Court gives MOGAS a temporary relief; suspends Stanbic’s takeover of the oil company’s business
MOGAS says it is negotiating with four entities in order to raise the required money. Courtesy photo
MOGAS is now free to do business for the next six months and conclude talks with a one Ola Energy Ltd which was willing to take over MOGAS and pay off a debt that the oil marketer owes Stanbic Bank Uganda.
In a recent development, Maestrol Oil and Gas Solutions Limited famously known as MOGAS Uganda Limited, had been placed under receivership by Stanbic Bank Uganda. This follows MOGAS’ failur
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