Investment from oil explorers and expansion in the services sector will be key factors in steering Uganda’s economy to a percentage growth rate of 7% per year in three to five years’ to come. The Minister of Finance, Planning and Economic Development, Maria Kiwanuka says this is up from a projection of 6% made earlier
Is oil giving Hoima a new lease of life? Tracing the changing face of Uganda’s “Oil City”
On the Journey to Hoima It’s 4:00pm and I am boarding a commuter taxi to Hoima. It’s not the first time I am travelling to Hoima and neither is it the last. The only difference today, I am not just travelling back home to check on my parents. I have to check on our oil
TOTAL C.E.O CHRISTOPHE DE MARGERIE DIES IN PLANE CRASH
Christophe de Margerie, CEO of French oil giant Total was killed Monday night when the business jet he was flying in crashed upon takeoff at Vnukovo Airport in Moscow. In addition to De Margerie, 63, four others perished in the accident, including three crew members and the driver of a snow removal machine with which the
World Bank to support Uganda’s oil projects despite protests from London NGO
The World Bank will support Uganda’s Ambitious community and infrastructural development Project in the Albertine Graben despite protests from Global Witness, a London based Non- Government Organization Through the World Bank loan, the government hopes to invest at least $153.89 million (about UShs412.5 billion) in all the nine districts in the Albertine region. However Global
Uganda has a large natural resource base- Museveni
Apart from having Oil and Gas, a recent survey has spurred a discovery of a lot of minerals that exist in Uganda such as iron-ore, marble/limestone, gold, uranium, vermiculite, nickel, platinum, chromium, kimberlites (diamond), bentonite, aluminium clays, phosphates, copper, cobalt, wolfram, tin, coltan, rock salt and brine. According to Uganda’s President Yoweri Kaguta Museveni in
We need less of the oil excitement and more focus on agriculture
The discovery of oil is the kind of news that usually excites developing nations in many of which instances, the countries will focus on the prospective oil wealth as a potential trigger to the nation’s financial triumph. But for the beleaguered small-scale subsistence farmer who sits at the tail end of the social radar, such
Uganda’s Vice President Edward Ssekandi urges more Chinese Companies to invest in Uganda’s Oil Industry
The Vice President of Uganda Edward Ssekandi has called upon more Chinese Companies to invest in Uganda’s Oil Sector The Chinese National Offshore Oil Company (CNOOC) is one the three Major Oil Companies operating in the Uganda’ the Vice President of Uganda Edward Sekandi has called upon more Chinese Companies to invest in Uganda’s Oil
The 2012 Oil Contracts: a good financial deal for Ugandans but without human rights and environmental safeguards
The Government of Uganda achieved a better deal, at least in the financial sense, for its oil in the Production Sharing Agreements that the government signed in 2012. The terms of the 2012 agreement are far more financially beneficial to Uganda compared to the agreements made before 2008, a report by Global Witness, an Oil
Uganda’s estimated oil reserves rise to 6.5 billion Barrels
Uganda’s Petroleum resources are now estimated to be at 6.5 billion barrels up from 3.5 billion barrels that was estimated in August 2012. According to a press statement of Kabagambe Kaliisa, the Permanent Secretary of the Ministry of Energy and Mineral Development that Ultimate Media has seen, the increase in the estimated petroleum resources is
Government starts compensating oil refinery evictees
The government has started the payment of the 718 residents- Project Affected Persons (PAPs) that were evicted as result of the plans to build an oil refinery complex in Hoima District. The victims are residents of 13 villages in Kabaale Parish, and according to the government’s Petroleum Exploration and Production Department (PEPD), Shs70 billion was