Uganda Targets 2025 Oil Production Start

Uganda plans to start commercially pumping its oil reserves from April 2025

• "I hope that by April 2025 we shall see the first oil," Ruth Nankabirwa Ssentamu said at a conference in Abu Dhabi.
• Uganda plans to announce two more exploration licenses next year, as only 40% of potential resource areas are so far offered for exploration.
• Uganda and Tanzania are also confident to secure funding for a planned crude export pipeline. China is being considered as a potential source of funds, Uganda’s energy minister said.
• In February TotalEnergies and its partner China National Offshore Oil Corporation reached a final investment decision to develop Uganda's oil fields in the country's west.
• Standard Bank Group will imminently make a decision on whether to help finance the $4bn oil pipeline.
• Oil exploration in Uganda has been delayed amid environmental concerns, pressure to increase renewable sources and lack of funding.
• The pipeline project has been criticized by environmental groups, because of extremely high anticipated CO2 emissions.
• A resolution by the EU Parliament to stop oil activities because of human rights violations in Uganda and Tanzania linked to investments in fossil-fuel projects has not stopped Uganda’s plans.
• "Uganda is a sovereign state and we cannot take orders from any country or individuals on how to run it and as parliament we have approved and enacted laws that will guide our oil sector and so it will be," Uganda's deputy speaker of parliament, Thomas Tayebwa, said.