{"id":1488,"date":"2014-07-22T19:32:35","date_gmt":"2014-07-22T16:32:35","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=1488"},"modified":"2015-09-04T09:48:37","modified_gmt":"2015-09-04T09:48:37","slug":"how-can-ugandans-benefit-from-an-oil-windfall-policy-options-to-manage-petroleum-revenues","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/how-can-ugandans-benefit-from-an-oil-windfall-policy-options-to-manage-petroleum-revenues\/","title":{"rendered":"How Can Ugandans Benefit from an Oil Windfall? Policy Options to Manage Petroleum Revenues"},"content":{"rendered":"

[twitter-follow screen_name=’oilnewskenya’]<\/p>\n

Courtesy of\u00a0resourcegovernance.org<\/p>\n

Uganda\u00a0is on the path to becoming a significant oil producer in the next decade, with production potentially reaching over 200,000 barrels per day. Under the right economic and fiscal conditions, such a level of production would generate substantial public revenue that could catalyze economic growth through public investments in infrastructure, education and other social services.<\/p>\n

However, due to volatile oil prices and the cyclical nature of the oil market, the true amount collected in any given year is subject to wide variation and is generally unpredictable. Furthermore, as international experience has shown, mechanisms to shield public expenditure from unexpected drops in oil revenue and protect these revenues from mismanagement are necessary if Uganda is to fully benefit from oil production.<\/p>\n

As Ugandan parliamentarians consider passing a public finance bill that contains key provisions for the management of revenues from hydrocarbons via a\u00a0natural resource fund, RWI-NRC economic analysts Thomas Lassourd and Andrew Bauer stress-tested a number of possible scenarios of saving\/spending fiscal rules on an economic model of the Ugandan economy to see which rule would best meet the government\u2019s objectives, as specified in the\u00a02012 Oil and Gas Revenue Management Policy.<\/p>\n

The following report presents the detailed economic analysis, key recommendations regarding the choice of a fiscal rule to include in the public finance bill, and suggested oversight and accountability mechanisms for a strong fiscal framework for petroleum revenue management.<\/p>\n

Read the full report here<\/a><\/p>\n

[twitter-follow screen_name=’oilnewskenya’]<\/p>\n","protected":false},"excerpt":{"rendered":"

