Sharp Daily
No Result
View All Result
Tuesday, June 3, 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

International Monetary Fund

How Kenya’s move away from IMF Loans could reshape its economic future

May 26, 2025

Digital lending in Kenya: Convenience meets controversy

May 16, 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

Co-op Bank posts KES 6.9 billion profit in Q1’2025

May 16, 2025
Agriculture And Economy
News

Lets get Kenya out of FATF list

May 9, 2025
News

The downside of Impact Investing

May 2, 2025
News

Leadership challenges at the University of Nairobi

April 24, 2025
News

Easter eggs and earnings: Growing your nest egg with CMMF

April 16, 2025
News

Geoffrey Ruku declares KES 377M net worth during CS vetting

April 15, 2025

LATEST STORIES

Best investments for Kenyan seniors: Secure, predictable & low-risk

May 30, 2025

Why June is the Secret Sweet Spot for Travel

May 30, 2025

Strategies to elevate more women to corporate leadership

May 30, 2025

Tap on Kenya’s 2025 tech revolution

May 30, 2025

How CURBS supports employers and employees

May 30, 2025

NSE deserves more attention from young investors

May 29, 2025

The silent strain of remote work on Kenya’s urban workforce

May 29, 2025

How Kenya’s crypto bill could reshape the digital economy

May 29, 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