Page 9 - AfrOil Week 48 2022

AfrOil INVESTMENT AfrOil

OGTAU Skills Dialogue hosted by Busoga International Polytechnic Jinja (Photo: LinkedIn/@OGTAU)
The newspaper also quoted James Okwi, the Crude Oil Pipeline (EACOP), which is targeted
skills development officer at the Petroleum to start up in 2025. Kampala and TotalEnergies
Authority of Uganda (PAU), as saying the coun- are negotiating with dozens of financial institu-
try needed training institutes in the oil and gas tions on funding for the link, which will follow
sector. He pointed to countries such as Nigeria, a 1,443-km route from Uganda’s oilfields near
which has heavily invested in human resources, Lake Albert to Tanzania’s Indian Ocean port of
and indicated that Uganda could benefit from Tanga.
similar institutions. TotalEnergies is leading the EACOP project
The call from the association, which includes and has a 62% stake in the pipeline consortium.
representatives from academic institutions and Uganda National Oil Co. (UNOC) and Tanzania
public and private sectors, is coming as Uganda Petroleum Development Corp. (TPDC) each
seeks loans for the planned $4bn East Africa have a 15% interest, while the remaining 8% is

POLICY
ENOC denies reports of talks with Ghana on

accepting gold in payment for fuel

GHANA DUBAI-BASED Emirates National Oil Co.
(ENOC) has denied reports that it is in talks
with Ghana on supplying refined fuels to the
West African state in exchange for payment in
gold, Bloomberg reported on November 29.
In response to queries from the news agency,
ENOC issued a firm denial. “This is totally
baseless and incorrect,” a spokesperson for the
company said. “There have been no discussions
regarding this subject.”
Bloomberg sought clarification after Kabiru
Mahama, an economic advisor to Ghanaian
Vice President Mahamadu Bawumia, claimed
on November 25 that officials in Accra had
struck a supply deal with the Emirati company. Mahama claimed on November 25 that Accra and ENOC
Mahama described the deal as “tentative” had struck a deal (Photo: Facebook/@DrKBMahama)
and did not divulge the financial or logistical
details of the proposed transaction. However, he Mahama’s announcement of the deal with
was quoted by Bloomberg as saying that Accra ENOC came one day after Bawumia wrote in a
was ready to negotiate with “any international post on Facebook that Ghana’s government was
oil trading company that is interested” and will- negotiating a new policy that would allow for the
ing to accept payment for petroleum products in payment of imported fuels with gold rather than
gold rather than cash. US dollars.

Week 48 01•December•2022 www. NEWSBASE .com P9