US, Iran Sign Landmark Truce Deal, Paving Way for Sanctions Relief and $300 Billion Reconstruction Plan
The United States and Iran have signed a landmark Memorandum of Understanding (MoU) aimed at ending months of hostilities and laying the foundation for a comprehensive peace agreement, in what analysts are describing as the most significant diplomatic breakthrough between the two nations in decades. The agreement, which entered into
Chamber of Mines Rally Stakeholders to Unlock Uganda’s Mining Wealth
Uganda’s mining sector may be sitting on immense untapped wealth, but stakeholders say turning that potential into real economic gains will require urgent reforms, stronger institutions, and decisive action. This was the central message at a high-level policy roundtable convened by the Uganda Chamber of Energy and Minerals (UCEM) at
Global oil supply squeeze deepens as markets fluctuate amid Strait of Hormuz disruption, IMF warns of mounting risks
Global energy markets are under renewed strain after the International Monetary Fund (IMF), alongside the International Energy Agency (IEA), World Bank Group and World Trade Organization (WTO), warned that oil inventories are being depleted at a record pace following major supply disruptions linked to the Strait of Hormuz. In a
Global tensions squeeze Ugandan economy as fuel, fertilizer prices rise
As the United States and Iran pursue diplomatic efforts to ease tensions in the Middle East, economists are warning that the conflict is already creating economic strain across the world, including in Uganda, through rising fuel prices and disruptions in global supply chains. Speaking during a recent webinar organised by
Uganda shields fuel supply from global shocks, expands storage capacity
Uganda has maintained stable fuel supplies despite ongoing turbulence in global oil markets, with government moving to strengthen strategic reserves and diversify import sources. Speaking at the Uganda Media Centre on Friday, Permanent Secretary in the Ministry of Energy and Mineral Development, Eng. Irene Pauline Bateebe, said the country continues
Museveni Backs Dangote Refinery Plan, Signals Uganda’s Stake in Regional Energy Power Shift
President Yoweri Kaguta Museveni has signaled Uganda’s readiness to invest in a proposed multi-billion-dollar regional oil refinery spearheaded by Nigerian industrialist Aliko Dangote, in what analysts see as a calculated push to position Uganda at the center of East Africa’s evolving energy landscape. “We shall support Mr. Dangote, and we
Uganda’s Oil Sector Poised for Growth as First Oil Nears
Uganda’s journey towards first oil production is gaining momentum, with key industry players rallying behind efforts to ensure the country maximises value from its petroleum resources. This was the central message at the 11th Oil and Gas Convention 2026, currently underway at Speke Resort Convention Centre in Munyonyo, where government
Govt Dismisses Fuel Shortage Fears, Cites Strong Reserves
The Government has assured Ugandans that the country’s fuel supply remains stable, dismissing fears of a potential shortage and urging the public to stay calm. The Ministry of Energy and Mineral Development and the Uganda National Oil Company (UNOC) said Uganda’s petroleum supply chain is “stable, sufficient and well-managed,” backed
Activists Urge Museveni to Honour Promises to Fishing Communities Affected by Oil Project
Civil society organisations have called on Yoweri Museveni to urgently fulfil his commitments to fishing communities affected by oil developments along Lake Albert, warning that delays risk worsening human rights violations and eroding public trust. In a joint statement, the Environmental Governance Institute Uganda and Climate Rights International said the
Government Moves to Calm Fuel Fears Amid Middle East Tensions
The Government has stepped in to reassure the public that Uganda’s fuel supply remains steady, even as escalating tensions in the Middle East continue to rattle global oil markets. In a joint statement released on March 30, the Ministry of Energy and Mineral Development and the Uganda National Oil Company
