zone next to the Port of Mombasa last Friday
- The firm supplies LPG for domestic, commercial and industrial use and has been feeding the Kenyan market by road.
- The company has been given 30 acres in Dongo Kundu to set up a 30,000 metric tonnes gas handling facility.
The entry of Taifa Gas into Kenya is expected to shake up the cooking gas retail market in East Africa’s economic power house, which has witnessed rising prices in recent years.
Taifa Gas broke ground at the Dongo Kundu Special Economic Zone next to the Port of Mombasa last Friday, at an event presided over by Kenya’s President William Ruto.
The company is investing about USD130 million (Ksh16.4 billion) in a Liquefied Petroleum Gas (LPG) import, storage and distribution plant, at the 3,000-acre Special Economic Zone. Taifa has been supplying LPG for …
Gas flaring challenge,
In the sub-Saharan region, approximately 75% of the population lives without access to reliable or stable energy. And yet, Africa flares around 40 billion cubic meters of gas(gas flaring), annually, of which 35 billion cubic meters are flared in sub-Saharan Africa. These statistics provided by ResearchGate highlight how much gas is being wasted and the importance of investing in solutions that minimise this in favor of changing the African power conversation.
Flaring does more than waste, it impacts citizens’ health. The ResearchGate analysis, for example, found that Nigeria flared 23 billion cubic metres annually, alone. And research by the Climate & Clean Air Coalition found that in Nigeria, some people had not seen the night sky for years. Around two million people along the Niger Delta living within kilometres of a gas flare that fights with the sun for dominance of the sky and they suffer …
For many in Africa, the concept of an electric vehicle is still new, by the time these futuristic automobiles become popular in Africa, land rights in the Congo may very well be buried deep in the cobalt mines.
Did you know, the Democratic Republic of the Congo produces more than half of the world’s supply of cobalt? You probably did not, neither did I. Here is another fun fact, did you know cobalt is the mineral that powers your phone battery, your laptop battery and most all your rechargeable batteries?
I bet you were also not aware that this bluish mineral that is found in a dull brownish ore of dirt is used in hospital labs for imaging, for cancer radiotherapy and even for sterilizing medical equipment.
Cobalt is also in the component that stores solar energy in the solar panels that have now become popular solution to Africa’s energy …
Total Uganda has bought out the financial struggling Tullow Oil for a whopping USD575 million as the latter gears up to leave the East African market.
The buyout will be paid in part by a USD 500 million initial payment payable upon completion and another USD75 million payable when the project pact is finalized.
With completion of the sell, Total Uganda will now own Tullow’s assets on the humongous Lake Albert Development project and the even larger East African Crude Oil Pipeline project. Tullow, a British owned conglomerate has been struggling and the just inked Uganda buy out will help improve its liquidity.
The move is not due to the ongoing global coronivrus pandemic, it is rather a strategic plan that was on the table long before the pandemic begun. At the start of the year, the sale and purchase agreement had already been signed, well before the Covi-19 virus …
The price for crude oil is down 60 percent since the year started and it is only tumbling further, global oil news reports.
On the one hand, analysts blame the ongoing coronavirus pandemic and on the other the price war between Saudi Arabia and Russia is said to have contributed to the sharp drop.
Even the movers and shakers are feeling the pinch, oil in the US plummeted 34%, crude oil falling by 26%, and brent oil falling 24%. Associated Press reports that prices this week dropped to an 18 year all time low of under USD20 a barrel for the US.
Speculators say it is the best time to invest, pessimists would have you shy away from taking the risk.
The idea is a simple business law, buy when prices are low and sell when prices peak, so technically, the advice to buy into the oil business now is …
Africa Oil & Power (AOP) launches Renewables, African LNG and Energy Finance Event at Africa Oil & Power 2020 in Cape Town, South Africa.
It is the first time AOP is hosting the forum which is in line with the vision of South Africa’s Department of Mineral Resources and Energy, the government and private sector partners from all four corners of Africa.
The Africa Oil & Power forum 2020 will host presidents, ministers, utility and national oil company heads and renewables executives. The event will majorly focus on the driving factors behind energy transition.
The theme of the conference which marks the entrance of the African Continental Free Trade Area is ‘Invest Without Boundaries’. The Africa Oil & Power is the only conference on the continent that fully unites power and petroleum
Also Read: Uganda oil refinery gets funding from Africa Finance Corporation
“AOP 2020 is the meeting place for …
