Tanzania has directed multinational companies operating in the country's extractive sector to open local bank accounts so authorities can scrutinise their finances. The move is in line with new mining laws aimed at curbing illicit financial flows in the oil and gas subsectors. The companies are required to comply with
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Ugandan President Yoweri Kaguta Museveni on Sunday April 13, 2018 met investors from the MAN Group of India that specializes in the production of coating and insulation for oil pipelines, Business Focus understands. MAN is one out of four companies in the world that is in this line of business.
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The Resident Coordinator of the United Nations System in Uganda, Rosa Malango has said the relatively effective laws, policies and regulations governing the oil and gas sector should be replicated to streamline other sectors in the country. Addressing the 4th Oil and Gas Convention in Kampala on Thursday, Malango said
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Private security firm, Askar Security Services is ready for the task of providing security in the oil and gas sector, the company's operations boss has revealed. Julius made the remarks at the just concluded 4th Annual Oil & Gas Convention held at Kampala Serena Hotel on Wednesday and Thursday. "We
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The Ministry of Energy and Mineral Development’s Petroleum Supply Department has listed and shamed 114 fuel stations selling adulterated fuel in Uganda. Yusuf Masaba, a Communication Specialist at Ministry of Energy and Mineral Development told Business Focus that the named companies will be penalised in accordance with administrative guidelines and
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The chairman of the Uganda Chamber of Mines and Petroleum (UCMP), Dr Elly Karuhanga, has urged Ugandans to ensure production of "world class" goods and services if they are to land lucrative contracts from the oil and gas sector. Karuhanga's call comes just days before the fourth Annual Oil &
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The Minister of State for Higher Education, John Chrisestom Muyingo, has revealed that government is committed to skilling of Ugandans in the Oil and Gas sector to make sure they tap the benefits of the industry. Muyingo made this revelation on Thursday while addressing participants of the Oil and Gas
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President Yoweri Museveni has challenged Western companies to take interest in helping Africa explore its resources potential, saying the continent presents immense business opportunities. "There is a lot of sleeping in Africa. You find people who should know but instead don't know," said the President. "And also there has been
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As Uganda prepares to see her first oil in 2020, Small and Medium Enterprises (SMEs) have been urged to prepare as well to cash in-on the opportunities in the sector. According to experts, US$15bn (Shs54.7 trillion)-US$20bn (Shs73 trillion) is expected to be invested in Uganda’s oil and gas sector in
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By Aloysious Kasoma Uganda is in the final stages of constructing the oil pipeline, but has a deficit of 1,500 qualified welders to handle the project. These are required to fulfill the local content laws. The required welders must have an American Welder’s Certificate and a wealth of experience. The
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