ANYONE WITH THE APPETITE OF UGANDA's OIL WHICH IS STILL UNDER GROUND AND TO COME OUT IN COUPLE OF YEARS, SHOULD AWAY THAT APPETITE. Oil price is: petrol 4059/- per litre, Diesel 3759/- per litre and paraffin trades around the price of diesel. With such an fluctuation and escalation in Oil market, you still expect something satisfying, from a Taboo moron!. Your father does not have an oil and so, is my father. To avoid getting curse words, you could even go look for your own oil elsewhere but not here in Uganda because the demi god of Ugandans, has owned majority of it. Oooh may be, you have forgotten to remember Mr Museveni quoting This is my oil and i will never allow wolves, rats and dogs to snatch it. Bunch of poor brains for real. The main story is below 👇👇👇👇 ___________________________________________________________________________________________________________________________ March 2018. OIL SECTOR. Oil sector local content may fizzle out in structural gaps March 2018. Last week, Total E&P, launched a scheme to train welders ahead of the heightened activity that will define the development stage of key oil infrastructure, writes Jeff Mbanga. It’s a scheme that all welders should be interested in. For this year alone, Total intends to drill at least 30 well pads in its Tilenga project, where the oil wells EA-1 and EA-2N are located. Also, it is expected that the final investment decision for the construction of a crude oil pipeline between Hoima and the Chongoleani peninsula in Tanzania will be signed by the third quarter of this year. At 1,445km, this will be the longest heated underground pipeline in the world. By any measure, work for the welders should be available. Or so we think. Total E&P, and its other key partner in the development of the Lake Albert oil basin Cnooc Uganda, has agreed to give Ugandans first priority during the tendering process. There is need for caution, though. Overall, getting Uganda’s oil industry through the development stage, right up to production, should rack up a bill of between $12bn and $15bn in expenditure. Aside from staff salaries and paying up consultants, among other smaller bills, a huge chunk of this money will go into construction works. For all that to happen, Uganda needs to put up laws to enforce it. Across the region - from Kenya to the Democratic Republic of Congo - countries are tweaking their policies governing mineral wealth to ensure the local public reaps substantial benefits. While Uganda’s oil industry is somewhat different, there are some lessons to pick from what’s happening with its neighbour’s mining sectors. In June 2017, Tanzania, rattled by allegations of Acacia Mining Limited under-declaring mineral concentrates it had exported, introduced a new mining policy that gave government sweeping powers. The government gave itself powers to renegotiate the mining development agreements already in existence; a free-carried interest of no less than 16 per cent in all mining projects; and an increase in the rate of revenue royalties; and, if it so wished, a shareholding of up to 50 per cent of any mining asset. In December 2017, Kenya published the draft Mining (Local Equity Participation) Regulations, 2017 Act, which required a holder of a mining license to list at least 20 per cent of their stake on the Nairobi Securities Exchange, offering an avenue for Kenyans to buy into the company. This is a smart move because the company would be exposed to the intense scrutiny of the securities market and its regulators. In January, DR Congo passed a mining code that mainly raised royalties and called for local involvement. Uganda, in trying to create opportunities for its public to milk the billion-dollar oil industry, has placed local content at the forefront, although expectations need to be managed. First of all, it is important to pay attention to the wave of local content hype, which is akin to nationalizing resource wealth, spreading throughout East Africa. Countries, which are in a race to attract the limited investment capital, face the pressure of ensuring that the local population benefits from the mineral wealth while massaging the egos of impatient investors. It’s a delicate balancing act in the sense that across East Africa, there is no uniform code of conduct for the extractives industry. And yet, it will not be the laws that will define whether Ugandans get enough contracts from the oil industry. It will all come down to two main things: price and the standard. If Ugandan products and services are priced fairly, and also have the right standards, then oil companies are required to consider them first. Still, there are some challenges that local companies will encounter. In some tenders, oil companies are bound to call for services with experience of at least five years. Uganda’s oil industry being fairly new, few companies have that experience. Also, the organizations, such as the Uganda Bureau of Standards, which are supposed to determine the standards in the oil sector are understaffed and underfunded. When it comes to price, a number of imported products, such as steel and cement from China, are cheaper than those manufactured locally. While it is easier to overlook the issue of price, the challenge comes if the difference with that of the imported product is huge. Remember, the costs that the oil companies incur have an impact on the profit that the country generates from its oil. Under the current set-up, oil companies will first recover their costs before any profit can be shared out with government. So, as the government calls on Ugandans to exploit the opportunities in the oil industry, there is a need to fix the capacity gaps that the country faces. There is need for an environment where there is access to cheaper credit; available and cheaper power is a must; and a broadening of the tax base to limit the burden on the few that pay. Otherwise, for as long as we do not fix the key structural issues that Uganda’s economy faces, it is going to be hard for local players to be able to exploit the opportunities that the oil industry offers. In the end, all the benefits will fall in the hands of foreign companies.

