Court backs Total in Uganda vigilance case
The Versailles Court of Appeal has found in favour of Total on its actions in Uganda, where the company is working on an oil production and pipeline plan.
Uganda
EV Out Loud: Austin powers back, steroids for microbes, and heartbreak in Uganda
On this week’s episode, in association with Fasken, the team looks at the return of RockRose Energy founder Andrew Austin to the North Sea fold, after he sold up his former firm for nearly £250m earlier this year.
Tullow completes sale to Total, exits Uganda
Tullow Oil has completed the sale of its Ugandan assets to Total, receiving $500 million.
Total trims spending on price volatility
Total has no clear view on prices in 2021 and is taking a cautious stance on spending plans, the company’s CFO Jean-Pierre Sbraire said after the company published its third quarter results.
Total holds the dividend, cuts debt
Total has reported adjusted net income of $848 million, with an organic cash breakeven below $25 per barrel.
EACOP reaches government deal with Tanzania
The East African Crude Oil Pipeline (EACOP) has signed a host government agreement (HGA) with Tanzania, as plans for the Ugandan oil development near the finish line.
Total faces duty of vigilance case over Uganda work
Total will face accusations of human rights violations over its activities in Uganda on October 28, in the Versailles Court of Appeal.
Uganda tax deal paves way for Tullow sale to Total
Tullow Oil has reached a binding tax agreement with Uganda, which should allow it to close a sale to Total shortly.
Total under fire over Uganda land issues
Friends of the Earth France and Survie have accused Total of human rights violations in Uganda and Tanzania.
$20 per barrel for project approvals, Pouyanné states
Total remains committed to developing hydrocarbon resources, but the cost must be sufficiently low to survive in a world of lower prices, the company’s chairman and CEO Patrick Pouyanné has said.
Tullow trims RBL at redetermination
Tullow Oil has completed its twice yearly redetermination of its reserve-based lending facility, with $1.8 billion of debt capacity approved by lenders.
Tullow trims sails
Tullow Oil produced 77,000 barrels per day of oil in the first half, in line with expectations.
UNOC pitches for exploration partners
Uganda National Oil Co. (UNOC) has invited companies to participate with it in the upcoming bid round.
China eyes African opportunities
Amidst the oil price crash crisis and the pressure on companies, opportunities are emerging for those with resources.
CNOOC opts out of Uganda pre-emption
CNOOC Uganda will not pre-empt the sale of Tullow Oil’s stake in Lake Albert to Total.
Tullow hits pause in Kenya
Tullow Oil has declared force majeure at its site in northern Kenya, putting plans to sanction the project this year in jeopardy.
Uganda-Tanzania pipeline construction planned for 2021
Work on the East Africa Crude Oil Pipeline (EACOP) is expected to begin in April following a final investment decision (FID), according to a budget speech from the Tanzanian Minister of Energy.
Total to buy Tullow’s Uganda licences
Tullow Oil has struck a deal to sell its entire stake in Uganda’s Lake Albert project to France’s Total for $575 million.
AfDB denies East Africa pipeline plans
The African Development Bank (AfDB) has denied that it plans to support the proposed East African Crude Oil Pipeline (EACOP).
Price drop puts the squeeze on African projects
Many new projects in Africa will be delayed as a result of the oil price drop, Rystad Energy has said.
As pressure mounts, Tullow launches sale plans
Tullow Oil has slashed spending in 2020 and set out major disposal plans in an attempt to weather the storm.
Win for Total in French case over duty of vigilance
A court in France has found it does not have the right to hear a complaint against Total in Uganda, in an early blow to a new law.
Tullow takes write down on lower for longer prices
Tullow expects to report pre-tax impairments and exploration write-offs of around $1.5 billion for 2019, as a result of a lower oil price forecast and a reduction in 2P reserves at the TEN project, offshore Ghana.
Congo Wants to Sell Gertler’s Oil Blocks on Ugandan Border
Congo Kinshasa is forming a plan to take back two oil blocks from sanctioned Israeli billionaire Dan Gertler and sell them to another company.
Tullow chief exec and exploration boss exit, shares nosedive
Tullow Oil chief executive Paul McDade and exploration director Angus McCoss have resigned with immediate effect as production expectations for 2020 and beyond have been slashed.