Analysis of the legal frame work for oil revenue management in Uganda
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Date
2019-04
Authors
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Publisher
Kampala International University, School of Law
Abstract
Uganda’s oil came to be known to the rest of the world as far back as 1910, though the oil seeps were first seen by the indigenous community at Kibiro village, Hoima District. The oil exploration started in 1936 and became stalled due to the outbreak of the secondly World War and the political turmoil in Uganda. It was later resumed after 8th October 2006, when the President announced the discovery of commercial quantities of oil Albertine R~fl of Western Uganda. The first crude oil is expected by ear~y 2020 as oil reserves are estimated to be in excess of 6.5 bn barrels with 1. 5bn to 2. 5bn barrels being recoverable oil. There is fear that due to
corruption and that if not well managed through an accountable, transparent and people-centered system, the petroleum could instead become Uganda ‘s curse rather than a blessing. Legal framework has been put in place such as the National Oil and Gas Policy, National Oil and Gas revenue management Policy and Public Finance Management Act 2015 respectively to guide the production, development and management of petroleum and the resultant revenues. Despite the existence of the laws, the Executive in 2015 found it easy to use part of oil revenues and gave it out as handshake to some government officials. This study was conducted to analyse the current law on the management of petroleum revenue in Uganda and its adequacy. It also looked at international best practices in oil revenue management, made comparative studies of oil producing countries and how Uganda can adopt the same to effectively manage her petroleum revenues. The study made findings that the laws in place are too weak to control excessive executive and recommends to ring fence the revenues and the country joins the Extractive Industry Transparent Initiative.
Description
A research dissertation presented to the college of higher degrees and research Kampala International University Kampala, Uganda in partial fulfillment for the requirements for the award of a degree of Master of Laws
Keywords
Legal frame work, Oil revenue, Management, tUganda