According to the latest World Bank Commodity Markets Outlook, overall commodity prices are forecast to rise by 16 pc in 2026, driven by soaring energy and fertilizers prices and record-high prices for several key metals.

Indermit Gill, the World Bank Group’s Chief Economist and Senior Vice President for Development Economics said, “The war is hitting the global economy in cumulative waves: first through higher energy prices, then higher food prices, and finally, higher inflation, which will push up interest rates and make debt even more expensive. The poorest people, who spend the highest share of their income on food and fuels, will be hit the hardest, as will developing economies already struggling under heavy debt burdens. All of this is a reminder of a stark truth: war is development in reverse.”

Attacks on energy infrastructure and shipping disruptions in the Strait of Hormuz, which handles about 35 pc of global seaborne crude oil trade, have triggered the largest oil supply shock on record, with an initial reduction in global oil supply of about 10 million barrels per day. Even after moderating from their recent peak, Brent oil prices remained more than 50 pc higher in mid-April than they were at the start of the year. Brent oil is forecast to average $86 a barrel in 2026, up sharply from $69 a barrel in 2025. These forecasts assume that the most acute disruptions end in May and that shipping through the Strait of Hormuz gradually returns to pre-war levels by late 2026.

The World Food Programme says fertilizer prices are projected to increase by 31 pc, driven by a 60 pc jump in urea prices. Fertilizer affordability will fall to its worst level since 2022, eroding farmers’ incomes and threatening future crop yields. If the conflict proves more prolonged, these pressures on food supply and affordability could push up to 45 million more people into acute food insecurity this year.

In developing economies, inflation is now projected 5.1 percent in 2026 under the baseline assumptions—a full percentage point higher than was expected before the war and an increase from 4.7 percent last year. Growth in developing economies will also deteriorate as higher prices for essentials weigh on incomes and exports from the Middle East face sharp curbs. Developing economies are expected to grow by 3.6 percent in 2026, a downward revision of 0.4 percentage point since January.

This year, Brent oil prices could average as high as $115 in a scenario where critical oil and gas facilities suffer more damage and export volumes are slow to recover. This in turn would have ripple effects on prices for fertilizer and alternative energy sources such as biofuels. Under this scenario, inflation in developing economies could rise to 5.8 percent this year, a level exceeded only in 2022 over the past decade.

Ayhan Kose, the World Bank’s Deputy Chief Economist and Director of the Prospects Group said, “The succession of shocks over the decade has sharply reduced the fiscal space available to respond to the current historic energy supply crisis,”  “Governments must resist the temptation of broad, untargeted fiscal support measures that could distort markets and erode fiscal buffers. Instead, they should focus on rapid, temporary support targeted to the most vulnerable households.”

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“Uganda is on the brink of a major economic shift. The critical question is whether our companies and more importantly, our people are adequately prepared to seize these opportunities and participate meaningfully in the oil and gas value chain, including upstream operations,” he said.

Kalifungwa made the remarks during the CEO’s Breakfast Meeting at the ongoing 11th Oil and Gas Convention at Speke Resort Munyonyo under the theme First Oil: Fulfilling the Promise, Forging the Future.

He said the impending production phase presents both significant opportunities and complex challenges that require a highly skilled and adaptable workforce. Kalifungwa reaffirmed Stanbic Bank’s commitment to the sector, describing it as a catalyst for broad-based economic transformation and a cornerstone of national resilience.

The annual convention convenes policymakers, financiers, and industry leaders to assess progress and shape Uganda’s oil and gas journey, which is widely regarded as a defining chapter in the country’s economic future.

 Thomas Tayebwa, the Deputy Speaker of Parliament, underscored the need for accountability and institutional discipline as Uganda approaches first oil. “We must get this right from the outset. The laws, oversight, and discipline in implementation will determine whether oil becomes a blessing or a burden,” Tayebwa said. He called for transparency and robust governance frameworks.

Meanwhile, Ruth Nankabirwa, Minister of Energy and Mineral Development, reaffirmed government’s commitment to delivering First Oil while ensuring inclusive national benefits.

