The Petroleum Supply (Amendment) Bill, 2023 ("the
Bill") that seeks to amend the Petroleum Supply Act,
2003 was tabled before Parliament for the first reading on 31
October 2023. The Bill aims to do the following:
- To secure the supply of petroleum products;
- To improve petroleum product stock holding levels within the
country; and
- To contribute to the competitiveness of consumer and retail
pump prices.
To achieve these objectives, the Bill seeks to designate the
Uganda National Oil Company Limited
("UNOC") as the main importer and
supplier of petroleum products destined for the Ugandan market. All
licensed oil marketing companies will be required to purchase their
petroleum products from UNOC or any other person nominated by the
Minister of Energy and Mineral Development to import and supply
petroleum products in Uganda.
