President Yoweri Museveni yesterday promised to scrap some taxes currently being levied on investments in the extractives sector, saying they slow down economic growth. Read More
Prospective investors eyeing Uganda’s oil refinery will be pleased to learn that the government plans to invite them to express their interest in the project by the end of next month, according to a statement from the Ministry of Energy and Mineral Development. Read More
Uganda topped the region in attracting Foreign Direct Investment (FDI) last year, with most funds going into oil, gas and mining sectors, says a report released by the United Nations Conference on Trade and Development (UNCTAD). Read More
Africa has seen a flurry of activity in its oil and gas sector, with an average of a deal worth 100 million dollars being struck every four days in 2011 and 2012, according to a recent report by PwC, the leading energy advisory firm in the world.
The June 2013 issue of the Africa Oil and Gas Review offers a peek into the increasing volumes of trade in Africa’s oil and gas industry, worth a total value of 19 billion dollars in the last two years. Read More
South Sudan is urgently working on an alternative route to get its crude oil to markets by road, in the short term, if the agreement it signed last week in Addis Ababa with its Northern counterpart collapses again.
The two countries agreed that South Sudan would resume production by March 24, 2013, following months of back and forth negotiations.
South Sudan suspended oil production in January last year, accusing the North of charging exorbitant pipeline transit fees. The two sides signed an agreement last September, for Juba to resume exports through Sudan, but disagreements over border security issues delayed its implementation. Read More
John Page, a Senior Fellow of Global Economy and Development at the Brookings Institution, together with Mark Henstridge of Oxford Policy Management, authored a paper, Managing a Modest Boom: Oil Revenues in Uganda, in which they argue that Uganda’s oil revenues will take “at least a decade” to arrive and will not by themselves transform the country, probably growing to no more than five percent of gross domestic product for a thirty-year period.
Mr. Page was recently in Kampala to participate in a regional oil and gas summit organized by the Economic Policy Research Center (EPRC), a Makerere University-based think tank.
Oil in Uganda talked to him about Uganda’s oil industry. Read More
Uganda does not necessarily have to adopt the Norwegian model for it to have a sustainable oil industry, says Zimbabwean born Dr. Duncan Clarke, an author and commentator on oil issues in Africa.
In a presentation to the 6th East African Petroleum Exhibition and Conference in Arusha last week, Dr. Clarke referred to the Norwegian model as the “advocacy NGO type model” which “constrains the growth of the natural resource.” Read More
Ugandan motorists will fill up their cars with locally processed fuel in four years time, according to the permanent secretary of the country’s energy ministry.
Addressing the sixth East African Petroleum Conference and Exhibition in Arusha last week, Fred Kabagambe Kaliisa insisted that Uganda’s refinery will start operating in 2016/17, with an initial capacity of 60,000 barrels of oil per day (bopd). It will be expanded two years later to enhance production to 120,000 bopd, and later to 180,000 bopd “to match the growing regional petroleum products demand.” Read More
Key speakers at the ongoing regional forum on oil and gas in Kampala have emphasised the need for proper management of oil revenues as the East African Region prepares to join the world’s oil and gas producers.
While opening the forum, Uganda’s Finance Minister, Hon. Maria Kiwanuka, stressed that oil revenues should be used to boost the sustainability of other productive sectors. “We want the black gold underground to facilitate the green gold above the ground”, she said. “Agriculture and tourism are all renewable resources vital to our economy. They need good financing for sustainability”. Read More
The Oil in Uganda team extends warm, seasonal greetings to all our readers. Also, to entertain you in between bouts of feasting, we have prepared a little quiz to test your general knowledge of oil in Uganda and beyond. Doing the quiz won’t, alas, make you a millionaire, but you may glean some interesting–and some shocking–facts. The answers to the following twenty questions appear at the end of the text—together with a ‘performance assessment’ depending on how many questions you answered correctly. Read More