She said Uganda has moved from planning to execution, with key projects such as Tilenga, Kingfisher, and the East African Crude Oil Pipeline progressing steadily.

“We are not simply preparing for First Oil; we are laying the foundation for a transformed economy. Every investment must translate into jobs, skills, and opportunities for our people,” she said. She highlighted new infrastructure developments including Kabalega International Airport and the emerging industrial parks. 

Damoni Kitabire, Chairperson of the Stanbic Bank Board, linked Uganda’s oil ambitions within the broader global energy transition, describing the current moment as one of “profound contradiction.”

“As Uganda approaches First oOil, the world is simultaneously accelerating toward a low-carbon future. Yet recent geopolitical developments have exposed the fragility of global energy systems and reaffirmed the enduring centrality of oil,” he said.

Kitabire argued that global economic realities continue to underscore oil’s importance, even amid transition efforts. While acknowledging criticism surrounding fossil fuel investments, particularly projects such as the East African Crude Oil Pipeline, he emphasized the need for a pragmatic and inclusive pathway for emerging economies.

“Climate change is real and urgent. However, the transition must be practical, sequenced, and inclusive, especially for Africa. Uganda’s first oil is not a contradiction of the energy transition; it is part of it,” he said.

He reiterated Stanbic’s alignment with its parent, Standard Bank Group, in supporting a ‘just and patient’ transition, leveraging current oil resources to finance future renewable energy systems while safeguarding economic growth and energy access.

Kalifungwa emphasized that the true measure of success for Uganda’s oil and gas sector will extend beyond production volumes to its wider economic impact. “The opportunity before us is to ensure that oil revenues circulate within the domestic economy, creating enterprises, generating employment, and delivering long-term prosperity,” he said.

He said Stanbic’s involvement in major projects such as the East African Crude Oil Pipeline goes beyond financing infrastructure to enabling a broader ecosystem of value creation.

Through sector expertise and advisory services, the bank supports both public and private stakeholders in managing risks, navigating volatility, and building resilience.

He highlighted local content development as central to this vision. He cited initiatives such as the Stanbic Business Incubator in partnership with institutions including the African Development Bank and other development partners, to support hundreds of Ugandan enterprises to achieve international standards and competitively participate in the oil and gas value chain.

Eva Mpalampa, Head of Oil and Gas at Stanbic Bank, said the convention reflects a broader industry shift from planning to execution. “For over a decade, this forum has focused on projections. Today, we are firmly in the implementation phase,” she said.

She spoke of Stanbic’s deep sector expertise and local market knowledge, positioning the bank as a strategic financial partner throughout Uganda’s oil and gas journey.

She highlighted the bank’s 35-year presence in Uganda as evidence of its long-term commitment, supported by an extensive branch network, including a strong footprint within the oil-producing regions. Mpalampa said First Oil should be viewed as a foundation rather than an endpoint.

“Energy independence is not the destination; it is the starting point. Revenues generated today must be reinvested into renewable energy, infrastructure, and human capital to power the next phase of growth,” she said.

She also identified agriculture, workforce development, and women-led enterprises as priority areas to ensure inclusive benefits, stressing the importance of creating a ripple effect across the wider economy.

Mpalampa said, “Stanbic provides a comprehensive suite of financial solutions, including risk management, trade services, and market advisory enabling clients to navigate evolving market conditions and access deeper liquidity across both domestic and international markets.”

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Uganda’s fuel pump prices have edged up by an average of 5 percent, as global energy markets react nervously to escalating tensions in the Middle East. However, analysts note that the increases remain moderate and well below the highs recorded before the Uganda National Oil Company (UNOC) assumed control of bulk petroleum procurement in July 2024.

At the peak of earlier price volatility, petrol prices in Uganda surged to about UGX 5,600 per litre, while diesel reached UGX 5,300. Current price movements, though upward, are still trending below those levels—suggesting a degree of insulation from global shocks that had previously transmitted directly into the domestic market.

