BY PAUL TENTENA
KAMPALA, UGANDA-Uganda is still stuck with over 40,000 barrels of crude oil that was harvested during the exploration process in four sites of Kasemene 1, Ngara-1, Ngiri-2 in Buliisa, and at Tangi Camp in Nwoya district.
During a site visit to Kasemeni 1 located in Buliisa District, it was noted that over 15400 barrels of crude at the site were lying idle in storage tanks.
“The Uganda National Oil Company is the one responsible to sell this oil, it recently issued a notice calling for bids for the sale of the 45,211 barrels of crude oil. This oil could have been flared off but the government said no to the flaring process. The crude will be subjected to extensive heating before its sold,” said a Ministry of Energy official.
The crude, now in waxy and solid form, will be sold to the highest bidder. It is stored in specialised containers at four sites.
Uganda National Oil Company issued bid notices in March this year, where interested parties were to travel to Buliisa in mid-western Uganda to inspect the crude oil.
Uganda has since 2012, made attempts to dispose of the crude oil, although they have not been successful.
The call for bids came at a time when global prices for crude oil have picked up, with Brent crude, the global benchmark at $78.48 a barrel on the Intercontinental Exchange.