According to the report, the second half of 2021 saw the beginning of the biggest energy crisis in modern history, exacerbated by the Russian Federation’s invasion of Ukraine in early 2022 and unprecedented global commodity shock.
The oil companies say it is up to the government to withhold or release them, while the government say that it agreed, at the proposal by the companies, that not all in the agreement should be open to public viewing, so as to protect them from possible piracy by global competitors.
Christine Nnatongo, the strategic partnership, and programs advisor at Maendeleo Ya Jami challenged the youths to change their mindset and become business-oriented to be able to supply the oil and gas sector. She says the trainees have been availed with all the techniques and skills on how to meet the standards needed to supply the critical oil and gas sector.
Different engineering firms and their subcontractors have descended on Buhuka in Kikube and Buliisa districts. While there is an impression that many firms are shunning the project over environmental concerns, a number of foreign firms have taken up jobs in the oil fields.
Cnooc Uganda head of corporate affairs, Zac Lubega says they have decided to invoke the law that allows them to take over land without the consent of the owner or user, and that they will deposit the value equivalent with the courts of law.
The effect of this, among others, is that the oil and gas and other resources being exploited in these areas are increasingly being seen as meant for the benefit of foreign companies and government officials, not the communities and the general population.
The Head of the National Content in the Directorate of Petroleum, Brian Ochaki Kabalega says there are plans to establish a local content development fund from which local suppliers can access cheaper credit.
The discovery of commercial hydrocarbons in Lake Albert and its shores has led to border disputes between Uganda and DRC.
There are fears that tension may increase once Uganda begins the extraction given that the boundary between the two countries in the lake cannot be easily identified.
Total E&P Uganda General Manager Pierre Jessua in statement on Monday the selection of the five companies followed what he described as a comprehensive and thorough tender evaluation and contracting process.
Tullow said on Wednesday that 99.9 per cent of its shareholders had voted for the transaction that will see all its interests in Uganda’s oil industry be taken over by the French oil giant Total E&P. Tullow will be paid USD 500 million payable at completion and USD 75 million payable after the project's final investment decision.
Proscovia Nabbanja, the CEO of UNOC told reporters in Kampala on Wednesday that the money will be needed in a phased manner in five years. This means each year, the company should be receiving at least $168m (UGX 618bn).
Uganda has said over the years that it will use its only money to set up infrastructure, investment in other sectors like agriculture where millions of Ugandans earn a living, and industrialization of major mineral and agro-processing industries.
Currently, the government and oil companies are implementing several Infrastructure and environmental social Impact studies in preparation for the first barrel of oil expected by 2022. Part of the ongoing works includes the construction of an airport in Buseruka, studies on the East African Crude Export Pipeline, construction of the oil refinery and development of oil roads.
However, most individuals in the Albertine region owning businesses are ignorant on how they can get registered on the NSD. They fault the government for not doing enough to sensitize them about the database.
The delegation hosted jointly by Stanbic Bank, the Energy Industries Council EIC and the British High Commission is led by Lord Dolar Popat, the UK Prime Ministers Trade Envoy to Uganda and Rwanda. It is the first of its kind from the UK in the energy sector.
Joseph Xavier Kiiza, the First Deputy Prime Minister, Bunyoro Kingdom, says the fact that government and Oil companies are consulting during the secondary stages of the policy, show how the kingdom land is being taken for granted.