The latest wave of uncertainty was triggered by joint military action involving the United States and Israel against targets in Iran beginning February 28, 2026. The conflict, now stretching into its fifth week, has disrupted critical energy infrastructure across the region and heightened fears of supply constraints. Of particular concern is Iran’s tightening grip over the Strait of Hormuz—a vital corridor through which roughly 20 percent of global oil supplies pass.

Despite these pressures, Uganda appears to be holding steady. Government officials say the country has sufficient fuel reserves to maintain supply for at least two months, cushioning consumers from the full impact of the global turmoil. This resilience has been attributed largely to UNOC’s centralised procurement model, which has reduced speculative pricing behaviour by oil marketing companies.

Data from global monitoring platform GlobalPetrolPrices.com shows that, as of March 23, 2026, petrol in Uganda averaged UGX 4,950 per litre, while diesel stood at UGX 4,690. These figures compare favourably with global averages of approximately UGX 5,283 for petrol and UGX 5,411 for diesel over the same period.

Speaking March 25, Energy Minister Ruth Nankabirwa pushed back against recent price increases at the pump, arguing they are not justified by underlying supply costs. She noted that there had been no upward adjustment in the price at which oil marketers lift products from UNOC, suggesting that recent hikes may be driven more by market sentiment than actual supply constraints.

Industry insiders point instead to exchange rate pressures, with some marketers reportedly adjusting prices in anticipation of a weakening Ugandan shilling against the US dollar. Such hedging behaviour, they argue, is contributing to the current upward drift in pump prices.

“Currently, there should be no reason for marketing companies to exploit the situation to escalate pump prices,” Nankabirwa said.

Looking ahead, supply risks appear contained. In a joint statement issued on March 30, the Uganda National Oil Company (UNOC) and the Ministry of Energy said that, as of March 27, Uganda’s fuel stock levels and inland supply chain remained stable and sufficient to meet short-term national demand.

Available stocks for distribution stood at approximately 81 million litres of petrol, 80 million litres of diesel, and 18.5 million litres of Jet A-1. “These volumes translate to about 22 days of stock cover for petrol, 23 days for diesel, and 30 days for Jet A-1, effectively sustaining the country through to the end of April 2026,” the statement said.

In addition, 195 million litres of petrol, 155 million litres of diesel, and 24 million litres of Jet A-1 are expected to be delivered during April. These incoming volumes will extend stock cover by an estimated 52 days for petrol, 44 days for diesel, and 39 days for Jet A-1, further reinforcing supply stability.

Regionally, Uganda’s fuel prices remain competitive. Kenya continues to post the highest pump prices in East Africa, with petrol averaging UGX 5,116 per litre and diesel UGX 4,782. Rwanda follows with petrol at UGX 5,015 and diesel at UGX 5,000, while Burundi’s prices hover at UGX 5,048 for petrol and UGX 4,953 for diesel. Tanzania, benefiting from a different procurement model, records the lowest prices in the region, with petrol at UGX 4,173 and diesel at UGX 4,165.

Globally, the price shock has been far more pronounced in advanced economies. Diesel prices have surged to the equivalent of UGX 10,663 per litre in Singapore, UGX 15,583 in Hong Kong, and UGX 8,385 in the United Kingdom—underscoring the uneven impact of the crisis across markets.

Nankabirwa credited President Yoweri Museveni for championing reforms that enabled UNOC to partner with international suppliers such as Vitol Bahrain, helping diversify Uganda’s fuel supply chain and reduce exposure to geopolitical disruptions.

With global oil prices climbing past $100 per barrel in recent weeks, Uganda’s experience suggests that structural reforms in procurement and supply management may be playing a decisive role in shielding the domestic market from external shocks for now.

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The UK government’s withdrawal of USD 1.15 billion in export-credit support for the Mozambique LNG project has reopened a familiar but unresolved debate: whether Africa’s energy ambitions can survive shifting Western climate politics. Announced this week, the move removes one of the largest public-finance guarantees behind the TotalEnergies-led development—an abrupt reversal that complicates financing plans just as the project was regaining momentum.

