Saturday, May 31, 2025
NEWSDAY
  • News
  • Politics
  • Lifestyle
  • World
  • In pictures
  • Luganda
  • In History
  • Sports
  • Perspective
  • Business
No Result
View All Result
  • News
  • Politics
  • Lifestyle
  • World
  • In pictures
  • Luganda
  • In History
  • Sports
  • Perspective
  • Business
No Result
View All Result
NEWSDAY
No Result
View All Result
Home Business

Uganda, Tanzania oil deal to be signed early April

by www.newsday.co.ug
April 9, 2021
in Business
121 1
Uganda, Tanzania oil deal to be signed early April

A map showing the Uganda Tanga oil Pipeine

3k
VIEWS
  • The Uganda Tanga oil Pipeine

Hoima. The oil and gas development agreements between Uganda-Tanzania and TOTAL SA have set April as the month to sign an understanding following the death of John Pombe Magufuli, former president of Tanzania.

“The launch of the Tilenga Development Project and the East African Oil Pipeline Project which was planned to take place on March 22 has been deferred to April, due to the untimely demise of Dr John Pombe Magufuli”, reads a brief statement from the Petroleum Authority of Uganda.

The late Magufuli was due to visit Uganda with his line ministers to sign off the deals on the pipeline company shareholding plan and the crude oil transportation tariff, which were the last remaining issues.

The key milestones in the sector achieved with him included the signing of the Intergovernmental Agreement in 2017 and the initiating of the Tanzania Host Government Agreement. Magufuli has been pushing for the fast-tracking of the pipeline project so that Uganda starts exporting oil by the end of 2023.

In 2016, he made a surprise move to sway Uganda away from a deal that was nearing the conclusion to construct the pipeline through Kenya.

Before the summit, the Ministry of Finance, Planning and Economic Development is supposed to get at least USD130 million ( Shs.48bn) as its commitment to the pipeline project. The pipeline expected to be constructed in 36 months and will run from Hoima in Western Uganda to the Indian Ocean port of Tanga in Tanzania.

The 1,440 km pipeline project is expected to cost USD 3.5 billion and its completion is supposed to coincide with Uganda’s readiness to produce oil. Uganda will hold 15 per cent in the pipeline company, while Tanzania holds 5 per cent. Total SA and Chinese oil company CNOOC will own 72 per cent and 8 per cent respectively.

The signing of the agreement will pave the way for the Final Investment Decision.

URN

Related articles

Shame As Katwe Police Officer Is Nabbed Destroying Evidence To Implicate An Innocent Man To Grab His Land

May 30, 2025
Court Finally Served Justice In Nakifuma Land Dispute

Court Finally Served Justice In Nakifuma Land Dispute

May 30, 2025
Post Views: 122

Do you want to share a story, comment or opinion regarding this story or others, Email us at newsdayuganda@gmail.com Tel/WhatsApp........0726054858
Do you want to share a story, comment or opinion regarding this story or others, Email us on info@newsday.co.ug or ,Tel/WhatsApp........0702451828
Share158Tweet99SendShare
Next Post
Busoga NUP coordinators petition UHRC

Busoga NUP coordinators petition UHRC

Discussion about this post

  • Profile: Who is Hajjat Uzeiye Hadijah Namyalo

    Profile: Who is Hajjat Uzeiye Hadijah Namyalo

    1052 shares
    Share 421 Tweet 263
  • What caused a mysterious death of Former Elite High School Student

    468 shares
    Share 187 Tweet 117
  • Sex video appearing to show a look alike of BBS’s Diana Nabatanzi in bed with man concerns her fans

    1680 shares
    Share 672 Tweet 420
  • Video shows Lwasa naked and why Diana Nabatanzi chucked him

    733 shares
    Share 293 Tweet 183
  • Security investigating Dubai company over Congolese stolen Gold

    503 shares
    Share 201 Tweet 126
NEWSDAY

Your source of the most critical on spot breaking news from www.newsday.co.ug. Newsday Uganda is recognized by audiences around the world as a trusted supplier of news.

info@newsday.co.ug
+256702451828

Categories

  • Business
  • Entertainment
  • In History
  • In Luganda
  • in pictures
  • Lifestyle
  • News
  • Perspective
  • Politics
  • Sport
  • World

Recent Posts

  • Shame As Katwe Police Officer Is Nabbed Destroying Evidence To Implicate An Innocent Man To Grab His Land
  • Court Finally Served Justice In Nakifuma Land Dispute

© 2021 NEWSDAY.

No Result
View All Result
  • News
  • Politics
  • Lifestyle
  • World
  • In pictures
  • Luganda
  • In History
  • Sports
  • Perspective
  • Business

© 2021 NEWSDAY.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In