Sharp Daily
No Result
View All Result
Thursday, June 26, 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

Why firms are shedding jobs despite survival

June 19, 2025

Opinion: Austerity wrong medicine for Kenya’s economy.

June 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

Investments

Investor shift to long term bonds drives oversubscription in CBK’s reopened auction

June 19, 2025
News

The real price of Israel – Iran Conflict for Kenya.

June 19, 2025
Economy

Resilient but strained: Kenyan firms speak out in May 2025 CEO survey.

June 19, 2025
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

LATEST STORIES

How Kenyan banks can bridge the cybersecurity talent gap

June 25, 2025

How companies can prevent administration through early intervention

June 25, 2025

How dairy bonuses are becoming a lifeline for Kenyan farmers

June 25, 2025

How dormant assets could be a hidden economic engine

June 25, 2025

Rethinking lifestyle inflation: The quiet investment killer

June 25, 2025

How Kenya can compete with global employment markets

June 24, 2025

Why Athi River deserves your investment

June 24, 2025

Parliament slashes tax on digital asset trades: What this means for investors

June 23, 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