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Tag Archives: Petroleum

Iran, Russia sign MoU for petroleum investment

Tehran, Iran | Xinhua | Tehran and Moscow on Tuesday signed a memorandum of understanding, based on which the latter is expected to make an investment worth roughly 40 billion U.S. dollars in Iran’s petroleum industry, the Iranian Oil Ministry’s news service Shana reported. The document was signed during an online …

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Gov’t agencies, marketers seek solutions to fuel quality violations

Kampala, Uganda | THE INDEPENDENT | Government agencies and petroleum marketing companies are divided on whether or not to resume the countrywide crackdown on fuel stations that violate standards. These activities were suspended when COVID-19 broke out more than two years ago and movement became more restricted. The crackdown involved checking the …

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Government considers capping fuel prices, refuses to waive taxes

Kampala, Uganda | THE INDEPENDENT | The government is considering a policy that will allow authorities regulate the costs of some essential commodities like petroleum, to protect consumers from exploitation. This follows the uncontrolled hike in prices of fuel by more than 33 percent over the last one year, with the …

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Five arrested in Lamwo for smuggling fuel from South Sudan

Lamwo, Uganda | THE INDEPENDENT | The police in Lamwo district has arrested five people for allegedly smuggling petroleum products from South Sudan into Uganda. The suspects were arrested on Wednesday in a joint operation conducted by the security personnel and enforcement officers of the Uganda Revenue Authority-URA. Lamwo Resident District Commissioner …

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UNOC to retain money from petroleum sale in new Bill

Kampala, Uganda | THE INDEPENDENT | The Uganda National Oil Company (UNOC) will now retain a portion of the proceeds from the sale of petroleum products following the passing of the Public Finance Management (Amendment) Bill, 2021. During the Tuesday plenary sitting chaired by Deputy Speaker Anita Among, legislators amended the …

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CSBAG cautions against allowing UNOC to retain oil revenue

Kampala, Uganda | THE INDEPENDENT | Civil Society Organizations have cautioned that allowing the Uganda National Oil Company (UNOC) to retain petroleum revenue will mark the beginning of an oil curse in Uganda. They have now asked the finance committee of Parliament to reject a proposal by the government to have UNOC …

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Govt issues oil exploration license to Australians Armour Energy

Uganda Government issues Kanywataba petroleum exploration license to Armour Energy Limited Kampala, Uganda  | JULIUS BUSINGE | Uganda has handed over the petroleum exploration license in the Kanywataba block in the Albertine area to an Australian company – Armour Energy Limited. Speaking at a press conference at the Ministry of Energy offices in Kampala …

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