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EACOP Ltd., the company in charge of the construction and future operation of the East African Crude Oil Pipeline project from Kabaale in Uganda to Tanga in Tanzania has closed…
The High Court’s Commercial Division Judge, Susan Abinyo, has issued an order to Uganda Revenue Authority (URA) to refund excess tax to Heritage Oil after a decades-long legal battle between the two entities with millions of dollars at stake in a complex commercial oil transaction. On December 23rd, 2024, Judge Abinyo ruled that over USD 150 million in exploration costs such as drilling, geological surveys, among others that Heritage Oil incurred should have been accounted for during the capital gains tax computation. This, in effect, resulted into inflated tax charges on Heritage oil. According to audit firm PwC, Capital gains are…
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The National Environment Management Authority (NEMA) has come to clarify on the information about the Environment and Social Impact Assessment reports for Oil and Gas projects in Uganda. In a September 19th statement, NEMA says, among others that Environment and Social Impact Assessments followed the time tested and conventionally agreed principles of the Environment and Social Impact mitigation hierarchy which involves avoidance of sensitive eco-systems, mitigating manageable impacts including reducing of impacts, environmental restoration as well as offsetting of residual impacts. NEMA adds that the process was done in consultation with relevant lead agencies and other stakeholders including conducting public…
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By Patrick Kagenda As Uganda prepares to refine its own oil come 2017, other preparation in ensuring the refinery is build are ongoing and nearing completion. With government nearing completion of compensating the people where the refinery will be built in Kabaale parish Buseruka Sub county in Bugahya county Hoima district, the road to deliver the much needed refinery equipment is nearing completion. Working with all the determination to meet the deadline for completion of the Hoima-Kaisotonya road, Turkey`s Kolin Construction Company the company that was contracted to build the 92 kilometres road to the oil wells in Kaisotonya says…
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By Taddewo Senyonyi The story of Uganda’s nascent oil & gas, since the black gold was discovered a few years ago, has turned into a sort of mud and flower after the rain story with some people choosing to see the mud and ranting endlessly about it, while those who have chosen to see the flowers, beginning to mint dimes from it. Regardless of the endless rants and beneath all this politicking and gesturing there is a real story of success, transformation and happiness and of course the occasional challenges, which for some naysayers, have been over blown to calamitous proportions. First, local farmers in…
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By Mark Muhumuza With most of the downstream and upstream bills to govern Uganda’s oil sector having been passed by parliament only the Revenue Management Bill 2012, is yet to be debated in parliament, Energy Permanent Secretary, Kabgambe Kaliisa is quite confident that by 2016 Uganda’s much awaited refinery should be ready. The country is looking to have 30,000 barrels per day refinery, which would later be expanded to 60,000 and 120,000 depending on the economics and demand of the time. This position has been reached, after a lot of head butting and a lot of back and forths as well as big compromises, especially by…
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By Silvia Nyambura In May 2012, Kolin, a Turkish construction company was awarded a contract to build the Hoima-Kaiso-Tonya road that leads to the oil rich Buliisa district of Uganda. One year down the line, the company’s Country Director, Bruhan Nassur tells The CEO Magazine’s Silvia Nyambura that with one foot in the door, Kolin has its eyes on the region’s opportunities in: energy, port operation, mining and tourism. Briefly tell me about Kolin Construction Company? Kolin Construction Company is a subsidiary of the Kolin Group of Companies founded in Turkey in 1977 .The group’s business portfolio includes infrastructure and transportation projects…
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