Civil society organization dealing with the battle against graft is challenging the president of the country to expeditiously relieve the implicated ministers in the oil cash scandal of their duties are investigations go on. The executive director, Anti corruption coalition Uganda (ACCU) Cissy Kagaba says the president has for long been telling the nation that he is […]
President Yoweri Museveni has assured Ugandans that the government is committed to managing the country’s oil resources as transparently as possible. In a press conference Wednesday evening, Museveni said the government is making all efforts to follow due process in awarding contracts to oil companies and ensuring that Ugandans benefit from the oil resources. […]
The government of Uganda is drafting a policy for managing petroleum revenues as the country prepares to start exploiting the oil deposits in western Uganda. According to the senior economist in the ministry of finance David Mugisha all revenues from oil will be controlled by the central bank. Mugisha says under the draft policy the […]
Neptune petroleum Uganda is in process of drilling another well in the west Nile Rhino camp after failing to discover oil in its last two attempts. The new attempt according to a top company official is based on a new prospect located over 15 kilometers away from the spot they last explored. The new exploration […]
With Uganda yet to starting drilling and selling oil with the government ready to bag more revenue to increase the country’s resource envelope, the governor of the central bank Emmanuel Mutebile is advising the government to invest oil revenue in activities that will generate revenue in future. According to Mutebile, oil is one of those resources that gets […]
The Government of Uganda is planning to use tax payment from Tullow oil to finance the construction of the much awaited Karuma Dam in northern Uganda. Kaith Muhakanizi, the deputy secretary to the treasury while addressing journalist said that the government’s position is to use the money to build the proposed Dam that has had […]
The government of Uganda has promised that later this year it will lift a moratorium on awarding oil prospecting licences to interested companies. The Prime Minister, Prof. Apollo Nsibambi says that the government through the Ministry of Energy and Mineral Development had placed a hold on issuing out licences to first ensure there is adequate […]