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Uganda National Oil Company (UNOC) posted a strong profit of UGX 359.7 billion in the 2024/25 financial year, a sharp turnaround from the UGX 3.7 billion loss recorded the previous year. The profits notwithstanding, Uganda remains without adequate strategic fuel buffer stocks. According to the Auditor General’s Annual Report 2025, UNOC’s improved profitability following the acquisition of key fuel importation licences, enabling the company to operate more competitively across the petroleum supply chain. However, the Auditor General highlights a growing contradiction: while UNOC has strengthened its commercial fuel import operations and exceeded key targets, critical gaps persist in storage infrastructure,…
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When it comes to electricity, there is a common question among Ugandans, ‘why does Uganda export power to other countries when we need it here?’ Well, we are part of the process of trying to actualise this vision of a fully integrated power market. The government of Uganda has heavily invested in electricity power generation & transmission and with the much-awaited Karuma Hydropower Plant and its interconnection power lines coming on board, an extra 600MW will be added to the national grid. The question is, where do we put all this power if the local market cannot consume it all…
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