No Result
View All Result
Friday, July 1, 2022
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Financing agric sector alone not enough to grow it – GIRSAL CEO

    We’re not charging E-levy on merchant accounts – GRA

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    AfCFTA Secretariat calls for accelerated dev’t for key infrastructure in Africa to boost trade

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport
    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

    Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in big partnership

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

  • TECHNOLOGY

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Financing agric sector alone not enough to grow it – GIRSAL CEO

    We’re not charging E-levy on merchant accounts – GRA

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    AfCFTA Secretariat calls for accelerated dev’t for key infrastructure in Africa to boost trade

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport
    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

    Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in big partnership

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

  • TECHNOLOGY

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Pipeline fiasco, first sneeze in eminent black gold curse

bycitibusinessnews
May 6, 2016
in Africa, East Africa
Share on FacebookShare on TwitterShare on Whatsapp

Uganda and Kenya have had their fair share of infrastructural lunacy. Take the so called “Lunatic Express” referred to by Charles Miller in his 1971 book of the same name. It told of the risible Uganda Railway which connected Uganda to the Indian Ocean, through Kenya, at an estimated £3 million in 1894, marred by hefty budget costs and lions feasting on the unfortunate engineers in the dead of night. Upon Uganda’s discovery of crude oil, in 2006, technocrats have proposed pipeline route from Uganda’s oil rich Hoima to Lamu Port on the smooth Kenyan coastline. The lions may be scarcer but the risks are abundant.

Uganda’s 6.5 billion barrels of “Sweet Oil” of which 1.7 billion barrels are recoverable, cements its reserves as the fourth largest in Sub-Saharan Africa (after Nigeria, Angola and South Sudan). Upon completion, the pipeline will transport about 230,000 barrels per day of crude products, making Uganda a mid-level African producer, on a par with Equatorial Guinea and Gabon.

It means Uganda is driving the $4 billion pipeline project to pump crude from Uganda’s Hoima oil fields to the Kenyan port of Lamu, also drawing from Lokichar, in Kenya’s Turkana region, along the way. South Sudan is also interested in a bid to by-pass the expensive route through Khartoum.

ADVERTISEMENT

Ugandan crude’s waxy nature means it can solidify and slow down the passage through the pipeline. This creates a need to heat the pipeline, making it even costlier and the longest heated pipeline in the world.

Kenya Option

The initially signed Memorandum of Understanding for the pipeline between East Africa’s powerhouse, Kenya and Uganda would see the it stretch from Hoima via Karamoja-Lokichar basin in Turkana to Lamu with an option of linking 600 million barrel rich Lokichar with another crude pipeline from South Sudan. The $4.5 billion pipeline was part of the ambitious Lamu Port Southern Sudan-Ethiopia Transport Corridor Project.

The Kenyan route would also run a storage facility at Lokichar with each country building their portion of the pipeline. Following Tullow Oil’s 600m barrel discovery of oil in the Turkana area the international oil company is backing Kenya to link the oil fields. The joint pipeline between Kenya and Uganda would an output of 300,000 barrels per day with 200,000 barrels for Uganda and 100,000 barrels for Kenya.

Tanzania option

Uganda and Tanzania stunned the region when on agreeing to construct the 1,403 kilometre oil pipeline from Hoima to Tanzania’s Tanga port and President John Pombe Magufuli remarking that pipeline would create  15,000 jobs. The 24-inch pipeline will deliver about 200,000 barrels of crude oil per day and France’s Total E&P favors the Tanzania route citing its cost-effectiveness and does not have the security threat from Al Shaabab militias that the northern Kenyan route poses.

Final decision

We did see glimpses of the multi-billion dollar project taking a toll on regional geopolitics. On 23rd March, while on a route tour of Tanga port, Kenya’s energy minister Charles Keter’s passport was confiscated and denied admittance to the port together with his entourage but Uganda’s Energy Minister Irene Muloni was given preferential treatment. This was all in retaliation to Kenya’s failure to invite the Tanzanian contingent during Ugandan officials’ tour of Lamu port in Kenya.

Citing security concerns in Kenya’s Turkana region, Uganda finally decided the pipeline will run further south to Tanga Port in Tanzania. The much anticipated announcement was the climax at the Northern Corridor Heads of State Summit. This came as no surprise however to many commentators as Tanzania’s President John Pombe Magufuli had already crowed over the 15,000 jobs to be created; plus Total E&P’s pledge to Uganda to fund the project.

–

Source: CNBC Africa

Related Posts

Africa

Africa’s internet economy to cross $180 billion by 2025: Report

byBenjamin Aklama

Africa’s Internet economy has the potential to reach 5.2% of the continent’s gross domestic product (GDP) by 2025, contributing nearly...

Read more

Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

Ticket prices to rise following B.A schedule change on Accra-London-Accra route

Bawumia calls for more AfDB support as African economies battle global challenges

Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

Take control of financing on the continent – Ofori-Atta to AfDB

Next Post

Policy instability a major headache for Nigerian investors

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.