Browsing: Uganda National Oil Company (UNOC)

Kenya-Uganda oil deal | East African Court of Justice
  • Uganda has moved to the East African Court of Justice (EACJ) over alleged Kenya's move to block it from importing its refined petroleum products.
  • In 2016, Uganda opted to work with Tanzania to develop a pipeline to evacuate crude oil from its fields in Hoima, western Uganda.
  • This dealt a blow to an initial plan to jointly construct a 1,500-kilometre-long pipeline from oil-rich Hoima to Kenya’s Lamu port, a project envisioned to cost about $2.5 billion.

Kenya’s fallout with Uganda on importing refined petroleum products has caused another rift between the neighbouring countries, threatening trade and bilateral relations.

On December 28, last year, Kampala lodged a case at the East African Court of Justice (EACJ) against Nairobi for blocking its plans to shift from purchasing petroleum products from Kenya to importing consignments.

Over the year, Oil Marketing Companies (OMCs) in Uganda have picked imports from Kenya Pipeline’s depots in Eldoret…

Cooperatives in Uganda to benefit from Stanbic skills centre

The Stanbic Business Incubator Centre and Uganda Cooperative Alliance (UCA) signed a memorandum of understanding (MoU) to help streamline the business operations of member societies in Uganda.

According to the MoU, the two entities will partner and collaborate in the development and sustainability of cooperative businesses through enterprise development, specialised training and dissemination of information as well as to build a mutual relationship and benefits between the two entities.

Speaking during the signing of the MoU, the Executive Director Stanbic Business Incubator Limited, Tony O. Otoa, said that the partnership will allow them to give the services of the project to Uganda’s cooperative movement.

“The Stanbic Business Centre provides an enabling environment for entrepreneurs in small and medium-sized enterprises to acquire the knowhow to ensure the sustainability of their enterprises.  Among other programmes, through this partnership, we shall jointly develop and implement a series of initiatives on National Content suited …

Uganda, Total deal on UNOC's role in pipeline

The government of Uganda made a deal with Total that will guide the involvement of Uganda National Oil Company (UNOC) in the crude oil export pipeline.

According to the agreement, Uganda National Oil Company (UNOC) will hold a 15 per cent stake in the project. It also shows in detail how the National Oil Company will finance its operation and participation of the over 1,400km Uganda-Tanzania pipeline.

In a press statement issued by Total, the company said that the agreement to allow the participation of UNOC in the pipeline project was reached between President Yoweri Museveni and Patrick Pouyanne, Total’s chairman and chief executive officer.

The managing director of Total E&P Pierre Jessua, said the decision is a major milestone that will lead to the Final Investment Decision (FID) for Uganda’s oil projects in the coming months.

“We now look forward to concluding a similar HGA (Host Government Agreement) with …

UNOC to invest $840m in oil and gas sector

Uganda National Oil Company (UNOC) to invest $840 million in joint infrastructure projects in the oil and gas sector in Uganda, said Proscovia Nabbanja, the Chief Executive Officer.

Nabbanja signed a memorandum of understanding with Stanbic Bank to facilitate the two entities collaborating to train local entrepreneurs ahead of oil developments.

She said a significant amount of money either through loans or the national budget will go towards investments in the refinery, pipeline, bulk trading, storage tank as well as the industrial park.

“We hope that this level of equity will be spread in a period of five years in our national budgets to ease pressure on the country’s debt burden,” she said. “The investment will be based on the medium-term expenditure framework.”

Also Read: Uganda projected growth too ambitious, World Bank

Out of the planned $4 billion in the oil refinery and $3.5 billion investment in the pipeline, UNOC …