During the next five years, the Petroleum Authority of Uganda (PAU) expects that Uganda’s land acquisition procedure for oil and gas infrastructure will be a model for best practices in megaprojects both within and outside of Uganda. The PAU director of legal and corporate affairs, Mr. Ali Ssekatawa, stressed via an article the necessity of a well-organized compensation and resettlement scheme for those impacted by any large infrastructure project to succeed. This subject has been
Diamond exports from the Democratic Republic of Congo (DRC) to Belgium increased by 12% in 2022. During this period, the country officially exported 11.68 million carats of diamonds against 12.68 million in 2021. According to statistics made public in February 2023 by the Ministry of Mines, the share of the United Arab Emirates in these exports has fallen by 10%, from 60% to 50% in one year, while that of Belgium has increased. to reach
The European Union managed to exceed the goal of cutting demand for gas this winter, according to new data from Eurostat. Eurostat data shows that the European Union’s winter demand has fallen by 19 percent compared to the five-year average, beating the 15 percent target it has set for itself to help it survive the winter. The biggest drop was in Finland, which reduced its use by nearly 60 percent. Lithuania had the second biggest drop, down
Saudi Arabia’s state-run oil giant, Saudi Arabia, is now the world’s third-largest company by market capitalization, according to the companiesmarketcap.com list. Aramco, with a market cap of $1.903 trillion, slid to the number three position behind Apple ($2.413T) and Microsoft ($1.920T). Just two months ago, in mid-December, Aramco held the Number two position with a market cap of $1.81T, behind only Apple. And before that, In May of last year, Aramco was sitting at the
Engen Petroleum, a South African oil firm that specializes in downstream refined petroleum products and associated companies, and Vivo Energy, a British downstream petroleum company with subsidiaries and operations in 23 countries across Africa, have merged their African operations to form one of the continent’s largest energy distribution firms. The merged group will have approximately 3,900 service stations and more than two billion liters of storage capacity, across 27 African nations. Engen, which is the
Despite increased opposition from a number of groups, Uganda maintains that its oil dream is still alive. This week, one of those groups filed a complaint against insurer Marsh in the US for brokering underwriting services for the $5 billion East African Crude Oil Pipeline (Eacop). Approximately ten environmental and human rights organizations from Tanzania and Uganda accused Marsh of breaking rules for ethical corporate conduct on February 7 because of the company’s participation in
With Namibia’s energy sector on the precipice of rapid transformation on the back of recent oil and gas discoveries, the African Energy Chamber (AEC) will establish an office in the country dedicated to promoting local content development efforts. The AEC will engage with various stakeholders across the Namibian energy industry, including national and international oil companies, the government and service companies, utilizing a multi-tiered approach to scaling up local talent and capabilities. The office will
Antonio Oburu Ondo, Equatorial Guinea’s recently appointed Minister of Mines and Hydrocarbons, has awarded independent exploration and production company, Panoro Energy, a 56% participating interest and operatorship in Block EG-01 offshore the hydrocarbon-rich West African country, as well as Canadian oil and gas company, the Africa Oil Corporation, two production sharing contracts (PSC) for offshore Blocks EG-18 and EG-31. With the PSCs, the Ministry of Mines and Hydrocarbons, under the leadership of Minister Ondo, has
The global energy sector’s appetite for minerals, many of which can be sourced in Africa, is good news for the future of mining, and was an important focus at this year’s Investing in Mining Indaba in Cape Town, South Africa. However, despite the good news, the pressure on mines is still all about low-cost production. According to Ralf Hennecke, Managing Director of Omnia Group company BME, efforts to decarbonise the world economy are relying on energy technologies that
Africa’s energy deficit has given rise to African entrepreneurs that are introducing new technologies, especially in solar power, to fill these gaps. Progression is mostly driven by energy and many regions in the world are quickly running low on means to generate it. With over 600 million people devoid of access to electricity, Africa is a region amid an energy crisis. Despite Sub-Saharan Africa’s booming population, the region has a an extremely low electrification
