Energy sector leaders, government officials, and investors have gathered in Kampala for the 11th Annual Oil and Gas Convention, as Uganda moves closer to first oil production while remaining in the final development phase of its petroleum industry.
The Deputy Speaker of Parliament, Thomas Tayebwa, opened the convention at Speke Resort Munyonyo, describing the moment as a key milestone in Uganda’s oil journey. He said the country is entering the final stages ahead of first oil, expected in the coming months, which will mark the start of commercial production.
Tayebwa said petroleum development is central to Uganda’s long-term economic strategy, targeting expansion of the economy from 50 billion to 500 billion US dollars by 2040. He added that Parliament will continue to provide oversight to ensure transparency, local content participation, and investment mobilisation.
The Minister of Energy and Mineral Development, Ruth Nankabirwa, said Uganda’s fuel supply remains stable despite global market disruptions. She said the government, through the Ministry and the Uganda National Oil Company, has secured over 385 million litres of fuel imports between May and mid-June.
According to the government-aligned petroleum development updates, Uganda is not yet commercialising crude oil, as production facilities, pipeline infrastructure, and final investment phases are still under completion. The country remains in the development stage, with first oil marking the transition into commercial output rather than ongoing production.
Current national petroleum demand is estimated at about 2.3 to 3 million litres per day, driven mainly by transport, industrial activity, and diesel-powered electricity generation. Uganda remains fully import-dependent for refined petroleum products.
Nankabirwa warned oil marketing companies against hoarding and speculative pricing, stating that regulatory action, including possible license revocation, will be enforced.
At technical sessions, Birungi Sarah Banage, Head of Corporate Relations at Uganda National Oil Company (UNOC), said the planned 60,000 barrels-per-day refinery will reduce import dependence and stimulate downstream industries, including petrochemicals, fertilisers, and plastics.
The convention, held under the theme “Fulfilling the Promise, Forging the Future,” brought together government officials, international partners, and private investors as Uganda advances toward first oil and eventual commercial production over a projected multi-decade oil cycle.