ANYONE WITH THE APPETITE OF UGANDA's OIL WHICH IS STILL UNDER GROUND AND TO COME OUT IN COUPLE OF YEARS, SHOULD AWAY THAT APPETITE.

Oil price is: petrol 4059/- per litre, Diesel 3759/- per litre and paraffin trades around the price of diesel.

With such an fluctuation and escalation in Oil market, you still expect something satisfying, from a Taboo moron!.

Your father does not have an oil and so, is my father. To avoid getting curse words, you could even go look for your own oil elsewhere but not here in Uganda because the demi god of Ugandans, has owned majority of it.

Oooh may be, you have forgotten to remember Mr Museveni quoting This is my oil and i will never allow wolves, rats and dogs to snatch it.

Bunch of poor brains for real. 

  The main story is below 👇👇👇👇

___________________________________________________________________________________________________________________________

March 2018.

                   OIL SECTOR.

Oil sector local content may fizzle out in structural gaps  March 2018.  Last week, Total E&P, launched a scheme to train welders ahead of the heightened activity that will define the development stage of key oil infrastructure, writes Jeff Mbanga.  It’s a scheme that all welders should be interested in. For this year alone, Total intends to drill at least 30 well pads in its Tilenga project, where the oil wells EA-1 and EA-2N are located.  Also, it is expected that the final investment decision for the construction of a crude oil pipeline between Hoima and the Chongoleani peninsula in Tanzania will be signed by the third quarter of this year. At 1,445km, this will be the longest heated underground pipeline in the world.  By any measure, work for the welders should be available. Or so we think. Total E&P, and its other key partner in the development of the Lake Albert oil basin Cnooc Uganda, has agreed to give Ugandans first priority during the tendering process. There is need for caution, though.   Overall, getting Uganda’s oil industry through the development stage, right up to production, should rack up a bill of between $12bn and $15bn in expenditure. Aside from staff salaries and paying up consultants, among other smaller bills, a huge chunk of this money will go into construction works.  For all that to happen, Uganda needs to put up laws to enforce it. Across the region - from Kenya to the Democratic Republic of Congo - countries are tweaking their policies governing mineral wealth to ensure the local public reaps substantial benefits.  While Uganda’s oil industry is somewhat different, there are some lessons to pick from what’s happening with its neighbour’s mining sectors.  In June 2017, Tanzania, rattled by allegations of Acacia Mining Limited under-declaring mineral concentrates it had exported, introduced a new mining policy that gave government sweeping powers.  The government gave itself powers to renegotiate the mining development agreements already in existence; a free-carried interest of no less than 16 per cent in all mining projects; and an increase in the rate of revenue royalties; and, if it so wished, a shareholding of up to 50 per cent of any mining asset.  In December 2017, Kenya published the draft Mining (Local Equity Participation) Regulations, 2017 Act, which required a holder of a mining license to list at least 20 per cent of their stake on the Nairobi Securities Exchange, offering an avenue for Kenyans to buy into the company.  This is a smart move because the company would be exposed to the intense scrutiny of the securities market and its regulators. In January, DR Congo passed a mining code that mainly raised royalties and called for local involvement.   Uganda, in trying to create opportunities for its public to milk the billion-dollar oil industry, has placed local content at the forefront, although expectations need to be managed.   First of all, it is important to pay attention to the wave of local content hype, which is akin to nationalizing resource wealth, spreading throughout East Africa. Countries, which are in a race to attract the limited investment capital, face the pressure of ensuring that the local population benefits from the mineral wealth while massaging the egos of impatient investors.  It’s a delicate balancing act in the sense that across East Africa, there is no uniform code of conduct for the extractives industry.     And yet, it will not be the laws that will define whether Ugandans get enough contracts from the oil industry. It will all come down to two main things: price and the standard.  If Ugandan products and services are priced fairly, and also have the right standards, then oil companies are required to consider them first. Still, there are some challenges that local companies will encounter.  In some tenders, oil companies are bound to call for services with experience of at least five years. Uganda’s oil industry being fairly new, few companies have that experience.  Also, the organizations, such as the Uganda Bureau of Standards, which are supposed to determine the standards in the oil sector are understaffed and underfunded.  When it comes to price, a number of imported products, such as steel and cement from China, are cheaper than those manufactured locally.  While it is easier to overlook the issue of price, the challenge comes if the difference with that of the imported product is huge. Remember, the costs that the oil companies incur have an impact on the profit that the country generates from its oil. Under the current set-up, oil companies will first recover their costs before any profit can be shared out with government.   So, as the government calls on Ugandans to exploit the opportunities in the oil industry, there is a need to fix the capacity gaps that the country faces. There is need for an environment where there is access to cheaper credit; available and cheaper power is a must; and a broadening of the tax base to limit the burden on the few that pay.  Otherwise, for as long as we do not fix the key structural issues that Uganda’s economy faces, it is going to be hard for local players to be able to exploit the opportunities that the oil industry offers. In the end, all the benefits will fall in the hands of foreign companies.