A United Voice For The Sub-Saharan Oil and Gas Sector

WB urges Uganda to guard against volatile oil prices

imagesThe World Bank has asked governments of Uganda, Kenya and Tanzania to develop insurance measures to guard against fluctuating oil prices as they prepare to begin production.

Prices of oil and gas usually affect the cost of goods and services at both national and international markets.
Uganda has both oil and gas deposits, Kenya has oil, while Tanzania has large deposits of gas and the three East African countries are preparing to begin producing for local and international markets.

Addressing participants at a regional conference on oil and gas in Entebbe recently, the World Bank Senior Economist Uganda country office, Dr Jean -Pascal Nganou, said oil and gas prices will always fluctuate and countries should be prepared to handle the consequences.

The conference was organised by Friedrich-Ebert-Stiftung.
He said in case of price dip by diversifying their by economies instead of aligning every development agenda to oil and gas revenue.

Also Read:7-ways-to-make-money-in-Tanzania-oil-and-natural-gas-industry

“Oil and gas prices will always fluctuate, consequently, oil and gas producers should develop by themselves and for themselves a good insurance mechanism against sudden drops in world prices,” Dr Nganou said.

He added: “Saving part of future oil revenue is the most adequate response to that type of problem. Several governments have opted for a variety of oil revenue saving mechanisms.
“Uganda, Tanzania and Kenya should review these mechanisms, analyse the results achieved, and make their own choices based on realistic assessment of their own situation, needs and risks.”

The World Bank produces periodic reports on world commodity price focus. In the latest report, the bank raises hope that there is going to be a pick-up in oil prices in the international market.

In this regard, Dr Nganou said: “Our commodity price specialists believe that the price of oil will rise again and most of the projections in Uganda are based on international crude oil price of $90 (Shs319,500) per barrel. We may be right, we may be wrong and this is one of the lessons for a good management of future oil revenue.”

Other challenges
Other than oil prices, East African countries are also faced with the problem of poor infrastructure, which affects the development of the private sector. The infrastructure includes power, roads, railways which East Africa must deal with to realise tangible development.

“Countries like Uganda, Kenya and Tanzania need to repair, and expand their economic infrastructure which at present is a major obstacle to private sector development,” the World Bank senior economist Uganda country office, Dr Jean -Pascal Nganou, said.

He said improved transport, power and water supply services are essential to stimulate urban and rural growth and improve the condition of the population.

The resident director Friedrich-Ebert-Stiftung, Ms Mareike Le Pelley, said oil and gas exploration is not an end in itself for the development process.

“The East African region has had high GDP growth rate but other social indicators like income distribution, unemployment and concept of inclusive development have not yet taken root in the region,” she said.



Add a Comment
  1. I just want to say I am just newbie to weblog and absolutely loved you’re page. Almost certainly I’m going to bookmark your blog . You really have fabulous stories. With thanks for revealing your website page.

  2. I like the helpful information you provide in your articles. I’ll bookmark your weblog and check again here regularly. I am quite sure I will learn many new stuff right here! Good luck for the next! xrumer

  3. A person essentially help to make seriously articles I might state. That is the very first time I frequented your website page and up to now? I surprised with the analysis you made to create this actual put up amazing. Magnificent job!

  4. I think other website proprietors should take this website as an model, very clean and wonderful user genial style and design, let alone the content. You are an expert in this topic!

  5. Thanks for any other informative site. Where else may just I get that kind of information written in such a perfect way? I’ve a project that I am just now running on, and I’ve been at the look out for such information.

  6. Definitely believe that which you said. Your favorite reason appeared to be on the web the easiest thing to be aware of. I say to you, I definitely get irked while people think about worries that they just do not know about. You managed to hit the nail upon the top as well as defined out the whole thing without having side effect , people can take a signal. Will likely be back to get more. Thanks

  7. The Zune concentrates on currently being a Portable Media Player. Not a internet browser. Not a activity machine. Maybe within just the long term it’s going to do even much better inside of all those areas, nevertheless for by now it’s a Terrific way toward arrange and pay attention toward your new music and motion pictures, and is with out peer in just that respect. The iPod’s pros are its world wide web browsing and programs. If people stable excess persuasive, quite possibly it is your most straightforward decision.

  8. Sorry for the massive critique, still I am truly loving the new Zune, and expect this, as well as the good quality evaluations some other humans incorporate written, will assistance you choose if it truly is the straight selection for by yourself.

  9. I¡¦m now not sure the place you’re getting your info, but great topic. I must spend some time finding out much more or understanding more. Thanks for great information I was on the lookout for this information for my mission.

  10. Helpful info. Fortunate me I discovered your web site accidentally, and I’m stunned why this coincidence didn’t took place earlier! I bookmarked it.

