Sharp Daily
No Result
View All Result
Thursday, October 16, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Uganda MPs pass bill giving UNOC full power to import oil directly from refineries

Clerkson Aroni by Clerkson Aroni
November 15, 2023
in News
Reading Time: 2 mins read

Uganda’s parliament on Tuesday passed a bill allowing the state-owned oil company Uganda National Oil Company (Unoc) to source and supply oil to the domestic market.

The passage of the bill, which now awaits ascension by President Yoweri Museveni, will see Uganda National Oil Company (UNOC)  import the oil directly from the refineries.

During the debating of the bill, the Energy Committee’s chairperson Emmanuel Otaala said  that the bill would ensure that Uganda does not rely on Kenyan companies that were acting as middlemen.

Read more: Uganda expands national oil company reach with Kenya office

RELATEDPOSTS

How public ratings could shift healthcare dynamics in Kenya

September 4, 2025

Why firms are shedding jobs despite survival

June 19, 2025

He went on to say that Kenya instituted the quantities for the Kenyan Domestic Market and for onward transit to neighbouring countries  at a 60:40 ratio respectively.

“In essence, all the fuel imported through Kenya is retained in the Kenyan market and Neighboring countries including Uganda, Rwanda and the Democratic Republic of Congo have to share the 40 per cent allocation,” he stated.

However, In the new plan, the oil will still be transported through Kenya.  MPs who supported the bill said it would reduce fuel costs by cutting out middlemen and fuel cartels that arbitrarily influence fuel pricing.

Uganda’s Energy Minister Ruth Nankabirwa recently said that the country needed to stop importing oil through Kenyan companies as it exposed Uganda to occasional supply vulnerabilities where Ugandan oil marketing companies were considered secondary whenever there were supply disruptions.

Read more: EPRA announces decreased diesel, kerosene prices

according to Ms Nankabirwa, Uganda, imports more than 90% of its fuel through Kenya’s Mombasa port and the remainder through Tanzania’s Dar es Salaam port.

The country is also seeking to find new routes for their oil transportation at Museveni is considering entering an agreement with  Tanzania.

Previous Post

Afreximbank and ARISE IIP tackle food insecurity with new initiative

Next Post

From burgers to buildings: McDonald’s real estate game changer

Clerkson Aroni

Clerkson Aroni

Clerkson is a passionate writer and video creator who is fascinated by football, lifestyle, history, and sharing new discoveries. When he's not researching and writing compelling stories, he's behind the camera capturing informative videos for his audience. He welcomes story ideas and feedback from readers at cmotari@thesharpdaily.com

Related Posts

News

Start Q4 strong with the Cytonn Money Market Fund

October 9, 2025
News

Kenya Q2’ 2025 GDP growth accelerates to 5.0%

October 3, 2025
News

Argentina’s crisis and Kenya’s lessons on political economy and market confidence

September 25, 2025
News

Kenya’s financial system remains stable but faces rising risks

September 25, 2025
News

Where do Kenyan stock returns come from? A napkin framework

September 19, 2025
News

September snapshot: CMMF yields 13.12% as month unfolds

September 5, 2025

LATEST STORIES

CBK flags surge in financial fraud as losses triple to KES 1.6 billion

October 15, 2025

StanChart Kenya retirees face fresh legal stalemate over KES 7.0 billion pension payout

October 15, 2025

U.S. bank earnings take center stage amid government data freeze

October 15, 2025

Anatomy of a bear market

October 15, 2025

Community-driven solutions to Kenya’s growing hunger problem

October 15, 2025

EABL to redeem KES 11.0 billion medium-term notes ahead of schedule

October 14, 2025

Kenya’s 2028 Eurobond Buyback marks a turning point in debt management

October 14, 2025

COMESA’s digital retail payments platform enters trial phase

October 14, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024