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
Read MoreOil & Gas
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
Read MoreBy 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
Read MoreBy Peter Abaanabasazi The government of Uganda has held a crisis meeting with key oil contractors to avert an impending oil curse. This follows public outcry from locals in Bunyoro region, the host of various oil related activities that they are being denied jobs by companies executing oil related works.
Read MoreUganda risks losing trillions of shillings in recoverable costs to oil companies, says Parliament’s Public Accounts Committee (PAC). This is a result of Ministry of Energy and Mineral Development’s failure to demand oil reports from the oil companies. The committee members while meeting the officials from Energy Ministry led by
Read MoreLondon-based oil explorer Tullow on Wednesday said it had pumped additional $2.9 billion (KSh293 billion) into the operation targeting full-scale export of Kenya’s oil to begin in four years’ time, reports the Daily Nation. Tullow, which has already spent more than $1 billion (Sh101 billion) in exploration activities over the
Read MoreFuel pump prices have already hit the Shs4,000 mark in some parts of the country, a development that has seen many Ugandans ask why the sudden rise. Against the above background, on 31st January, 2018, Mohammed Nsereko, the Kampala Central MP raised concern on the floor of Parliament over the
Read MoreThere’s increasing uncertainty about the drilling and production of Uganda’s oil, with some locals in the oil-rich Bunyoro suspicious of the ongoing activities. On Wednesday, Dokolo Woman MP, Cecilia Ogwal, raising a matter of national importance regarding the revenue accruing from petroleum resources on the floor of Parliament, revealed that
Read MoreBy Patrick Kiconco Katabaazi I have read various posts on facebook and other social media platforms where people are complaining bitterly about the rising fuel prices. Many social media enthusiasts wonder why oil prices are rising when the Budget Frame Paper is yet to be approved by parliament. Others have
Read MoreTullow Oil has over the last one year substantially reduced its number of employees in Kenya. This has been through failure to renew contracts that were up for renewal in the course of the year as well as actual layoffs, where employees were sent home after being given a send-off
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