Tetesi: Uganda wamekataa SGR ya Kenya na ardhi waliopewa bure huko Naivasha

Mkikuyu- Akili timamu

Mkikuyu- Akili timamu

JF-Expert Member
Feb 16, 2018
4,310
7,464
Wakuu,
Ukajanja wa Kenyatta umekwisha. Hongera Museveni, wacha linchi la njaa na ukabila likule ujeuri wao.
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Diplomatic grudges... Watamalizana wenyewe wakubwa wakishahakikishiana maslahi binafsi yanalindwa vilivyo

Jr
 
Haiwezikani nchi iwe inakwaruzana na majirani zake wote ambao ndio anaofanya nao biashara na utegemee kuwepo na ushirikiano mzuri. Kulikua na umuhimu gani Kenya kuilaumu Uganda kutokana na kuongezeka kwa kina cha maji cha ziwa Victoria wakati maziwa yote ikiwemo na mito imefurika kutokana na mvua kubwa ambazo zimenyesha mwaka huu?
 
wa kupuliza said:
Kumtegemea Museveni kwenye inshu yoyote ile hua ni kupoteza muda tu.

Bomba la hoima ametudanganya huku bongo watu wameshapewa matumaini hewa,kifupi jamaa hua ni muongo muongo tu.
View attachment 1463469

Museveni’s bad oil policy
Click to expand...
Just like Charles Obbo, try to know Andrew Mwenda n u will know he is writing for Kenyan interests! Uganda pipeline will be built as a matter of fact this week Total has been allowed to acquire all the Tullow oil shares after CNOOC forgone rights to claim those shares. Btn the three shareholders a bankrupt Tullow oil was for Lamu route while CNOOC was a bit neutral though with some reservation on amount of crude oil to be transported! So Total is to have the 66.6% of the oil fields n therefore total control of all the decisions! The maths just don't add up!

South Sudan is in negotiation with Uganda and Tanzania to use Hoima-Tanga pipeline after DRC Congo


Cnooc questions investment in oil pipeline
  • May 26, 2020
  • Written by Jeff Mbanga
Cnooc workers in the field

Cnooc workers in the field

Cnooc Uganda Limited has up to the end of May to decide whether it will buy half of the stake from Tullow Oil Uganda, nearly three months after the Chinese company wrote to Uganda’s energy officials casting doubt about the business viability of the East African Crude Oil pipeline.


On April 23, Tullow Oil announced that it had agreed to sell its entire stake in Uganda’s Albertine graben and interest in the East African Crude pipeline to Total E&P Uganda for $575 million, and that it had received government’s approval after more than three years of negotiating for it.

The agreement, however, allows Cnooc Uganda to preempt its right to buy half of what Tullow is selling in its fields in Hoima, 200km from the capital Kampala.

Now attention turns to the haggling over the project economics informing any financial decision to be taken towards building the crude oil pipeline from Hoima to southern Tanzania in the Chongoleani peninsula.

As their next move, Total and Cnooc are to embark on scraping through a couple of agreements before signing an integrated Financial Investment Decision (FID) for the oil industry, quite possibly in the second quarter of 2021.

The projects for which the FID will be signed include: the crude oil pipeline, Cnooc’s Kingfisher field and Total’s Tilenga oil development project. Combined, the three projects require between $10 billion and $15 billion, the biggest investment in the country’s history.
However, Cnooc appears to be growing cold feet.

“With regard to the crude oil pipeline project, which has been led by Total, Cnooc is concerned that the project is not yet investable or bankable and the participation percentage will largely depend on the economic return and the bankability,” Zhao Shunqiang, the president of Cnooc Uganda Limited, wrote to Goretti Kitutu, Uganda’s minister of Energy and Mineral Development, in February.

There is no information pointing to Total feeling the same way, although this would not be the first time that the two companies have not been on the same page in how Uganda’s oil project should progress. The two companies, together with the Uganda National Oil Company, remain partners in Uganda’s oil project.