For Mozambique, the LNG project is not just a hydrocarbon investment. It is central to a long-term national strategy to expand fiscal space, industrial capacity and employment. With a projected output of 13 million tonnes of LNG annually, the project has been positioned as a rare opportunity for the country to convert significant gas reserves into revenue flows that can support public services and diversify the economy. Neighbouring countries have viewed it as a regional anchor for energy security and industrialisation.

Those expectations stalled after the 2021 insurgency in Cabo Delgado forced a freeze on construction. But improvements in the security environment—followed by TotalEnergies’ decision earlier this year to lift force majeure—had revived investor confidence. The US Export–Import Bank reapproved its loan in mid-2025, signalling support for a recalibrated development plan now under review by Mozambican authorities. Against this backdrop, the UK exit is striking.

UK Export Finance cited risk concerns, but the decision aligns with a broader shift within Western institutions, where public financing for fossil-fuel projects is increasingly constrained by domestic political pressure. For African governments, such moves revive longstanding concerns: development-critical infrastructure is often influenced by political debates unfolding thousands of kilometres away, with little accountability to the countries most affected.

Energy analysts say the UK decision underscores a widening policy gap. African states stress energy access, predictable baseload power and job creation—requirements that remain difficult to meet exclusively through emerging renewable systems. Western governments, meanwhile, face expectations to limit support for hydrocarbons irrespective of local development needs. The collision of these priorities shapes a financing environment that is both unpredictable and increasingly political.

The African Energy Chamber criticised the UK move, arguing that it threatens regional energy security and weakens efforts to reduce reliance on expensive fuel imports. But beyond the rhetoric, the structural issue is more complex: Africa’s largest energy projects still depend heavily on external capital whose availability fluctuates with political cycles abroad.

Mozambique LNG illustrates the stakes. The project is expected to create thousands of direct and indirect jobs in Cabo Delgado, where local content programmes and SME development are already taking shape. Government revenue from the gas sector has risen steadily—over 20pclast year—demonstrating the fiscal significance of sustained development. Delays now risk slowing this momentum, narrowing growth prospects at a moment when Mozambique is trying to consolidate post-conflict recovery and expand productive capacity.

For Africa, the UK decision raises a larger strategic question: how to build an energy-financing architecture that reflects its own priorities rather than external agendas. Regional investment tools, sovereign partnerships and financiers less exposed to political volatility will need to play a greater role if the continent is to secure long-term energy sovereignty.

Mozambique LNG remains a project of both promise and fragility—emblematic of how global climate politics, development needs and security realities intersect on the continent. The central question now is not whether LNG fits into Africa’s energy future, but whether the continent will retain agency over the terms of its own transition.

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The investment was made through the United Airlines Ventures (UAV) Sustainable Flight Fund, a USD200 million initiative aimed at accelerating the commercial viability of low-carbon aviation technologies. Twelve’s breakthrough process—often described as an industrial version of photosynthesis—uses captured CO₂, water, and renewable electricity to create hydrocarbons that can be refined into jet fuel, plastics, and other materials.

United’s backing comes shortly after Twelve’s USD83 million Series C funding round and the company’s project financing for its first commercial SAF plant, AirPlant One, located in Moses Lake, Washington. The facility is expected to produce 50,000 gallons of SAF annually starting later this year.

Twelve recently inked one of the industry’s largest SAF contracts to date—a 14-year agreement to supply 260 million gallons of fuel to a major European airline group.

“Scaling the SAF industry is the major hurdle air travel needs to clear in order to increase the supply and reduce the price of lower carbon fuels,” said Andrew Chang, Managing Director of United Airlines Ventures. “Twelve has differentiated themselves through the capital they have raised and the SAF contracts they have secured, providing them with the flexibility to commercialize their technology and grow their operations expediently.”

According to Twelve, its E-Jet® fuel could cut lifecycle emissions by up to 90pc compared to conventional fossil-based jet fuel.

