{"id":37628,"date":"2022-09-25T18:11:16","date_gmt":"2022-09-25T18:11:16","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/oil-agreements-set-to-be-made-public-govt"},"modified":"2022-09-25T18:53:46","modified_gmt":"2022-09-25T18:53:46","slug":"oil-agreements-set-to-be-made-public-govt","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/oil-agreements-set-to-be-made-public-govt","title":{"rendered":"Oil agreements set to be made public \u2013 govt"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>Parties involved in extraction and production of Uganda\u2019s oil are in the latter stages of making production sharing agreements (PSAs) public, government authorities close to the matter have revealed.<\/p>\n

Mr Saul Ongaria, the Extractive Industries Transparency Initiative (EITI) national coordinator, told Sunday Monitor at the fringes of a two-day workshop convened in Entebbe this past week that this is the strongest indication yet of the sector\u2019s transparency.<\/p>\n

Mr Ongaria added that by its own volition the \u201cgovernment \u2026 decided to join EITI for the good of the country.\u201d This, he believes, will put all stakeholders on the same page once the country\u2019s black gold is drilled and revenues start to trickle into the Consolidated Fund.<\/p>\n

\u201cIf we are going to go into production, we have to make it a point to be as transparent as possible otherwise whatever money we earn will disappear in one way or another or even end up in the wrong hands,\u201d Mr Ongaria reasoned, adding, \u201cThe best way to approach, especially before oil production begins, is to ensure that we put in place requirements for transparency and what it means is that whatever we earn we shall use in the right way.\u201d<\/p>\n

Mr Faustin Mugisha, the commercial and joint venture manager at Total Uganda, offered support to the government\u2019s position.<\/p>\n

\u201cIf you are transparent and all this information is in the public, it is easier to manage and secure investment because it is clear to everybody,\u201d Mr Mugisha reasoned.<\/p>\n

The development comes hot on the heels of the European Parliament resolution on alleged violations of human rights in Uganda and Tanzania linked to investments in fossil fuels projects. The East African Crude Oil Pipeline (EACOP), which the European Parliament is opposed to, is a 1,443km pipeline that once completed will run through 10 districts in Uganda, stretching from Hoima in Uganda to the Indian Ocean at the Tanga Port, west of Tanzania.<\/p>\n

About EITI<\/b><\/p>\n

The Extractive Industries Transparency Initiative (EITI) is a global standard with a current membership of 54 countries. Uganda was formally admitted to the setup on August 12, 2020. The governments of member candidates are chiefly expected to be open and have accountable management of the extractives in that country.<\/p>\n

In this regard, Uganda is expected to be transparent on revenues and other transactions on its oil, gas and other mineral resources extracted and traded both locally and globally.<\/p>\n

The implementation of EITI demands in Uganda are overseen by a Multi-Stakeholder Group (MSG) composed of 25 members. These include seven from the extractives companies, five from the civil society organisation and 13 from the government.<\/p>\n

The MSG is chaired by the director of economic affairs at the Ministry of Finance, Planning and Economic Development.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. Parties involved in extraction and production of Uganda\u2019s oil are in the latter stages of making production sharing agreements (PSAs) public, government authorities close to the matter have revealed. Mr Saul Ongaria, the Extractive Industries Transparency Initiative (EITI) national coordinator, told Sunday Monitor at the fringes of a two-day workshop convened in […]<\/p>\n","protected":false},"author":84,"featured_media":37627,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,240,1162,234],"class_list":["post-37628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-uganda","tag-extractive-industries-transparency-initiative","tag-uganda"],"yoast_head":"\nOil agreements set to be made public \u2013 govt - Uganda<\/title>\n<meta name=\"description\" content=\"Parties involved in extraction and production of Uganda\u2019s oil are in the latter stages of making production sharing agre ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/oil-agreements-set-to-be-made-public-govt\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil agreements set to be made public \u2013 govt\" \/>\n<meta property=\"og:description\" content=\"Parties involved in extraction and production of Uganda\u2019s oil are in the latter stages of making production sharing agre ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/oil-agreements-set-to-be-made-public-govt\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-25T18:11:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-25T18:53:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/09\/postQueueImg_6-6330a3a1b4da4.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"688\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/oil-agreements-set-to-be-made-public-govt#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/oil-agreements-set-to-be-made-public-govt\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Oil agreements set to be made public \u2013 govt\",\"datePublished\":\"2022-09-25T18:11:16+00:00\",\"dateModified\":\"2022-09-25T18:53:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/oil-agreements-set-to-be-made-public-govt\"},\"wordCount\":469,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/oil-agreements-set-to-be-made-public-govt#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/09\/postQueueImg_6-6330a3a1b4da4.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"Extractive Industries Transparency Initiative\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/oil-agreements-set-to-be-made-public-govt#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/oil-agreements-set-to-be-made-public-govt\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/oil-agreements-set-to-be-made-public-govt\",\"name\":\"Oil agreements set to be made public \u2013 govt - 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