  11. Hi there, I discovered your website by means of Google whilst looking for a comparable matter, your website came up, it appears great. I’ve bookmarked it in my google bookmarks.

  12. Hiya, I am really glad I’ve found this info. Today bloggers publish only about gossips and internet and this is actually annoying. A good web site with exciting content, that is what I need. Thank you for keeping this web-site, I will be visiting it. Do you do newsletters? Can not find it.

  13. There is evidently a lot to know about this. I consider you made various nice points in features also.

  14. This is getting a little bit additional subjective, nevertheless I much prefer the Zune Market. The interface is vibrant, includes further more aptitude, and some awesome attributes such as ‘Mixview’ that make it possible for your self out of the blue watch equivalent albums, tunes, or other users similar in direction of what you might be listening towards. Clicking on a person of those will middle upon that merchandise, and a different fixed of “neighbors” will appear into watch, allowing on your own toward navigate about looking into through equivalent artists, tunes, or customers. Conversing of consumers, the Zune “Social” is as well best fun, allowing for on your own come across other people with shared preferences and becoming close friends with them. Oneself then can listen to a playlist made primarily based on an amalgamation of what all your friends are listening in the direction of, which is furthermore exciting. Those anxious with privacy will be relieved toward comprehend by yourself can reduce the general public from observing your unique listening patterns if oneself hence decide on.

  15. Wonderful goods from you, man. I’ve understand your stuff previous to and you are just extremely excellent. I actually like what you have acquired here, certainly like what you’re stating and the way in which you say it. You make it entertaining and you still take care of to keep it sensible. I cant wait to read far more from you. This is actually a terrific site.

  16. Hey are using WordPress for your blog platform? I’m new to the blog world but I’m trying to get started and create my own. Do you need any html coding expertise to make your own blog? Any help would be really appreciated!

  17. The Zune concentrates on being a Moveable Media Player. Not a internet browser. Not a sport machine. Probably within just the foreseeable future it’s going to do even much better inside of these areas, nevertheless for currently it is really a Wonderful path to set up and listen in the direction of your tunes and movies, and is without having peer inside that regard. The iPod’s strengths are its world wide web viewing and programs. If all those reliable excess powerful, quite possibly it is your perfect alternative.

  18. I was just seeking this info for some time. After six hours of continuous Googleing, finally I got it in your site. I wonder what’s the lack of Google strategy that do not rank this type of informative websites in top of the list. Generally the top websites are full of garbage.

  19. I have been absent for a while, but now I remember why I used to love this blog. Thanks , I will try and check back more often. How frequently you update your web site?

  20. hello there and thank you for your info – I have definitely picked up anything new from right here. I did however expertise some technical points using this website, since I experienced to reload the website many times previous to I could get it to load properly. I had been wondering if your hosting is OK? Not that I’m complaining, but slow loading instances times will very frequently affect your placement in google and can damage your quality score if ads and marketing with Adwords. Well I am adding this RSS to my e-mail and can look out for a lot more of your respective interesting content. Ensure that you update this again very soon..

  21. Wonderful blog! I found it while surfing around on Yahoo News. Do you have any tips on how to get listed in Yahoo News? I’ve been trying for a while but I never seem to get there! Appreciate it

  22. I haven¡¦t checked in here for a while because I thought it was getting boring, but the last several posts are great quality so I guess I¡¦ll add you back to my daily bloglist. You deserve it my friend 🙂

  23. Someone essentially assist to make severely posts I would state. This is the very first time I frequented your web page and thus far? I amazed with the analysis you made to create this actual publish incredible. Great job!

  24. Amongst me and my husband we have owned much more MP3 avid gamers around the a long time than I can rely, together with Sansas, iRivers, iPods (classic & touch), the Ibiza Rhapsody, and many others. But, the closing several a long time I have fixed down to a person line of gamers. Why? Mainly because I was happy towards locate how well-designed and fun to hire the underappreciated (and extensively mocked) Zunes are.

  25. I’ll gear this review towards Two designs of people: recent Zune property owners who are looking at an enhance, and americans seeking toward decide amongst a Zune and an iPod. (There are other players great importance looking at out there, like the Sony Walkman X, nonetheless I hope this features you more than enough information and facts in direction of generate an mindful option of the Zune vs avid gamers other than the iPod line as properly.)

  26. Palms down, Apple’s app keep wins by a mile. It really is a huge variety of all sorts of purposes vs a pretty not happy determination of a handful for Zune. Microsoft is made up of plans, particularly in the realm of online games, but I am not confident I’d will need towards wager on the long run if this function is sizeable in the direction of yourself. The iPod is a substantially better selection within that case.

Leave a Reply

Your email address will not be published.

Time limit is exhausted. Please reload CAPTCHA.

Tanzania Petroleum © 2016-2017.