Browsing: Oil in Africa

• Uganda, Kenya, and Tanzania are building their oil and gas economies at a very fast pace
• Algeria is Africa’s leading natural gas producer, with almost 2.4 trillion cubic meters of proven reserves
• Nigeria is Africa’s largest oil producer, and Africa accounted for approximately eight per cent of the global oil output in 2020

When it comes to oil and gas in Africa, there is plenty of potential to produce enough energy on the continent.

Africa accounted for approximately eight per cent of the global oil output in 2020. Similarly, at least 330 million metric tonnes of oil will be produced in Africa in 2020 (Statista). Global oil and gas players such as ExxonMobil, Shell, Equinor, and BP are pushing the continent forward.

The energy sector in East Africa is rapidly expanding its commercial potential thanks to Tanzania. The EACOP pipeline, upstream offshore gas projects, LNG project discussions, and various renewable …

Tanzania has been ambitious from day one to strike oil. However, it took a while to find oil deposits, and it will take time to commercialize the oil discovered—a tedious but necessary process.

Oil and gas exploration in Tanzania has been taking place since 1952. The Discovery of oil reserves in Tanzania’s Wembere-Eyasi proves the long wait was worth a while.

In the same suit as its neighbouring nation, Tanzania is to undergo a rigorous process to commercialize the oil discovered entirely.

For instance, in Kenya, which discovered oil and experienced the first stages of (testing) exporting at least 200,000 barrels—the nation is working to build the functioning and healthy infrastructure necessary to tap the existing potential.…

• African nations are harnessing it’s push toward the oil and gas industry despite global push to reduce greenhouse gasses
• Oil-rich nations are keen to explore and pump out various fossil fuels as the rest of the world moves toward being Carbon Neutral
• COP 26 focused on resolutions for the world, but that was mainly the developed world, what about Africa?

Part 1: The fuel of modern-day civilization

The backdrop of modern-day development as embodied in Europe, America, Asia and the Arab Peninsula all lies in fossil fuel, crude oil, black gold. It is the burning of fossil fuels that runs our engines and powers our economies.   Indeed, we owe our modern civilization and advances to fossil fuel.

Great!  What is not so great is the cost that comes with burning fossil fuels.   The primary cause of current climate change, altering the Earth’s ecosystems and causing human and environmental health problems …

• The costs for South Sudan conflicts could reach a staggering range of between $22 billion and $28 billion over the next five years. 
• The cost of war shockingly overpowers the new nation’s 2021/2022 fiscal budget of around $2 billion.
• Poverty is ravaging South Sudan. South Sudanese people lack basic essential services, poor housing, land and property issues limit people returning home in large numbers

Numbers have been a better tool in analysing a very complex scenario, and in this case, South Sudan conflicts put it at a disadvantage economically.  

According to a 2015 Oxfam report, depending on the intensity of the conflict, the costs for South Sudan conflicts could reach a staggering range of between $22 billion and $28 billion over the next five years. 

The cost of war shockingly overpowers the new nation’s 2021/2022 fiscal budget of around $2 billion. These numbers show how wars suck the life out …

Uganda’s Cabinet agreed to borrow about €108 million from China for the construction of oil roads.

Uganda’s government will borrow the money from the Industrial and Commercial Bank of China to finance the construction of Hohwa-Nyairongo-Kyarusesa-Butoole and Masindi-Biiso, Kabaale-Kiziranfumbi roads.

“Upgrading and constructing the national oil roads will facilitate the efficient development of the strategic national oil resources,” said Denis Katungi, Uganda Media Centre communications and media relations manager.
Mr Katungi did not give more information on the interest rate the government will pay on the loan or the loan period.

Also Read: Uganda’s economy growing but not braced for shocks, says World Bank

He also added that the upgrade will add to the network of road infrastructure required for the movement of construction materials, consumables and workers from other parts of the country to the oil region.

Early last year, Uganda’s government signed a contract with China Railway Seventh …