Oil & Gas

Bobi Wine, the pop star-turned-politician and opposition presidential candidate in Uganda, has pledged to review all oil contracts the country holds with international firms if elected. He stated that any agreements not favoring Ugandans will be revised, signaling a potential shift in Uganda’s oil sector ahead of the January 15 election.

Wine made the announcement in an interview with Reuters, a week before Uganda’s presidential elections, where he will challenge incumbent Yoweri Museveni, who has ruled the country for 40 years. Wine emphasizes protecting Ugandan interests in contracts with foreign oil companies, including France’s TotalEnergies and China’s CNOOC, which have production-sharing agreements with the country.

The $5-billion East African Crude Oil Pipeline (EACOP), designed to export crude oil from Uganda via Tanzania, is now nearly completed despite environmental opposition and construction delays. Pipeline construction is about three-quarters finished, moving Uganda closer to becoming an oil exporter, with production expected from the Albertine Rift Basin in the second half of 2026.

Uganda’s state-owned Uganda National Oil Company (UNOC) has also identified nine potential oil wells in the Kasuruban block, estimated to hold about 600 million barrels of recoverable crude. These developments highlight the growing significance of Uganda’s oil sector amid political and environmental scrutiny, as the nation prepares to enter the oil export market.