Hoima, Uganda | THE INDEPENDENT | Independent presidential candidate, Joseph Kabuleta has promised to renegotiate the oil contracts government has made with international oil companies.
Kabuleta believes that there was no transparency in the negotiations of the contracts, which are meant to benefit a few individuals in power. He was speaking from Hoima Oil city where he spent Christmas day and campaigned in a number of places of worship.
Kabuleta says the locals from the oil rich areas do not stand to benefit from the production of oil since they have been left out of the available jobs.
Kabuleta’s promise is not just limited to the oil and gas sector but all the natural resources that are being exploited commercially, he says. He cites Bugoma central forest Reserve part of which was handed to Hoima sugar for sugarcane growing.
The business community eagerly awaits the final investment decision (FID), which will be a key milestone for Uganda’s oil and gas industry. The major players in Uganda’s oil industry are Total E&P France and the China National Offshore Oil Corporation.
While legal frameworks on transparency and disclosure provisions exist, they have not been effective in ensuring that citizens gain access to information on the details of the contracts.
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