Lukoil said Thursday it had accepted an offer from global commodity trader Gunvor to buy its foreign assets, which Russia’s second-largest oil company is seeking to sell after Washington imposed sanctions on it last week.The planned asset sale is the most consequential action so far by a
Singapore — Oil prices eased on Friday, heading for a third consecutive monthly decline, as a stronger dollar and weak China data capped gains while rising supply from major producers globally offset the effect of Western sanctions on Russian exports.Brent crude futures slipped 36c, or 0
The oil sector’s development — including two central processing facilities at Kingfisher and Tilenga — is expected to unlock billions in ancillary investment and generate thousands of jobsKampala: Uganda’s proven oil reserves have risen to 6.65 billion barrels, up from 6.4 billion,
For the next nine months, activities in Uganda’s oil fields will be ramped up as the country targets to get its first barrel of oil to the market through a 1,443km pipeline to the Tanzanian coast of Tanga by July 2026, more than 20 years after the first commercial discovery was made in western
Russian stocks continued to plunge on Monday, fuelling fears of a major financial crisis following Donald Trump's swingeing new sanctions. The Kremlin has been rocked by the White House's decision last week to target its two largest oil companies in the latest sanctions package.Rosneft and
"Super bad"Ever wondered what Seth Rogen and Evan Goldberg's high school experience was like? Greg Mottola's 2007 teen comedy "Superbad" — written by Rogen and Goldberg — provides a vulgar and hilarious fictionalized answer. The film stars Jonah Hill and Michael Cera as Seth and Evan,
An artistic impression of an oil refinery. Uganda hopes to complete construction of a 60,000 barrels/day refinery by 2030. COURTESY IMAGE/PETROLEUM AUTHORITY OF UGANDA.Delayed construction heightens importance of missing piece in
On his own guilty plea, Ronald Kiweewa (alias Selector Wagon) has been sentenced to spending two full years in Luzira prison for committing offences relating to installing and operating a radio station without obtaining the mandatory license from Uganda Communic
Putin appears unmoved in the face of Trump’s deadline diplomacy and social media brinkmanshipThe muddled US-Russia equation under Trump is symptomatic of a larger leadership dilemma.US President Donald Trump faces a daunting series of foreign p
Officials have said that as Uganda advances one of its largest infrastructure projects in recent history, the East African Crude Oil Pipeline (EACOP) is not just laying steel, it’s laying down relationships with the communities it runs through.Often, large-scale projects are measure
