President Yoweri Museveni has assured the nation its oil is advanced stage. Museveni was presiding over the 6th Annual Oil and Gas convention themed “Future Outlook: Regional Preparedness for Oil and Gas”. The President confirmed: “We can confidently say that we are ready for the commercialisation of Uganda’s oil.” He said: “We have granted the […]
President Yoweri Museveni has assured the nation its oil is advanced stage.
Museveni was presiding over the 6th Annual Oil and Gas convention themed “Future Outlook: Regional Preparedness for Oil and Gas”.
The President confirmed: “We can confidently say that we are ready for the commercialisation of Uganda’s oil.”
He said: “We have granted the Albertine Graben Refinery Consortium an additional 17 months to complete the environmental and social impact assessment.”
Museveni revealed: The oil pipeline, running from Buseruka sub-county in Hoima to Tanzania, when completed will be the World’s longest heated oil pipeline.”
He went on: “The government of Uganda is not only committed to delivering first oil, but it is also only committed that the resources are used sufficiently.”
The President added: “We can confidently say that we are ready for the commercialisation of Ugandan oil. There is no short cut for a country whose agenda is sustainable exploitation of petroleum resources.”
Museveni reminded the nation: “I know there are some countries in Africa which discovered the Oil later than us but quickly went into production, but for us, we preferred to go slow and understand the industry.”
He confirmed on legislation: “We now have laws in place to govern the downstream, upstream, and midstream. I am not worried about the delays. We discovered the oil in 2005. There are some countries that discovered their oil much later and quickly started exploiting. We had to first understand the industry, and now we do.”
Museveni hailed: “Since we discovered Oil in Uganda, there has been a lot of debate. I am not worried about the delay.”
Award winning journalist and writer who has worked as a stringer for a couple of acclaimed South Africa based German journalists, covered 3 Ugandan elections, 2008 Kenya election crisis, with interests in business and sports reporting.