“This is a turning point for Twelve,” said Nicholas Flanders, the company’s co-founder and CEO. “United’s Sustainable Flight Fund’s investment reinforces our momentum at a pivotal moment as we move from innovation to implementation,” said Nicholas Flanders, co-founder & CEO of Twelve.

“With AirPlant One launching imminently and strong a collaboration with United, we’re not just envisioning the decarbonization of air travel—we’re actively building it. Because we have the capability to deliver our E-Jet® sustainable aviation fuel at scale, Twelve is proudly creating a realistic pathway to carbon-neutral aviation that meets both operational demands and climate goals.”

Twelve’s SAF is produced through its proprietary Opus system, which uses electrolysis and chemical transformation to synthesize hydrocarbons. Because the process uses captured carbon and renewable power, it avoids the emissions typically associated with petroleum refining.

The investment is the latest in a series of moves by United to lead the airline industry toward a lower-carbon future. The Sustainable Flight Fund has support from a wide range of corporate partners, including Boeing, GE Aerospace, JetBlue Ventures, Embraer, and Google, among others.

As the aviation industry faces growing pressure to reduce its carbon footprint, United’s bet on Twelve signals confidence in power-to-liquid fuel as a scalable and viable solution for long-haul flight decarbonization.

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UNOC officials note that global crude prices have trended downward in recent weeks — a development expected to translate into lower pump prices across Uganda in the coming months. At the same time, robust domestic stocks have helped insulate the market from sharp fluctuations.

According to company data, petrol prices dropped 6.6pc in the second half of 2024, falling from UGX 5,300 per litre in July to UGX 4,950 by December. By January 2025, national averages stood at UGX 4,857 for petrol and UGX 4,608 for diesel.

“Global prices are going down, and the Platts prices — the trading benchmark — are also falling. We expect further reductions over the next few months,” said Tony Otoa, UNOC’s Chief Corporate Affairs Officer.

International markets remain volatile. The U.S. Energy Information Administration (EIA) reported a 14pc drop in Brent crude prices in early April, attributed to new U.S. trade tariffs. However, global oil inventories are forecast to rise by mid-2025 as OPEC+ eases production cuts. Crude prices are projected to average $68 per barrel in 2025 and $61 in 2026.

The price outlook supports UNOC’s growing role as Uganda’s sole fuel importer, a mandate the company took on in late 2023. Since its first delivery in July 2024, UNOC had brought in over 1.9 billion litres of fuel by March 2025, according to Trading Specialist Aron Bukenya.

“Pump price stability in Uganda depends on two things — supply and the exchange rate. We’ve achieved consistent stock levels, which has helped stabilize the market,” said Otoa. “We’ve also secured alternative import routes through Kenya and Tanzania to ensure resilience.”

By cutting out middlemen, UNOC’s direct import strategy has delivered broader benefits: more predictable pricing for consumers and businesses, stronger liquidity for local banks handling fuel transactions, and improved currency stability.

“Everyone is happy,” says Otoa. “The banks are happy, the oil majors are happy, and the small players are also happy. Indigenous Ugandans profile in the petroleum sector has also grown significantly under this model because it ensures equity,” Otoa added.

Part of UNOC’s current strategy is to develop internal capacity for marketing domestically refined products in the future, once commercial oil production begins.

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The agreement, announced by Uganda’s minister for energy Ms Ruth Nankabirwa, gives UAE-based Alpha MBM Investments a 60pc stake in the oil refinery that will be built on part of the 29 square kilometre Kabaale Industrial Park in Hoima District. Uganda, which had initially offered a 40 percent stake its neighbours in the 60,000-barrel-per-day refinery, will take remaining 40 through its Uganda National Oil Company (UNOC).

“Today’s agreement marks a significant milestone for Uganda and paves way for the design, construction and operation of the 60,000 barrels per day refinery to be undertaken in Kabaale, Hoima,” Nankabirwa said adding that the government was happy “to have a partner with financial strength, and a solid reputation.”

Construction is expected to take three years, with Alpha MBM Investments, overseeing the design, construction and operational aspects of the project.

