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Uganda's oil sector registers improved ratings

In the latest global index report released by a New York based Natural Resource Governance Institute (NRGI), a non-profit entity that advocates for good governance in natural resources, Uganda’s Petroleum and mining sector scored 49 per cent and 55 per cent, respectively.

This score by the Ugandan Oil sector according to the index released last week, was propelled by among other factors, improvements in revenue transparency, corporate governance of state-owned Uganda National Oil Company, and reporting on the performance of the Petroleum Fund.

“Despite the positive upward trend, challenges remain, placing governance of Uganda’s oil and gas sector in the “weak” performance band,” the index report reads in part.

The ratings, the index noted, received a “failing” score, hampered by absence of a cadaster, lack of beneficial ownership, rules on public disclosures and government’s failure to disclose contracts with oil companies – French Total Energies EP, and China’s CNOOC.

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Tanzania’s president Samia Suluhu Hassan on Sunday, April 11 arrived in Uganda for talks that should culminate into the signing of deals between the two East African countries.

Uganda’s Ministry of Foreign Affairs on Sunday through social media said that President Samia arrived in Uganda Sunday morning for a one-day official visit.

President Samia Suluhu was received by Sam Kutesa, Uganda’s Minister of Foreign Affairs, who was in the company of other senior government officials.

State visit

This is the first official visit to Uganda by President Samia Suluhu since she assumed the Office of President …