WE NEED OUR SHARE! MPS DEMAND OIL AGREEMENTS

Members of Parliament are demanding access to the shareholders’ East African Crude oil pipeline agreements which the government says are confidential.

Under this agreement, it’s stipulated on how stakeholders who are to invest in oil processing have percentages in the oil of Uganda.

Today Wednesday during plenary, the state minister for energy and Mineral development Mary Goretti Kitutu said that Total has 62%, Uganda 15%, Tanzania where the oil pipe will pass also has 15% and CNOOC 8%.

The Minister informed the house that in case Tanzania loses interest in shares, the first beneficiary will be CNOOC followed by Total and Uganda last which pissed of Members of Parliament and asked for the agreements.

“Parliament to set up a special committee to peruse through them to avoid risks of making losses in oil sector” Minister clarifies.

However, Minister Kitutu said that the agreements are confidential and cannot be fully accessed as per the interests of Uganda and the stakeholder companies.

In the meantime, Parliament has also been shocked by news that the biggest shareholder partner in the sector who is Total has been denied funds by the French banks which have been originally financing their oil activities across the globe.

Members of Parliament say this has left most of them wondering where can made outstanding decisions for the development of the country or has to lean against donors all the time.