Tag: East African Crude Oil Pipeline

Bank of Uganda Battles Global Economic Storm to Protect the Shilling 

Business
Uganda buys far more from foreign countries than it sells abroad, creating a massive $4.6 billion trade gap. Because international sellers only accept US dollars, local traders are constantly scrambling to buy greenbacks, driving the dollar’s value up and shilling down.

NUP’S Charles Matovu Passes on after Short Illness

National News
"It is very sad to learn of the death of our brother Hon. Charles Matovu, former Member of Parliament for Busiro South, who passed on yesterday. Hon. Matovu represented his people with vigor and utmost dedication in the 11th Parliament. He was a member of the Parliamentary football team, where his tremendous contribution led us to dominate the East African Parliamentary games. My condolences go out to his family, the people of Busiro South, and the country at large. May he rest in eternal peace., Tayebwa said.
Agriculture

How Global Oil Surge Hits Ugandan Consumer

UNOC’s bulk procurement system and strategic fuel reserves provide some protection against sudden supply disruptions. The company is responsible for bulk petroleum imports and has a mandate to manage storage facilities and strategic reserves, measures intended to strengthen Uganda’s security of supply. However, strategic reserves cannot repeal the laws of the global oil market. If international crude prices remain elevated, the cost of replacing imported fuel eventually rises. Storage can provide breathing room but it cannot permanently insulate Uganda from international prices.
National News

President Museveni Sends Condolences to Tanzania’s President Over Husband’s...

The President also recalled the close cooperation between Uganda and Tanzania, citing trade, the East African Crude Oil Pipeline, the Murongo-Kyikagate mini-hydro project, roads in Tanzania, the Masaka-Bukoba transmission line and the Standard Gauge Railway, which has reached Isaka and is expected to extend towards Uganda and beyond.

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