Shunqiang asked for a meeting with Kitutu to resolve some of the issues that would facilitate movement towards FID. It is not clear whether any meeting has taken place or if Cnooc’s concerns have been resolved, considering the country has been under lockdown since late March as a result of the fight against the spread of coronavirus disease (Covid-19).

Cnooc gave the impression that it is hard to buy Tullow Oil’s stake if the numbers surrounding the crude oil pipeline do not make economic sense. Just what informs Cnooc’s line of thought is hard to tell.

Cnooc listed a dozen of issues that need to be resolved before it could take part in any financial decision for the pipeline. Some of these issues touch on agreements on contracts sur-rounding the recovery of costs, stable legal regimes and the issue of grand-fathering, the return on investments, and taxation.

In the past, however, both Total and Cnooc have questioned the amount of crude that needs to be pumped through the pipeline every day, and the tariff they will charge to move the product.

While government insists on a proposed 30,000 barrels of oil refinery to have the first call on crude oil resources, the oil companies wish to have more than the agreed 212,000 barrels of oil to be pumped through the pipeline. The less oil shipped out, the higher the tariff, which will largely be borne by the final consumer.

Uganda has so far discovered six billion barrels of oil, with anywhere between one billion and 1.4 billion of that said to be recoverable.
If Cnooc does not buy Tullow Oil’s stake, it would weaken the Chinese firm’s influence in the geopolitics of the region. It is not just the pumping of crude that is at stake but also the money and political influence that comes with the engineering, procurement and construction contracts.

Total has made strong inroads in Tanzania, having pulled off a masterstroke to convince President John Pombe Magufuli to agree to an export pipeline route from Hoima. All this coming after President Yoweri Museveni and Kenya's Uhuru Kenyatta had shaken hands on a gentleman’s agreement to have the pipeline built towards the Kenyan coast of Lamu.

jeff@observer.ug

Cnooc questions investment in oil pipeline



OIL & GAS / AFRICA
CNOOC opts out of Uganda pre-emption
by Ed Reed
28/05/2020, 7:48 am
Tullow Oil

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CNOOC Uganda will not pre-empt the sale of Tullow Oil’s stake in Lake Albert to Total.

Tullow announced the Chinese company’s decision, saying that this paved the way for an agreement on tax.

Total and Tullow announced a deal had been struck on April 23. The French company was to pay $575 million for Tullow’s 33.33% stakes in Blocks 1, 1A, 2 and 3A and the East African Crude Oil Pipeline (EACOP). Tullow is the operator of Block 2.

CNOOC had pre-emption rights for a 50% stake of Tullow’s sale. The Chinese company’s decision not to become involved allows the deal to go ahead as set out, with no changes to the transaction or timeline, Tullow said.

The deal should be completed in the second half of the year.

Tullow set out plans earlier this year to sell off $1 billion worth of assets. The Uganda agreement would represent a major step in this plan, although it is something of a climbdown. In January 2017, Tullow agreed to sell a 21.57% stake in Uganda to its partners for $900mn, which would have left it with 11.76%.

There are a number of conditions still to be completed on the Total-Tullow agreement and there can be no certainty that this deal will succeed where the previous one failed. Tullow cited the need for a binding tax agreement with the Ugandan government and the Uganda Revenue Authority (URA).

One potential problem may be Jackson Wabyona who has filed a case in Uganda attempting to put the Tullow sale on hold.
Wabyona, who filed a similar case in 2017, has accused Tullow of attempting to exit Uganda without paying the full amount of taxes due.

The Monitor newspaper reported earlier this week that, following Wabyona’s challenge, the Commercial Court had summoned a number of law companies – Curtis, Mallet-Prevost, Colt & Mosle; Freshfields Bruckhaus Deringer and Three Crown Services – in addition to Tullow and the local tax authorities.

CNOOC opts out of Uganda pre-emption - News for the Oil and Gas Sector
 
Duh...

Sasa hela ya kulipa mkopo wa SGR itatoka wapi kama Uganda inaleta uzinguaji?
 
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