Mp’s 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 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%.
Furthermore, 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 annoyed Mp’s and asked for the agreements or parliament to set up a special committee to peruse through them to avoid risks of making losses in the oil sector.
However, Minister Kitutu said that the agreements are confidential and can’t be fully accessed as per the interests of Uganda and the stakeholder companies.
Meanwhile, Parliament has also been shocked by the 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.