Sunday, March 3News That Matters

Tag: Ministry of Energy and Mineral Resources

Uganda to sign final oil deal with Total E&P and CNOOC on Sunday

Uganda to sign final oil deal with Total E&P and CNOOC on Sunday

Business, FEATURED, NEWS, Oil & Gas
Uganda will close the long-awaited Final Investment Decision (FID) with international oil companies Total E&P and CNOOC on Sunday.The decision will unlock billions of dollars of investment in Uganda’s oil and gas sector. Total chief executive Patrick Pouyanné, is expected in the country over the weekend, according to officials from Uganda’s energy ministry. The deal will also pave way for the construction of the 1440km crude export pipeline from Western Uganda to the Tanzanian Indian Ocean Port of Tanga, a key piece of infrastructure needed to get the east African country’s oil out of the ground and on to international markets. Tanzania’s President Samia Suluhu Hassan is also traveling to Kampala to take part in the three-way talks that should culminate in the signin...
Uganda tax deal paves way for Tullow sale to Total

Uganda tax deal paves way for Tullow sale to Total

Business, FEATURED, Latest News, Oil & Gas
Tullow Oil has reached a binding tax agreement with Uganda, which should allow it to close a sale to Total shortly. Tullow Oil has reached a binding tax agreement with Uganda, which should allow it to close a sale to Total shortly. The Minister of Energy and Mineral Development has also approved the transfer of the equity, and the operatorship, in Block 2 to the French company. The government and the Ugandan Revenue Authority have approved the tax agreement. All governmental conditions have now been met, Tullow said. As such, the transaction should close “in the coming days” after certain customary steps have been completed. Total will pay Tullow $500 million on closing. The French company will then pay $75mn when it reaches a final investment decision (FID). Oil price movemen...
Tullow Moves Closer to Uganda Exit

Tullow Moves Closer to Uganda Exit

FEATURED, NEWS, Oil & Gas
By OGJ editors Tullow Oil PLC expects to close its sale of Ugandan assets to Total in the coming days following recent governmental approvals. Tullow Oil PLC expects to close its sale of Ugandan assets to Total in the coming days following recent governmental approvals. Tullow is selling its Ugandan assets and transferring operatorship of Block 2 to Total. The Government of Uganda and the Ugandan Revenue Authority executed a binding tax agreement that reflects the pre-agreed principles on tax treatment of the sale. The Ugandan Minister of Energy and Mineral Development approved the transfer of assets and operatorship. Upon closing, Tullow will receive $500 million consideration and a further $75 million when a final investment decision is taken. In addition, Tullow is entitled...
“100,000 hurt by Total’s Ugandan Oil Operation” French activists says

“100,000 hurt by Total’s Ugandan Oil Operation” French activists says

FEATURED, Latest News, Oil & Gas
Over 100,000 people in Uganda and Tanzania have been hurt by human rights violations linked to the Total's TOTF.PA oil operations in Uganda, two French activist groups said in a report on Tuesday. Friends of the Earth and a second group called Survie are seeking a court order requiring Total to disclose how it is addressing the adverse impact from its activities, citing an obligation to do so under French law. Total had no immediate comment on the report. The French company has previously said it was working in Uganda in compliance with national and international standards. The campaign groups, along with Ugandan activists, have alleged that Total intimidated and failed to properly compensate local landowners affected by work on its Tilenga project in Uganda, and said e...
Despite of Crucial Agreements, Uganda not sure of the exploration start date

Despite of Crucial Agreements, Uganda not sure of the exploration start date

FEATURED, NEWS, Oil & Gas
By Matt Smith Pipeline deal with Tanzania and agreement with Total raise hopes of FID—but go-ahead could be delayed until 2022 Upcoming elections and doubts over financing for the world’s longest heated oil pipeline could scupper Uganda’s hopes of obtaining FID on its much-delayed Lake Albert crude project before year-end. Lake Albert was found to hold c.1.7bn bl of crude following Tullow Oil’s discovery of oil in 2006. The financially troubled Anglo-Irish Tullow, French major Total and Chinese NOC Cnooc each hold one-third stakes in the project—although Total agreed in April to buy out Tullow for $575mn: $500mn on conclusion of the deal, plus $75mn following FID. Tullow, which says the sale should be complete by year-end, would receive further payments if Brent prices ...
Ugandan Families Left in Limbo as Oil Project Earmarks Land

Ugandan Families Left in Limbo as Oil Project Earmarks Land

FEATURED, Latest News, NEWS, Oil & Gas
Farmers say the long-delayed project has put limits on how they can use their land and failed to pay promised compensation Two years ago, surveyors came to measure a swathe of land cutting through the Bitamale family’s homestead in western Uganda. The family was not sure whether the land acquisition in their village in Buliisa district was for a road or a pipeline, but they knew it was connected to a multibillion-dollar oil project coming to the low plain beside Lake Albert. “The surveyors told us we shouldn’t use the land where they passed,” Violet Bitamale told the Thomson Reuters Foundation, indicating an invisible line between a nearby tree and the house of her adult son. But since then, nobody has come to develop the land and the family has received no compensation fo...
Ugandan lawmakers Reject Plan for Murchison Falls Hydropower Dam

Ugandan lawmakers Reject Plan for Murchison Falls Hydropower Dam

FEATURED
Activists praise decision to reject energy ministry’s proposal to dam the world-famous waterfall Conservationists in Uganda have hailed a bipartisan decision to reject the government’s plan to construct a hydro-power dam at the country’s biggest tourist attraction. Lawmakers unanimously adopted a report by the 28 member parliamentary committee on environment on Thursday, rejecting the Ministry of Energy and Mineral Development proposal to build a 360MW at Uhuru Falls on Murchison Falls national park. “Whereas the benefits of hydroelectricity are numerous, the country needs to pursue means of sustainably utilising its natural resources, a feat that requires a delicate balance of trade-offs,” said the report, presented by Keefa Kiwanuka, the committee’s cha...
Moka Fuel Station at Mpala, Entebbe Road Catches Fire

Moka Fuel Station at Mpala, Entebbe Road Catches Fire

FEATURED, NEWS, Oil & Gas
Fire gutted Moka Energy Pump fuel station along Kitala-Garuga road. Employees at the station, say the fire broke out around 6 pm on Monday from a Canter truck that was loaded with jerricans that were being filled with fuel for transportation to a landing site. "The outbreak was a shock to us. We saw the jerricans on top of the truck catching fire before they burst into huge flames, destroying part of the station,” one of the employees told police fire officers at the scene.     Luke Owoyesigyire, the deputy Kampala Metropolitan police spokesperson, says the fire later spread to Sedan vehicle before it was extinguished by fire officers who arrived at the scene in time.  The fire at the pump fuel station comes two days after another fire gutted the main building ...
‘Mafias Want Me Dead For Fighting Illegal Gold Mining ’-Min. Opendi Cries Out Before Parliament

‘Mafias Want Me Dead For Fighting Illegal Gold Mining ’-Min. Opendi Cries Out Before Parliament

FEATURED, NEWS
By Elite News Reporter The Mafias that forced Tamale Mirundi from NBS TV are back again, this time hunting for the head of Sarah Opendi, the State Minister for Mineral Resources…. Hon. Opendi told Parliament on Thursday that she continues to receive death threats from anonymous people who she described as mafias promoting illegal gold mining in Uganda. The Minister said that ever since she was appointed to the docket in January, after serving as a State Minister for Health in charge of General Duties, said that her mission was to clean the mining industry, but there are some people who are trying to frustrate her efforts. She noted however that the threats will not frustrate her efforts against illegal mining activities and the violation of rights of other players. Opendi t...