Uganda Oil and Gas Articles
The Oil industry is devoid of adequate laws and enforcement mechanisms for the protection of the environment especially in the developing nations. Multi nationals simply adopt what they term as the best field practices to be applied. If sustainable development is to be achieved a lot of improvement ought to be done in the implementation and enforcement of environmental standards in emerging oil producing nations like Uganda.
Operational Efficiency of National Oil companies
The Resource Curse
The failure of resource rich developing nations to benefit from their new found wealth is termed as the resource curse. Various scholars have concluded that there are major three processes that lead to the resource curse, that is; the currency appreciation due to large oil revenues and the associated negative effects on the competitiveness of other industries in the nation, and the political tensions that more often result into conflict due to the inequality in sharing benefits that accrue from the oil resources.
The Question is, will Uganda survive the proverbial Oil Curse..??
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With the discovery of Oil and Gas in most developing countries one of the first steps nations take is the establishment of a national Oil company (NOC) to manage its resources, and act as the national player in Petroleum transactions. However the operational benefits of NOCs are sometimes illusory. Uganda is itself contemplating the establishment of a NOC, if Uganda’s NOC is to be efficient there will be need to minimize operational failures faced by other NOCs.
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