URSB, energy, MOF officials in trouble over 'sale' of UNOC

At a time when seven officials from the Energy Ministry are facing court music over attempts to fleece USD50mn or about shs190bn from a Serbian investor, one cannot take lightly claims of an investor purchasing Uganda National Oil Company (UNOC).

It has now emerged that investigations have commenced into what exactly happened to prompt a Chinese investor to claim buying UNOC.

The probe has been extended to Uganda Registration Services Bureau (URSB), Ministry of Energy and Mineral Development, Ministry of Foreign Affairs and as well UNOC.

This publication has learnt from investigators that there could have been collusion by scrupulous individuals in these agencies to fleece Chinese investors Zhang Jinlong and Heping under their firm Peace Oil and Gas Limited purporting to buy UNOC.

“We have already got clues. They [Chinese] were fleeced a lot of money whose figure we can’t disclose now. But just know many officials from these agencies were involved,” said a source.

A few days ago, a document went viral on social media purporting to be a board resolution by Peace Oil and Gas Limited giving powers to Zhang Jinlong and Heping to finalise acquisition of UNOC.

UNOC and URSB have dismissed and denied knowledge of the purported deal but Jinlong insists it was indeed in the pipeline and an official from the energy ministry (names withheld for now) has been cited as a key contact.

This is what has prompted investigators to swing in.

UNOC is a limited liability company solely owned by GOU with two shareholders-the Minister of Energy and Mineral Development (51%) and the Minister of Finance, Planning and Economic Development (49%). Its mandate is to manage the Government’s commercial interests in the petroleum sector and to ensure that the resource is exploited in a sustainable manner. UNOC also investigates and proposes new upstream, midstream, and downstream ventures initially locally and eventually internationally. It also participates in joint ventures in which it holds an interest on behalf of the State.

It is not clear if Peace Oil and Gas Limited is connected to China Peace Group Limited （CHINA PEACE) whose main business scope includes: oil and gas exploration and development, refinery, mining, coal and coke, machinery and equipment, oil and gas refining and sales, new energy development and utilization, electricity generation、transmission and distribution, investment and development for rural revitalization, development and utilization for agricultural science and technology, pollution treatment for water and air, soil pollution control and remediation, artificial intelligence manufacturing, investment and financing for infrastructure projects, comprehensive health industry and services, supply chain management, financial service for bulk commodity business, international trade etc.

Investigators will find out all this. Watch this space!DEAR READER, DO YOU HAVE A HOT STORY YOU WOULD LIKE US TO PUBLISH…FRAUD IN BANKS, BETTING FIRMS, CHEATERS, DIVORCE FILES, SEX NETWORKS, SEX FOR MARKS, HARASSMENT OF ALL NATURE AT OFFICE BY YOUR BOSS, CHILD NEGLECT, WETLAND OCCUPATION, ENVIRONMENTAL DEGRADATION, VIDEOS, IMPUNITY or CORRUPTION (in government agencies/ MDA’s, NGOs, Ministries, Private sector), FIGHTS IN OFFICES, JOB WARS/ WITCH HUNT, URA TAX FRAUD/NON-COMPLIANCE, CHEATING MONEY LENDERS, BUSINESS WRANGLES, SUBSTANDARD PRODUCTS, GOLD SCAMS, NSSF REMITTANCES NON COMPLIANCE, LAND ISSUES, INTERNAL AUDIT REPORTS EXPOSES, POLITICAL WRANGLES…ETAL.CALL/TEXT/WHATSAPP 0777959024 OR EMAIL: redpeppertips@gmail.com

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