Category: Petroleum

Uganda’s government is preparing to launch its third round of petroleum exploration licensing in the 2025/2026 fiscal year (July-June), according to Energy and Mineral Development Minister Ruth Nankabirwa. The upcoming licensing round will open new areas for oil and gas exploration, although specific regions, including the Albertine Graben or northern and northeastern basins, have not yet been confirmed. Uganda, which discovered crude oil in the Albertine Graben nearly 20 years ago, aims to commence production

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Uganda has announced plans to fully finance its $4 billion oil refinery project in Hoima District using equity, abandoning earlier plans to seek international market financing. Energy Minister Ruth Nankabirwa revealed that the government, in partnership with UAE-based Alpha MBM Investments, has opted to proceed without external debt financing. This decision marks a significant shift from the original funding model, which projected a mix of 60% debt and 40% equity. The Uganda Refinery Project aims

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The recently rehabilitated Port Harcourt Refinery, operational since November 26, 2024, has faced hurdles similar to those affecting Dangote’s refinery, with disputes over fuel pricing threatening its success. Contrary to reports of halted operations, the facility had only scaled down to implement necessary improvements, according to Managing Director Ibrahim Onoja and Executive Director of Operations Moyi Maidunama of the Nigerian Pipeline and Storage Company Limited. During a guided tour, Onoja emphasized that product distribution continues,

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LONDON – US oil and gas companies are unlikely to make significant production increases under president-elect Donald Trump, as the industry remains focused on capital discipline, according to Liam Mallon, head of Exxon Mobil’s upstream division. Speaking at the Energy Intelligence Forum in London on Tuesday, Mallon stated, “We’re not going to see anybody in ‘drill, baby, drill’ mode.” He emphasized that the industry’s focus on economic factors and disciplined capital management will likely prevent

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Oil futures for January delivery rose to $70.14 per barrel on Friday, marking a 0.06% increase on the New York Mercantile Exchange at the time of reporting. Earlier in the session, prices reached their peak before showing potential support at $66.53 and resistance at $70.75 per barrel. The U.S. Dollar Index Futures, which tracks the dollar’s performance against a basket of six major currencies, gained 0.51%, trading at 107.48. Meanwhile, on the ICE Futures Exchange,

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