[twitter-follow screen_name=’oilnewskenya’] Courtesy of\u00a0resourcegovernance.org Uganda\u00a0is on the path to becoming a significant oil producer in the next decade, with production potentially reaching over 200,000 barrels per day. Under the right … Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":1026,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7,11],"tags":[1702,1849,1883,1884,1889,2017,2098,2149,2150,2603],"class_list":["post-1488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oil-politics","category-top-news","tag-natural-resource-fund","tag-oil-and-gas-revenue-management-policy","tag-oil-prices","tag-oil-production","tag-oil-revenue","tag-petroleum-revenues","tag-public-expenditure","tag-revenue-watch","tag-revenue-watch-institute","tag-uganda","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/uganda.jpg?fit=275%2C183&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-o0","jetpack-related-posts":[{"id":255,"url":"https:\/\/www.oilnewskenya.com\/index.php\/only-shrewd-investment-of-ugandas-oil-revenue-will-ensure-intergenerational-equity\/","url_meta":{"origin":1488,"position":0},"title":"Only shrewd investment of Uganda\u2019s oil revenue will ensure intergenerational equity","author":"Samuel Kamau Mbote","date":"December 15, 2013","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] Story by The Independent Investing wisely Uganda\u2019s oil revenues in productive sectors of the economy will ensure future generations benefit from the country\u2019s promising petroleum industry, a new paper released on Dec.10 by the Economic Policy Research Centre (EPRC) and the Africa Growth Initiative at the Brookings Institution\u2026","rel":"","context":"In "News by others"","block_context":{"text":"News by others","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/news-by-others\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2013\/12\/uganda_-_downtown_kampala-scaled.jpg?fit=1200%2C900&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2013\/12\/uganda_-_downtown_kampala-scaled.jpg?fit=1200%2C900&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2013\/12\/uganda_-_downtown_kampala-scaled.jpg?fit=1200%2C900&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2013\/12\/uganda_-_downtown_kampala-scaled.jpg?fit=1200%2C900&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2013\/12\/uganda_-_downtown_kampala-scaled.jpg?fit=1200%2C900&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":3886,"url":"https:\/\/www.oilnewskenya.com\/index.php\/ugandas-oil-revenue-management-framework-is-a-solid-start-but-not-nearly-enough\/","url_meta":{"origin":1488,"position":1},"title":"Uganda’s Oil Revenue Management Framework is a Solid Start, but Not Nearly Enough","author":"","date":"October 7, 2015","format":false,"excerpt":"Source: resourcegovernance.org Earlier this year, Ugandan President Yoweri Museveni signed the\u00a0Public Finance Management Act (PRMA) 2015\u00a0into law and created one of the world's newest sovereign wealth funds. While the law provides a solid framework for effective governance, several key elements are missing\u2014elements that would determine whether\u00a0Uganda will truly benefit\u00a0from its\u2026","rel":"","context":"In "News by others"","block_context":{"text":"News by others","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/news-by-others\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/01\/uganda_3.jpg?fit=280%2C260&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11394,"url":"https:\/\/www.oilnewskenya.com\/index.php\/uganda-parliament-passes-the-public-finance-management-amendment-bill-2021\/","url_meta":{"origin":1488,"position":2},"title":"UGANDA: Parliament Passes the Public Finance Management (Amendment) Bill, 2021","author":"","date":"December 15, 2021","format":false,"excerpt":"The Uganda National Oil Company (UNOC) will now retain a portion of the proceeds from the sale of petroleum products following the passing of the Public Finance Management (Amendment) Bill, 2021. During the Tuesday, 14 December 2021 plenary sitting, chaired by Deputy Speaker Anita Among, legislators amended the Public Finance\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Uganda-Parliament.jpg?fit=1080%2C720&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Uganda-Parliament.jpg?fit=1080%2C720&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Uganda-Parliament.jpg?fit=1080%2C720&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Uganda-Parliament.jpg?fit=1080%2C720&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/12\/Uganda-Parliament.jpg?fit=1080%2C720&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":7632,"url":"https:\/\/www.oilnewskenya.com\/index.php\/uganda-withdrew-54-million-from-petroleum-fund\/","url_meta":{"origin":1488,"position":3},"title":"Uganda Withdrew $54 Million from Petroleum Fund","author":"","date":"April 2, 2019","format":false,"excerpt":"The Government of Uganda withdrew $54 million or 200 Billion shillings from the Petroleum Fund ahead of production according to the Semi Annual Report for the Petroleum Fund for the Financial year 2018\/2019 for the period ended 31st December 2018 presented before parliament on 21st March 2019 by Minister of\u2026","rel":"","context":"In \"Uganda Revenue Authority\"","block_context":{"text":"Uganda Revenue Authority","link":"https:\/\/www.oilnewskenya.com\/index.php\/tag\/uganda-revenue-authority\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2019\/04\/BOU.jpg?fit=368%2C368&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":629,"url":"https:\/\/www.oilnewskenya.com\/index.php\/east-africa-lacks-extractive-industry-taxation-capacity\/","url_meta":{"origin":1488,"position":4},"title":"East Africa lacks extractive industry taxation capacity","author":"Samuel Kamau Mbote","date":"March 2, 2014","format":false,"excerpt":"Article courtesy of OxfamAmerica Dr. Prosper Ngowi Dr. Prosper Ngowi, an economics professor from Tanzania, said that Tanzania has lost a lot of revenue from the gold sector because of its inability to monitor and collect taxes. \u201cAre we going to miss it this time around with gas? If so,\u2026","rel":"","context":"In "New Discoveries"","block_context":{"text":"New Discoveries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/new-discoveries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/03\/oil-money.jpg?fit=300%2C400&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":12683,"url":"https:\/\/www.oilnewskenya.com\/index.php\/opinion-ugandas-oil-and-gas-projects-the-value-at-stake\/","url_meta":{"origin":1488,"position":5},"title":"OPINION: Uganda\u2019s Oil and Gas Projects: The Value at Stake","author":"","date":"September 21, 2022","format":false,"excerpt":"By Peninah Aheebwa: an Energy Economist and the Director Technical Support Services at the Petroleum Authority of Uganda The East Africa Crude Oil Pipeline project (EACOP), which is meeting resistance from opponents of Uganda\u2019s development, is one of the projects Uganda has planned to monetize its oil and gas assets,\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/03\/Uganda-rig.jpg?fit=699%2C466&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/03\/Uganda-rig.jpg?fit=699%2C466&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/03\/Uganda-rig.jpg?fit=699%2C466&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=1488"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1488\/revisions"}],"predecessor-version":[{"id":3421,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/1488\/revisions\/3421"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/1026"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=1488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=1488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=1488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}