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Uganda signs oil exploration deal with Australia’s Armour Energy Limited

Posted on 9th October 201717th November 2017 by SamCM

Uganda has signed an oil exploration deal with Australia’s Armour Energy Limited, the first under a protracted competitive licensing round launched in 2015. The production-sharing agreement covers Kanywataba block, a 344-square-kilometre (133-square-mile) area in the Albertine rift basin near the border with Democratic Republic of Congo, officials said at the signing in the Ugandan capital Kampala.…

OPEC Sees Higher 2018 Oil Demand, Trims Output

Posted on 9th October 20179th October 2017 by SamCM

OPEC on Tuesday forecast higher demand for its oil in 2018 and pointed to signs of a tighter global market, indicating its production-cutting deal with non-member countries is helping to tackle a supply glut that has weighed on prices. In a monthly report, the Organization of the Petroleum Exporting Countries said the world would need 32.83 million…