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PURA INVITES CHEVRON TO INVEST IN TANZANIA’S PETROLEUM SECTOR.
PURA has invited Chevron Corporation to invest in Tanzania’s upstream petroleum sector, highlighting opportunities in unexplored sedimentary basins and upcoming licensing rounds. Chevron expressed strong interest, noting Tanzania’s existing gas fields and infrastructure make it an attractive investment destination.
- 8 months
OIL LITTLE CHANGED AS LOWER US STOCKPILES OFFSET DEMAND WORRIES.
Oil prices held largely steady on Wednesday, supported by tighter U.S. crude stockpiles and ongoing supply disruptions, though gains were capped by uncertainty over U.S. interest rate policy. Brent hovered near $67 a barrel while U.S. crude futures edged slightly higher, as markets weighed fresh inventory data, stalled Kurdish exports, and reduced Venezuelan shipments against broader economic headwinds. Analysts suggest prices may remain range-bound in the near term as supply concerns clash with demand-side risks.
- 8 months, 1 week
UGANDA’S FOREIGN DEPLOYMENTS STIR QUESTIONS OVER COSTS AND OIL INTERESTS
Uganda’s vast foreign troop deployments, costing taxpayers up to $1 million a day, are raising questions over hidden budgets, casualties, and unclear missions. Analysts argue the operations are aimed at safeguarding Uganda’s $20 billion oil infrastructure and future revenues, making the ventures as much economic as security-driven.
- 8 months, 1 week
UGANDA TO DRIVE AFRICA’S OIL STORAGE GROWTH WITH MAJOR PROJECTS BY 2030.
Uganda is projected to lead Africa’s oil storage growth by 2030, driven by major projects like the $5 billion EACOP and the Hoima refinery. With expanded storage capacity, the country aims to secure up to $2.5 billion in annual revenues and rival regional oil hubs in Kenya and Tanzania.
- 8 months, 1 week
OIL PRICES CLIMB ON GEOPOLITICAL TENSIONS IN EUROPE AND THE MIDDLE EAST
Oil prices rose at the start of the week amid rising geopolitical tensions in Europe and the Middle East. Brent crude reached $67.15 a barrel and WTI climbed to $63.10, driven by concerns over Russian military activity near NATO borders and increased Ukrainian attacks on Russian refineries. Tensions in the Middle East also flared as several Western nations recognized Palestine, prompting backlash from Israel and the U.S. However, rising oil exports from Iraq and concerns of oversupply tempered gains, while China’s ongoing stockpiling helped support prices.
- 8 months, 1 week
EU TARGETS RUSSIAN LNG WITH EARLY BAN AS MOSCOW SHIFTS EXPORTS BETWEEN EUROPE AND ASIA.
The European Commission is preparing to propose a ban on Russian liquefied natural gas (LNG) imports by January 1, 2027, one year earlier than initially planned, as part of its upcoming 19th sanctions package against Moscow. The move comes as Russia continues to balance its LNG flows between Europe and Asia, with exports totaling 18.8 million metric tons in the first eight months of 2025. Of that, 9.5 million tons were shipped to Asia and 9.2 million tons to Europe, underscoring how Moscow has managed to sustain sales despite sanctions pressure. France remains the largest European buyer, while China leads in Asia, reflecting both the resilience and the vulnerability of Russia’s LNG export model as geopolitical tensions rise.
- 8 months, 1 week
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