The project, with an engineers’ estimated price tag of USD 4billion includes an associated 211 km long multi-products pipeline that will deliver refined products from the refinery to a storage terminal at Namwabula in Mpigi District.

The agreement which comes a week after the East African Crude Oil Company (EACOP) consortium announced securing financing for 80 percent of the works; clears the way for a critical part of Uganda’s oil program, which though insisted on by the country’s ruler, President Yoweri Museveni, was unpopular with oil production licensees CNOOC and Total E&P, who were keener on crude exports, that are slated to start in three years’ time.

“Today, I witnessed the signing of a historic oil refinery implementation agreement. The oil refinery is not just about fuel but also about Uganda producing and exporting refined products instead of importing them. We must stop exporting raw materials and instead add value to everything we produce,” President Museveni said soon after the parties appended their signatures to the agreement.

Uganda plans to use part of its share of the crude from the Kingfisher and Tilenga oil concessions, to feed the refinery. Unlike earlier African oil producers such as Nigeria, Uganda opted for a production, rather than revenue sharing agreement.

UNOC, a wholly government owned company is the custodian for the State’s commercial interests in the petroleum sub-sector.

Uganda’s refinery is gamechanger for the region as it shortens the logistics cycle for oil products, translating into significant time and cash savings. With an initial capacity to process 60,000 barrels a day, production will over time be scaled up to reach 200,000 barrels a day.

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Boeing is also supporting projects to produce SAF in Ethiopia and South Africa

US aerospace and defense giant Boeing, announced its largest purchase ever of sustainable aviation fuel SAF April 16, taking 35.6 million litres (9.4 million gallons) for its operations during 2024.

The blended fuel, 30pc SAF made from waste by-products such as fats, oils, and greases and 70pc conventional jet fuel, will support the Boeing ecoDemonstrator program and Boeing U.S. commercial operational flights. However, nearly two-thirds of the purchase will be made available for purchase by commercial airlines at selected airports in the US, as one of Boeing’s initiatives to support the airline industry’s carbon transition.

The huge volume, which is 60pc larger than Boeing’s SAF purchases for 2023, will in part be supplied by Epic Fuels and Avfuel with both companies getting their suppliers from green fuels manufacturer Neste. Epic Fuels will supply 2.5 million gallons from Neste, while Avfuel will provide 1.5 million gallons with both suppliers delivering the SAF blend into Boeing’s fuel farms in the Pacific Northwest.

Additionally, Boeing will also purchase the CO₂ emissions reduction associated with 5.4 million gallons of blended SAF through an accounting process called book-and-claim. Book-and-claim is when a company purchases SAF certificates to displace conventional jet fuel. Instead of putting the fuel into a Boeing fuel farm, distributors will deliver it to nearby airports for use by airlines and other carriers.

Through Boeing’s book-and-claim purchases, EPIC Fuels will supply 3.5 million gallons of blended SAF made by Neste, while World Fuel Services, a World Kinect company, will supply 1.9 million gallons from World Energy.

“As our focus remains on safety and quality, sustainability continues to be a priority,” “Sustainable aviation fuel is essential to decarbonize aviation. About 20pc of our fuel usage is a SAF blend, and we continue to increase our use of this fuel to encourage growth in the SAF industry. We are also working to make SAF more available and affordable to our commercial airline customers through collaboration, investment, research and policy development,” said Ryan Faucett, vice president of environmental sustainability at Boeing.

Analysts said the development was crucial, because it has the potential to drive global demand, which, in turn, can significantly impact Africa. Boeing works with partners on six continents to research, develop and commercialize new sources of SAF, including projects in both South Africa and Ethiopia.

Unblended, or “neat” SAF, can reduce carbon emissions up to 85pc over the fuel’s life cycle and offers the commercial aviation industry’s greatest potential to reduce its climate impact over the next 30 years.

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The money, equivalent to nearly UGX 12 trillion at current exchange rates, will flow into Uganda over the course of the next three years. However, details of when it would start trickling into the economy were not immediately available.

A statement from the ministry of foreign affairs says the investments “will be strategically allocated across key sectors, including but not limited to agriculture and oil and gas, with the aim of fostering sustainable growth and prosperity in Uganda.”

