Post Tagged with: "oil"

Tullow Oil Plc to Sale its Stake in Uganda

February 13, 2014 9:49 am0 comments
Tullow Oil Plc to Sale its Stake in Uganda

LONDON—Tullow Oil PLC is considering selling part of its stake in a Ugandan oil field to Total SA and China’s CNOOC. Paul McDade the Company’s Chief Exective Officer revealed that the sale is meant to enable the company to focus on Kenya, where a more supportive government is helping a project there move faster. Kenya “will be easier to develop and the government is very enthusiastic for us to get under way with that development and get first oil as soon as possible. So as we look at the phasing of our investments there’s a lot of priority being given to Kenya. If it continues to be very material and […]

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Kingdoms Clash Over Uganda’s Oil Cash

January 31, 2014 6:51 am0 comments
Kingdoms Clash Over Uganda’s Oil Cash

By Betty Mujungu Kampala-Two kingdoms in Uganda are embroiled in a bitter wrangle over an oil rich district. The kingdoms-Tooro and Rwenzuru are wrangling over Ntoroko a district in the Rwenzori region of Uganda. The district in contention lies in the oil rich Albertine Graben, where there is an estimated 3.5 billion barrels of Uganda’s oil. The district with more than 10 tribes, where the Batuku are the major tribe, was a quiet and rarely talked about before the discovery of oil. The inhabitants of the district were pastoralists and fisher men who paid allegiance to Tooro kingdom. But in early 2012, when the government of Uganda licensed a Chinese […]

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Misery Reigns Over Uganda’s Oil City

December 19, 2013 4:17 pm0 comments
Misery Reigns Over Uganda’s Oil City

“I regret why I sold my property and came here to suffer l wish I had remained where I was I would be better now” Laments  a 30-year-old motorcycle taxi driver who sold everything to relocate to Uganda’s oil city with the hope of making his dream of getting rich come true. The Continent Observer’s Joseph Elunya traveled to Uganda’s oil city-Hoima to find out how life has changed there since the first commercial discovery of oil was made in 2006. The situation in Uganda’s oil city-Hoima, which is located 225 kilometer North West of the capital Kampala, has not changed despite the commercial discovery of oil. All what one […]

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