How Museveni Will Spend Oil Money

Uganda discovered commercially viable oil in the great albertine region in 2006 but has not been able to get it out of the ground. The country, however has taken the necessary steps to see start oil production. This oil, once it comes out of the ground is expected to turn around the fortunes of the impoverished country which over the years has had substance agriculture as its main source of revenue. Because of this importance, questions of how money that will come out of oil and gas will be spent has risen a couple of times within public domain and debate but with little answers. However in his new year’s statement, President Yoweri Museveni gave a glimpse of how this much awaited money will be used. Uganda has discovered an estimated 6.2 billion barrels of crude oil in Bunyoro and parts of West Nile, areas that make up part of…

Government Targets Gas In Albertine Region To Reduce Cost Of Farm Fertilizers

Farmers in Uganda will soon access cheap and locally made fertilizers when factories in Tororo in Eastern Uganda and Lake Albert in Bunyoro, western Uganda become operational. The revelation was made by President Yoweri Kaguta Museveni while addressing a press conference in Jinja Tuesday 29th December, 2015. The president’s comments were triggered by farmer’s minimal use of fertilizers because they cannot afford to buy imported fertilizers. This has led to low farm output. “The other issue is that they are not using fertilizers, they are using natural fertilizers. We are going to work out a programme,” the president said referring to low farm out by farmers in the country. “We are building a factory of fertilizers in Tororo, we shall build another one in Lake Albert with the gas there, so that with the fertilizers our people get higher yields.” President Museveni who is seeking re-election said promisingly. Government, according…

Pension Fund Tipped On Investing In Energy Sector, Oil Refinery

Uganda shouldn’t be borrowing money from China to fund its energy projects when institutions like National Social Security Fund (NSSF) have the money and capacity to finance such initiatives, President Yoweri Museveni has said. The president was speaking at a dinner organized to celebrate 30 years of NSSF Uganda’s existence at Serena Hotel in Kampala. The NSSF is a National Saving Scheme mandated by government through the NSSF Act to provide social security services to employees in Uganda. “We borrowed money from china to build Karuma dam and we (government) contributed 15 percent. In the future, NSSF could have a stake in dams like Ayago; Karuma is already funded,” the president siad. President Museveni said Ayago dam alone would generate about 800MW. Karuma Power Station is a 600 megawatts hydroelectric power project under construction at Karuma Falls on the banks of River Nile in Uganda. Construction of the dam and…

Total Want Oil Production To Start ‘Soon’ Despite Volatile Prices

In a meeting with President Yoweri Museveni of Uganda, Patrick Pouyanné, CEO and Chairman of Total, Total’s expressed strong commitment to work towards producing the Ugandan oil resources as soon as possible whatever the global oil price. Pouyanné’s lack of fear for the volatile oil prices that have ripped the industry globally comes from the fact the ‘Uganda oil resources are potentially low cost resources' and 'will be competitive in the market’ President Museveni and Patrick Pouyanné according to a statement issued by the oil company discussed ‘issues related to the oil industry in general as well as the projects of Total in Uganda’ at the December 22, 2015 meeting. The statement said the two discussed the studied outlets to market the Ugandan oil at national, regional and international level including the view that the crude export route should be primarily selected on the basis of economical criteria, lowest cost…

Total Searching For Best Innovative Business Idea In Shs130m Challenge

Total Uganda recently launched the “Startupper Challenge of the year” to support innovative projects in the country. The call for projects is free and open to any Ugandan citizen aged 35 years and below. While launching the contest at the Sheraton Kampala Hotel, Florentin de Loppinot, the Managing Director of Total Uganda, explained that the Challenge is aimed at identifying, rewarding and supporting the best projects in enterprise creation and development in Uganda and 33 other countries on the African continent”. “We have put an age limit of 35 years because we believe the youth are vital in realizing the social economic development of this country,” de Loppinot said. Initiated by the Total Group in 34 African countries simultaneously, the Challenge will support innovative projects which are less than 2-years old. The winning projects will be granted the “Startupper of the year 2016 by Total” label, with a financial support…

