Parliament has passed the Petroleum Supply (Amendment) Act, 2023 granting Uganda National Oil Company a monopoly on supplying petroleum products, against warnings that the move could instead worsen the problem it is intended to cure.
The Bill first tabled before Parliament on October 31, was expeditiously processed, and passed by a quorum of 186 members announced by Speaker Anita Among who presided over the sitting.
If assented to by the President as passed, the law will facilitate the Uganda National Oil Company or such other person nominated by the Minister, with the approval of Cabinet, to import all Petroleum Products destined for the Ugandan market to guarantee security of supply of Petroleum Products in the country.
UNOC is a limited Liability Company owned by the Government of Uganda (GOU), mandated to handle the State’s commercial interests in the petroleum sub-sector.
Until yesterday’s amendment, importation of petroleum products was done independently by the licensed Ugandan oil marketing companies through structures in Kenya and Tanzania.
