{"id":852,"date":"2012-11-16T08:26:09","date_gmt":"2012-11-16T08:26:09","guid":{"rendered":"http:\/\/fortuneofafrica.com\/ug\/policy-and-regulatory-framework\/"},"modified":"2012-11-16T08:26:09","modified_gmt":"2012-11-16T08:26:09","slug":"policy-and-regulatory-framework","status":"publish","type":"page","link":"https:\/\/afrifacto.com\/ug\/policy-and-regulatory-framework\/","title":{"rendered":"Policy and Regulatory Framework of Oil Subsector"},"content":{"rendered":"

A National Oil and Gas Policy for the country was approved by cabinet in 2008. Objectives of the Oil and Gas policy are as follows:<\/p>\n

    \n
  1. To ensure efficiency in licensing areas with potential for oil and gas production in the country.<\/li>\n
  2. To establish and efficiently manage the country\u2019s oil and gas resource potential.<\/li>\n
  3. To efficiently produce the country\u2019s oil and gas resources.<\/li>\n
  4. To promote valuable utilization of the country\u2019s oil and gas resources.<\/li>\n
  5. To promote the development of suitable transport and storage solutions which give good value to the country\u2019s oil and gas resources.<\/li>\n
  6. To ensure collection of the right revenues and use them to create lasting value for the entire nation.<\/li>\n
  7. To ensure optimum national participation in oil and gas activities.<\/li>\n
  8. To support the development and maintenance of national skills and expertise.<\/li>\n
  9. To ensure that oil and gas activities are undertaken in a manner that conserves the environment and biodiversity;\u00a0 and<\/li>\n
  10. To ensure mutually beneficial relationships between all stakeholders in the development of a desirable oil and gas sector for the country.<\/li>\n<\/ol>\n

    In an effort to operationalize the Policy, a new legislation for the oil and gas administration is underway.\u00a0 In the meantime, the Petroleum, Exploration and Production Act of 1985 and the Petroleum, Production and Exploration regulations of 1993 are being used to regulate the sector.<\/p>\n

    Under the National Oil and Gas Policy, the Ministry handles the policy aspects, while regulatory and commercial aspects will be handled by Petroleum Authority of Uganda (PAU) and Uganda National Oil Company (NATOIL).<\/p>\n","protected":false},"excerpt":{"rendered":"

    A National Oil and Gas Policy for the country was approved by cabinet in 2008. Objectives of the Oil and Gas policy are as follows: To ensure efficiency in licensing areas with potential for oil and gas production in the country. To establish and efficiently manage the country\u2019s oil and gas resource potential. To efficiently […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":18,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_uag_custom_page_level_css":"","footnotes":""},"class_list":["post-852","page","type-page","status-publish","hentry"],"blocksy_meta":[],"acf":[],"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false},"uagb_author_info":{"display_name":"admin","author_link":"https:\/\/afrifacto.com\/ug\/author\/admin\/"},"uagb_comment_info":0,"uagb_excerpt":"A National Oil and Gas Policy for the country was approved by cabinet in 2008. Objectives of the Oil and Gas policy are as follows: To ensure efficiency in licensing areas with potential for oil and gas production in the country. To establish and efficiently manage the country\u2019s oil and gas resource potential. To efficiently…","_links":{"self":[{"href":"https:\/\/afrifacto.com\/ug\/wp-json\/wp\/v2\/pages\/852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/afrifacto.com\/ug\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/afrifacto.com\/ug\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/afrifacto.com\/ug\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/afrifacto.com\/ug\/wp-json\/wp\/v2\/comments?post=852"}],"version-history":[{"count":0,"href":"https:\/\/afrifacto.com\/ug\/wp-json\/wp\/v2\/pages\/852\/revisions"}],"wp:attachment":[{"href":"https:\/\/afrifacto.com\/ug\/wp-json\/wp\/v2\/media?parent=852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}