Uganda has appointed global energy and commodities trader Vitol to market the government's crude oil allocation ahead of planned exports expected early next year, the Uganda National Oil Company (UNOC) announced Monday. According to a statement issued by UNOC, Vitol will handle the marketing of the state's share of crude as the country prepares to begin exporting oil. The appointment marks a step in Uganda's efforts to commercialise its petroleum resources.

Uganda has formally introduced its crude oil grade, Pearl Sweet, to the international petroleum market at the Asia Pacific Petroleum Conference (APPEC) 2026 in Singapore, days after President Yoweri Museveni named the grade. According to the Uganda Standard, Energy and Mineral Development Minister Dr Monica Musenero Masanza unveiled the crude before refiners, traders and investors from Asia, the Middle East and Europe as the country seeks buyers for its oil.

MTN Mobile Money (U) Limited has appointed Phrase Lubega as the new Managing Director, as announced by the Board of Directors. His appointment is pending regulatory approval from the Bank of Uganda. Lubega, a Ugandan national, has significant experience in the industry, marking a return to a leadership role within the company.

Uganda is preparing to become a significant oil-exporting nation in Africa as it moves to ramp up crude oil production, according to Tuko. The country is targeting output of 230,000 barrels per day, a development that would position it among the continent's notable petroleum exporters. The plan reflects Uganda's broader ambitions to develop its oil sector and boost export revenues as production capacity expands.

MTN Uganda is playing a crucial role in the country's preparation for its first oil production by providing essential networks and digital services. This involvement goes beyond traditional oil drilling and infrastructure, emphasizing the importance of modern technology and reliable internet connectivity for the efficiency and safety of the oil industry, according to TechJaja.

Uganda has officially named its crude oil "Pearl Sweet," nearly 20 years after the discovery was announced. President Yoweri Museveni unveiled the name on September 2, 2026, in Kampala, marking what observers describe as a shift from political promise to commercial reality. According to The Independent Uganda, the country now faces the challenge of finding a market for its oil as it moves toward production.