Current Affairs

VIDEO: UNOC urges private sector to invest in oil reserves

By Joseph Lubandi

Posted on November 7, 2017

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VIDEO: UNOC urges private sector to invest in oil reserves

Kampala, Uganda | NTV UGANDA | Once Uganda builds its fuel reserve capacity to atleast 100 Million litres within the next 2 years, it could contribute towards the stability of the supply within the country.

Daily consumption is at 5.5 million litres, with existing storage capacity at the newly refurbished national reserves standing at just 5 days of existing stock.

The Uganda National Oil Company, that is overseeing the development of at least 3 more new strategic storage facilities in Buloba, Nakasongola and Hoima is urging for private sector interest.

John Friday, the Commissioner for Petroleum Supplies, was speaking at the launch of the just refurbished 30 million litre national fuel reserves in Jinja, whose stock up is just half of its capacity.

[youtube https://www.youtube.com/watch?v=8i-LzEhJfUE]

The post VIDEO: UNOC urges private sector to invest in oil reserves appeared first on The Independent Uganda:.

Source: Independent