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Browsing: oil and gas sector
Uganda National Oil Company (UNOC) to invest $840 million in joint infrastructure projects in the oil and gas sector in Uganda, said Proscovia Nabbanja, the Chief Executive Officer.
Nabbanja signed a memorandum of understanding with Stanbic Bank to facilitate the two entities collaborating to train local entrepreneurs ahead of oil developments.
She said a significant amount of money either through loans or the national budget will go towards investments in the refinery, pipeline, bulk trading, storage tank as well as the industrial park.
“We hope that this level of equity will be spread in a period of five years in our national budgets to ease pressure on the country’s debt burden,” she said. “The investment will be based on the medium-term expenditure framework.”
Also Read: Uganda projected growth too ambitious, World Bank
Out of the planned $4 billion in the oil refinery and $3.5 billion investment in the pipeline, UNOC …
Angola’s reforms in the oil sector including at national oil company Sonangol , are already yielding positive results, with 30 per cent of the company set to be privatized by 2022.
Sector reforms are set to be supported by an investment campaign drive by Africa Oil & Power including the Angola Oil & Gas Conference & Exhibition on June 2020, at the Talatona Convention Center.
The conference will be a global drive which will present opportunities to a targeted audience of relevant investors.
H.E. Diamantino Pedro Azevedo, Angola’s Minister of Mineral Resources and said that the government had made noteworthy progress in its efforts to restructure the oil and gas sector.
Also Read: EU and UNCTAD seek more coffee aroma from Angola
Angola’s initial achievements include significant reduction of costs at the national oil company (NOC) Sonangol which has led to the government decision to list up to 30 per …