Stanbic Bank
Stanbic Bank
Stanbic Bank
Stanbic Bank
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Stanbic Bank
Stanbic Bank
Stanbic Bank
Stanbic Bank

UNOC imports first-ever fuel products in Uganda 

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Today marks a significant milestone for Uganda as the first vessel under the Uganda National Oil Company’s (UNOC) new mandate as the sole importer of fuel products arrives. This historic event emphasizes the company’s commitment to ensuring the reliable supply of high-quality fuel in order to eliminate speculative price hiking.

UNOC Chief Corporate Affairs Officer Tony Otoa said, “Through our new mandate as the sole importer of fuel products to Uganda, our role will be to ensure reliable supply and price stability. By centralizing importation, we are streamlining operations and mitigating supply chain risks. This strategic move guarantees consistent, high-quality fuel for Ugandans.”

According to the company, the shipment comprises 78 million litres of petrol and 65,000 tons of diesel and will be transported to Uganda through the Kenya Pipeline and later to Uganda using trucks.

“As the sun’s rays started piercing the sky this morning, this vessel carrying 58,000 metric tons of petrol arrived at Mombasa.  It is the maiden vessel as UNOC implements the sole importation of fuel products mandate. The fuel will get into the Kenya pipeline infrastructure and later to Uganda via trucks,” Ota revealed.

Otoa added that this will continue to ensure stability in fuel supply to the country.

Uganda National Oil Company (Unoc) recently signed a deal with Vitol Bahrain to import the fuel products aimed at lowering pump prices below the current rates offered by dealers in Kenya.

President Yoweri Museveni passed the amended Petroleum Supply Amendment Act in November 2023, giving monopoly powers to UNOC to import fuel into Uganda and sell it to petroleum marketers.

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