Government Moves to Calm Fuel Fears Amid Middle East Tensions
The Government has stepped in to reassure the public that Uganda’s fuel supply remains steady, even as escalating tensions in the Middle East continue to rattle global oil markets. In a joint statement released on March 30, the Ministry of Energy and Mineral Development and the Uganda National Oil Company
KCB Bank Positions Local Contractors for Uganda’s Oil & Gas Windfall
As Uganda edges closer to a multibillion-dollar oil and gas boom, KCB Bank Uganda is moving to ensure local contractors are not left watching from the sidelines, but actively competing for a share of the lucrative deals. At a high-level CEO forum hosted by the Uganda National Association of Building
Global Energy Crisis Deepens Beyond 1970s Oil Shocks, IEA Chief Warns
The world is grappling with an energy crisis more severe than the oil shocks of the 1970s, the head of the International Energy Agency has warned, as mounting supply disruptions rattle global markets and raise fears of economic fallout. IEA Executive Director Fatih Birol described the situation as “very severe,”
Asia Turns to Fuel Rationing as Hormuz Disruptions Tighten Supply
Asian economies are beginning to feel the squeeze from disruptions in the Strait of Hormuz, with several countries rolling out fuel-saving measures as global oil supplies come under strain. The unfolding crisis driven by rising tensions in the Middle East involving Iran has slowed tanker traffic through one of the
Qatar Warns Middle East War Could Trigger Global Energy Shock
Qatar’s energy minister, Saad Sherida Al-Kaabi, has warned that the escalating conflict in the Middle East could unleash a severe global economic shock, potentially pushing oil prices to as high as $150 per barrel if energy exports from the Gulf are disrupted. According to remarks reported by the Financial Times,
Putin Considers Cutting Europe Off: Russia Eyes New Gas Markets
Russian President Vladimir Putin has ordered a study on the sudden halt of natural gas supplies to Europe, signaling a potential shake-up in global energy markets. The move could see Russia pivoting to emerging markets, where demand for energy is on the rise. In an interview with journalist Pavel Zarubin
Oil Production Halted at Iraq’s Rumaila Field Amid Rising Regional Tensions
Oil production has been suspended at the Rumaila oil field, one of the world’s largest oil fields — according to local sources cited by Shafaq News on Tuesday. Sources said operations at the vast southern Iraqi field were completely halted following disruptions to export activity linked to ongoing military developments
EACOP,IEC Centre Partner to Strengthen National Content and SME Capacity
The East African Crude Oil Pipeline (EACOP) Ltd. has signed a Memorandum of Understanding (MoU) with the Industry Enhancement Centre (IEC) to reinforce their shared commitment to advancing National Content initiatives and enhancing the capacity of Ugandan Small and Medium-sized Enterprises (SMEs). The IEC was established in 2024 by TotalEnergies
Service Firms Positioned to Drive Africa’s Local Content Expansion
Global service companies were spotlighted as key drivers of local content development in Africa during the recent Wider African Energy Summit in Aberdeen, held in partnership with the African Energy Chamber. A central theme of the summit was the importance of local content in driving economic growth across the continent.
Uganda’s Recoverable Oil Reserves Rise to 1.65 Billion Barrels
Uganda’s petroleum sector has recorded a rise in its estimated oil and gas reserves, Daily Star has learned. The update was confirmed by Ernest Rubondo, Executive Director of the Petroleum Authority of Uganda (PAU). According to the latest resource assessments, the country’s recoverable oil resources have increased from 1.4 billion
