Iran's Supreme Leader getting killed just rattled global oil markets, but Uganda is telling its citizens the fuel pumps aren't going dry anytime soon.
Uganda's petroleum supply reassurance
Uganda's petroleum supply reassurance
- The Ugandan Ministry of Energy and Uganda National Oil Company jointly assured citizens that the petroleum supply stays stable.
- Their joint statement, dated March 2, pointed to a diversified supply chain not tied to any single region.
- UNOC and its supply partner, Vitol, are actively tracking the Middle East situation as it develops.
- Scheduled fuel cargo deliveries for March 2026 are reportedly still on course, with contingency plans already in place.
- A coordinated U.S.-Israel attack on Iran on Saturday, February 28, killed Supreme Leader Ali Hosseini Khamenei.
- Retaliatory strikes from Iran followed, and fears around Strait of Hormuz disruptions went into overdrive.
- Global fuel supply anxiety kicked in almost immediately after the strikes landed.
- Alternative supply routes have been secured to head off any potential disruption to the pipeline.
- Pump prices are expected to hold relatively steady, according to the Ministry and the regulator.
- Citizens and market participants are being urged to stay calm under the Petroleum Supply Act framework.