The engagement which was described as “fruitful” focused on ways of enhancing bilateral relations and cooperation between the two countries, in line with “the shared commitment of both nations to further strengthen ties across various sectors of mutual interest.”

While France reaffirmed its commitment to making significant investments in Uganda’s socio-economic development, Uganda expressed its gratitude to France for its “generous investment commitment, which reflects the deep-rooted friendship and partnership between the two nations.”

“This significant contribution will undoubtedly contribute to Uganda’s efforts to achieve its development goals and improve the well-being of its citizens,” Gen. Odongo said.

Both parties committed to maintain constructive engagement and collaboration in pursuit of shared objectives, and further consolidating the strong and enduring partnership between Uganda and France.

Gen. Odongo extended his appreciation to Ambassador Xavier Sticker and the government of France for “their steadfast support and partnership and looked forward to the successful implementation of the envisioned projects.”

The meeting capped a busy day at the ministry during which Gen. Odongo also received copies of credentials from Mrs. Nwanneakolam Vwede-Obahor, the designated Resident Representative of the United Nations Development Programme (UNDP) to Uganda.

Odongo expressed confidence in Mrs. Nwanneakolam Vwede-Obahor’s ability to contribute positively to furthering the partnership between Uganda and the United Nations Development Programme, while the latter expressed her appreciation for the warm reception and hospitality extended to her by the Government and people of Uganda. She pledged to continue supporting Uganda’s efforts, particularly in the areas of refugee response and digital transformation, in line with the UNDP’s mandate to promote sustainable development and poverty eradication.

In related news, Junior minister for foreign affairs in charge of regional cooperation, John Mulimba met with H.E Maria Hakansson, Ambassador of Sweden to the Republic of Uganda.

During the meeting, the two parties “highlighted the importance of maintaining regular engagements to foster closer ties and enhance collaboration on various fronts including political, social and economic relations,” the ministry said in a statement.

Amb. Hakansson informed Hon. Mulimba that Sweden had signed an MoU with the Ministry of Energy and Mineral Development on cooperation in the Mineral Sector.

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To date, Uganda’s proven reserves are at 6.5 billion barrels of crude of which about 1.5 billion barrels is recoverable. Plans are to begin commercial production in 2025.

Iain Farley, Expro’s Regional Vice President for Europe and Sub-Saharan Africa said, “We are delighted to further develop our relationship with TotalEnergies through work on this key project, which reinforces Expro’s ability to partner in frontier field developments in support of energy security.

A key component in Expro securing a contract worth over $30 million for slickline services was its ability to provide an innovative environmental solution in support of the client’s carbon reduction objectives, as well as Expro’s commitment to national recruitment in line with a local development plan, working in collaboration with TotalEnergies and the Petroleum Authority of Uganda (PAU). A slickline is a thin cable introduced into a well to deliver and retrieve tools downhole.

Expro’s solution placed significant focus on the location’s sensitivity near a national park. The company is providing environmentally sympathetic lower carbon operations solutions compared to current market alternatives. Expro has also invested in a new operational facility in-country, supported by investment in people and training to help exceed local expectations.

With roots dating to 1938, the Houston-based oil services company has approximately 7,600 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in approximately 60 countries.

Work begins in the second half of 2023, with Expro initially supporting drilling activity followed by production optimization, integrity and well work-over support. Expro has designed four well intervention units to deliver a single operational solution for slickline and braided line in a cased hole environment across the life of the well. The solution is designed to reduce equipment footprint and equivalent CO² emissions, while delivering improved efficiency. The Tilenga project covers six fields, with over 400 wells planned across multiple pads. Drilling will start this year and continue for five years.

Farley said, “Expro’s solution was designed and engineered with the specific needs of this project in mind, taking into account the environmental sensitivities of the location and the need to support the project’s overall environmental and social objectives. It builds on our current operations in East Africa and on many years of successful delivery on key projects in locations such as Algeria, Saudi Arabia, Mozambique and Egypt.”

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