By Sharon Tibenda

19^th Nov 2012: 

President Yoweri Museveni has called on the Thai government to consider partnering with Uganda in the exploration of oil.  The President made the call on Friday last week during a visit to Thai oil, a government refinery located at Chatuchak, in Bangkok.  

“We have found over 3.5 million barrels which is 40% of the exploration area. What we have is enough to support exploration. Please come and see what we have.  Our oil has very little sulphur in it, so it won’t cost so much to process,” Museveni said.

Other than oil, Museveni also told his Thai hosts that Uganda has steel, phosphates and petroleum which make it viable for a vertically integrated system of exploration, to process a full range of bi-products.  In arguing against exporting crude oil, Museveni said it will make government pay a lot of money in taxes and even lead to loss of jobs for the country.

In his welcome remarks, Thai Oil Chief Executive Officer, Veerasak Kositpaisal, said the key to the success of the company is sustainability. He said before the country discovered oil, they were poor. 

The success of Thai Oil, the CEO said, has been hinged on three pillars: the economic pillar (where you have to make profit), the social pillar (where you maintain good relationship with the community), and the sustainable environmental pillar (where you ensure safety and sustainability of the environment and community development programme).

The Thai oil refinery has a capacity of 275,000 barrels per day, which accounts for approximately 25% of the nation’s overall refining capacity, and is also capable of meeting the domestic demand for petroleum which stands at 35%.

During the tour, the President visited the school and health center built by Thai Oil Company and commended their high standard of service.  END: Login to www.ugandacorrespondent.com every Monday to read our top stories mid-week for our updates

Follow us: Twitter: @UGCorrespondent

Follow us: Facebook: Uganda Correspondent