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  Irene Muloni (R), the Minister of Energy and Mineral Development and Roger Cressey, the CEO Armour Energy display a Memorandum of Understanding certificate after signing the oil exploration licence on Sept. 14. INDEPENDENT/JIMMY SIYA

Kampala, Uganda | RONALD MUSOKE | On Sep 14, the Ugandan government signed a production sharing agreement with the Australian Armour Energy Ltd and issued a petroleum exploration licence, the first under the competitive licensing round for oil and gas unveiled two years ago.

Image result for opec28 Sep 2017 

Uganda will seek to join OPEC once the East African nation starts pumping crude out from Lake Albert oil fields along the western border with the Democratic Republic of Congo at the end of the decade, Uganda's energy and minerals minister Irene Muloni said Wednesday. The Ugandan government took the decision to join OPEC after consultations with other existing member states, including Equatorial Guinea, Muloni told an oil and gas conference in Kampala.

"When we start producing our oil, we will join OPEC, to reap the benefits from being a member of the organization, these include stability of prices," she said. "We remain on course to deliver first oil in 2020."

The Petroleum Authority of Uganda (PAU) has invited the registration of new suppliers to the country’s oil and gas industry by publishing guidelines for the 2018 registration on the supply of goods and services.

The International Monetary Fund (IMF) recently stated that the oil reserves in Uganda may account for around four percent of the country’s economy annually in the next few years if managed well.

The Institute of Petroleum Studies Kampala graduated its pioneer diploma class in a colorful ceremony at Imperial Royale Hotel on the evening of Friday, 4th December 2015 attended by Ministry of Energy Officials, other government departments, Oil and Gas industry officials, students and staff of IPSK and Uganda Christian University Mukono.

Yoweri  Wednesday, 06 September 2017 10:50AM

The governments of Uganda and Equatorial Guinea have agreed on a joint action plan for the development of both the country’s oil and gas infrastructure

The governments have agreed upon the action plan during a four-day visit of Yoweri Museveni, the president of Uganda, to Equatorial Guinea in the last week of August 2017, according to the KFM.

Under the agreement, the priority activities will include exchange of information on government policies, regulatory structures, capacity building in the areas of operation, production and process control and environmental health and safety, reported the source.

The Institute of Petroleum Studies Kampala held its 1st annual thanksgiving dinner on the evening of 4th December 2015 at Imperial Royale Hotel.