Uganda announces new Albertine Graben bid round
Explorers are likely to benefit from infrastructure being put in place for the existing crude export project
Uganda is offering five new exploration blocks in a second licensing round in the Albertine Graben, the area around Lake Albert, where China's CNOOC, France's Total and UK-based Tullow are developing a 216,000bl/d crude export project Uganda's energy minister, Irene Muloni, told an oil conference in Nairobi, Kenya that she expected strong interest in the round given the current high oil price and that the cost of finding oil in Uganda was relatively low. This cost is currently at under $1/bl in the country compared to a world average of $2/bl, according to a post on the ministry's Facebook page. "I am very pleased to announce that my five new brides are ready. They are very attractive and
Also in this section
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
3 March 2026
The killing of Iran’s Supreme Leader Ayatollah Khamenei in US–Israeli strikes marks the most serious escalation in the region in decades and a bigger potential threat to the oil market than the start of the Russia-Ukraine crisis
2 March 2026
A potential blockade of the Strait of Hormuz following the escalating US-Iran conflict risks disrupting Qatari LNG exports that underpin global gas markets, exposing Asia and other markets to sharp price spikes, cargo shortages and renewed reliance on dirtier fuels
