THE Government has not yet approved the sale of Ugandan oil fields to an Italian company, a senior energy ministry official has said.
The Ethiopian government has dismissed claims by Ogaden rebels to have captured seven towns in the oil rich Somali region located in south eastern of Ethiopia.
Kenya is still hunting for oil in Isiolo where a Chinese firm has pitched tent.
Four days after Vice President Goodluck Jonathan promised that no Nigerian will use power generators next year, the Presidency itself proposes to spend N542.4 million in the 2010 Federal budget to purchase and fuel power generating plants.
Ambassador Kabral Blay-Amihere, former Ghana Ambassador to La Cote d'Ivoire, has cautioned that oil flow may well fuel corruption to disturbing levels.
FUEL retailer Engen Petroleum yesterday pleaded ignorance to reports Zimbabwean authorities had thwarted its bid to acquire fuel assets in the country.
Conditions in Equatorial Guinea cast serious doubt about the credibility of the forthcoming presidential election, Human Rights Watch said today.
Ghana's enthusiastic efforts to become a major oil industry player in Africa could be short lived, as the country would only mine the 'Black Gold' for just 20 years. Furthermore, data from the World Bank and International Monetary Fund have projected that Ghana could rake a total of $ 247.44million as oil revenues in 2011, which would decline to $1,550 in 2017.
It's now official. The oil find in blocks 1 and 3A in the Albertine region are gone to leading Italian multi-national company, Eni S.p.A. Heritage Oil Plc, hitherto operators of the wells, yesterday confirmed media reports it had sold its stakes here at $1.5 billion (Shs2.8 trillion). In a statement, Heritage says a final deal could be sealed by March next year subject to approval of transaction ...
British oil explorer Heritage Oil will sell its fields in Uganda to Italian oil group Eni SpA for between $1.3b and $1.5b, the London-based Sunday Times said yesterday.
As part of the national mitigation efforts to contain the impact of climate change, the Federal Government through the Nigerian National Petroleum Corporation (NNPC) said it has embarked on gas utilisation projects that would gulp a total of $12.1bn between now and 2013 with the aim of achieving alternative energy development and a low carbon economy.
LATELY, the Federal Government is beginning to demonstrate what could pass for a genuine eagerness to transform the long-neglected but oil-rich Niger delta region.
A new oil refinery is to be established in Eket local government area of Akwa Ibom state.
British oil explorer Heritage has sold its fields in Uganda to Italian oil giant Eni SPA for between $1.3b and $1.5b.
FOR the past two weeks, artificial shortage of fuel has been a recurring trend in Ibadan with vehicles remaining on queues for days.
