Eighty licensed oil marketing organizations have signed sales and buy agreements with Uganda National Oil Company (UNOC).
UNOC reports that this is a significant step forward in the process of bringing bulk petroleum products into the nation; the first delivery is scheduled for July of this year.
On June 4, 2024, UNOC posted on X (previously Twitter) that “we have started the process of signing sales and purchase agreements with 80 licensed oil marketing companies.”
At the Kampala Serena Hotel, five businesses, including Vivo Energy, Moil, Rock Global Oils, Petro City, and Nile Energy, signed agreements with UNOC. Additional businesses are anticipated to follow suit.
This comes after the tripartite agreement pertaining to the import and transit of refined petroleum products from Kenya to Uganda was recently signed.
On May 16, 2024, President Yoweri Museveni and his Kenyan counterpart William Ruto watched the tripartite agreement being signed in the State House in Nairobi, Kenya.
UNOC will be allowed to import refined products directly from producers in several jurisdictions thanks to this arrangement. It is anticipated that this discovery will alleviate the difficulties Uganda’s petroleum industry has, resulting in increased dependability and efficiency.