Petroleum Distributor Vivo Sends Five To Ferrari World Theme Park

This year, Vivo Energy the company that distributes and markets Shell branded fuels and lubricants in Africa, through the Shell V-Power brand sent five loyal customers and members of its Shell V-Power club to Abu-Dhabi to tour the Ferrari world theme park and an opportunity to attend the Abu Dhabi F1 Grand Prix. This was made known at the climax of a seven months long promotion to engage members of the Shell V-Power club that was formed and launched in April 2015 at the Fast & Furious 7 movie Premier in Kampala. The club was created to reward the members based on a points system every month to enjoy exclusive rewards from various partners leading up to the grand prize of 5 fully paid trips to Abu Dhabi. While handing over the fully paid trip packages to the winners at Kampala Serena Hotel, Vivo Energy Managing Director Hans Paulsen hailed…

Tullow Oil Scholars Complete UK Masters Programmes

Eleven Ugandans, awarded scholarships in 2014 under the Tullow Group Scheme Scholarship (TGSS), have successfully completed their Masters’ programmes in various fields related to the oil and gas industry in the UK. The graduates were recently hosted to a welcome reception organised by the British Council at Kampala Serena Hotel. Jimmy Mugerwa, General Manager, Tullow Uganda, was pleased to welcome the students back from their studies saying it was a privilege for Tullow to facilitate this learning programme and to ensure that candidates grow and succeed in not just the oil and gas industry, but also the economic diversification in Uganda. The Tullow Group Scholarship Scheme was set up to support talented nationals like the successful scholars we see here today. “By developing local capacity, we are investing in skilled human capital which is a critical resource for any business and more so in the growing oil and gas sector.…

Uganda Put Under Pressure To Join EITI And End Oil Secrecy

The government of Uganda has been asked to subscribe to Extractive Industries Transparency Initiative (EITI), a global Standard, to promote open and accountable management of natural resources. To ensure government adheres to its responsibility of being an accountable stakeholder in the extractive industry, Global Rights Alert (GRA), a human rights- civil society organization based in Kampala, launched ‘Our Oil Our Future’ campaign. The campaign seeks to encourage the government of Uganda to improve transparency in the governance of oil and other mineral resources by signing on to the Extractive Industry Transparency Initiative (EITI). The campaign will collect 1000 signatures from the public with each signature petitioning the president to subscribe to EITI so that the government and oil companies open up on their transaction to allow citizens follow the transactions. The #OurOilOurFuture campaign seeks to put an end to oil secrecy as it has been exhibited in oil producing countries.…

Uganda Tops In Renewable Energy

Developing nations eclipsed the world’s wealthiest countries in 2014, attracting more clean energy investment and building more wind, solar, and other renewable power generation than ever before, according to a global assessment released today. Climatescope, the clean energy country competitiveness index, interactive report, and online tool supported by the UK government, US government, and the Inter-American Development Bank Group offers a compelling portrait of clean energy activity in 55 emerging markets in Africa, Asia and Latin America and the Caribbean. The report indicated three African countries finished in the top 10: South Africa (4th), Kenya (6th) and Uganda (9th).This shows that some African countries are embracing the clean energy opportunity. Uganda who emerged a position higher compared to last year’s Climatescope rankings, has just over 900MW of power-generating capacity, of which 17% comes from renewable sources excluding large hydro. This is primarily small hydro projects and co-generation capacity attached to…

CNOOC Uganda sponsors Bunyoro Amasaza Cup

CNOOC Uganda Limited, an oil and gas company, recently announced its sponsorship of the Bunyoro Amasaza Cup 2015. This marks four years of the oil company’s support towards the tournament which attracts various counties in Bunyoro Kitara Kingdom. The month-long tournament will attract five districts in the BunyoroKitara Kingdom includingKiryandongo, Bulliisa, Hoima, Masindi and Kibaale. The announcement was made at a press conference graced by His Royal Majesty the King of Bunyoro Kitara Kingdom; Dr. Solomon GafabusaIguruin Kiryandongo district. Speaking at the press conference, ZakariaLubega,Corporate Social Responsibility Manager (CSR)CNOOC Uganda Limited, stated that CNOOC Uganda was honored to be part of the Amasaza Cup for the fourth year. “As we carry out our core activities in the Bunyoro region, it is important for us to give back to the residents in the area as a sign of appreciation for their supportto our Company and employees." “When we began operations in…
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