The Board of Uganda’s National Oil Company (UNOC) has appointed Dr. Josephine Wapakabulo as the company’s Chief Executive Officer (CEO). The Uganda National Oil Company (UNOC), also known as the National Oil Company of Uganda, is a limited liability petroleum company in Uganda and owned by the Ugandan government. The appointment of Proscovia Nabbanja as the substantive chief executive officer (CEO) at the Uganda National Oil Company (UNOC) has been welcomed by … The refinery is being developed on a private-public partnership basis (60 percent to 40 percent). Our mission is to drive sustainable growth of the oil and gas sector through strategic partnerships and championing national participation.We have developed our business strategy to achieve our vision and mission based on three strategic themes:UNOC will ensure that every business venture we engage in maximizes return for our shareholders and contributes to enhancing participation of Ugandans in the sector.I look forward to continue working with all our valued stakeholders and business partners to grow our business and fast track oil production in the areas under development as we aim at opening new ventures in exploration.UNOC – Your Partner in Uganda’s Oil & Gas Industry! All Rights Reserved. Josephine Wapakabulo Dr Josephine Kasalamwa Wapakabulo has, “with a heavy heart” resigned as the Chief Executive Officer (CEO) of Uganda National Oil Company (UNOC), Chimp Corps exclusively report. The refinery is expected to boost the security of supply of petroleum products and provide an outlet for the discovered resources.In May 2017, UNOC began managing the Jinja Petroleum Storage Terminal (JPST), which has a storage capacity of 30,000,000 litres (6,599,077 imp gal; 7,925,162 US gal). Oil and Gas Sector in Uganda: An Exclusive Interview with Proscovia Nabbanja, CEO of UNOC UNOC also aims at increasing participation of Ugandans in the oil and gas sector through employment and provision of goods and services. Our vision is to be an innovative and profitable company that operates across the petroleum value chain for the benefit of all Ugandans. Dr Wapakabulo tendered her resignation before UNOC’s Chairman Board of Directors, Emmanuel Katongole today Monday. UNOC's board of directors was inaugurated on 23 October 2015 by the president of Uganda. The headquarters of UNOC are located in Fairway Tower, at 15 Yusuf Lule Road, on The government of Uganda (GOU)'s goal as set out in the country's energy policy (2002) and National Oil and Gas policy (2008) is to ensure the sustainable utilization of discovered petroleum resources to contribute to early achievement of poverty eradication and create lasting value to society. One of the key objectives is to ensure an adequate, reliable, and affordable supply of quality petroleum products in the country. At the prevailing trading price of $74 (UShs280,000) per barrel of Brent crude oil, the 45,211 barrels could fetch about US$3.3m (about UShs 13 billion), as of June 2018.
The Company has a commercial role to play across the petroleum value-chain and plans to grow into an oil and gas entity with local and international presence.
The petroleum deposits discovered so far are estimated at 6.5 billion barrels, of which 1.4 billion barrels are considered recoverable.The state can participate with between 15 and 20 percent in production, according to existing production-sharing agreements between the state and the three oil exploration companies: Plans are underway to develop a 60,000 barrel per day refinery that will serve Uganda and its immediate neighbours. Dr. Josephine Wapakabulo for her dedicated service to UNOC which has delivered significant accomplishments thus far,” said board chairman Emmanuel Katongole. Failure to dispose of the crude oil before the Uganda oil refinery is completed, will make the refinery the default buyer. Proscovia Nabbanja shares her assessment of the oil and gas sector in Uganda and gives an overview of UNOC (Uganda National Oil Company Limited). The 2013 Petroleum (Exploration, Development and Production) Act of Uganda provides for the establishment of the national oil company.
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