Devon Petroleum SMC Ltd enters Uganda’s oil sector

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Despite the ongoing skyrocketing and uncertainties surrounding fuel prices and supply, operators at Devon Petroleum
SMC LTD are optimistic the Ugandan market remains lucrative and can still offer returns on investment.

These observations were highlighted by Kigongo Musa, the Managing Director of the company, as they officially announced their entry into Uganda’s dynamic and fast-growing petroleum sector, with headquarters in Nansana.

Speaking during the launch on Thursday (April 30), he noted that from 2018, when the company was established, it has steadily built a reputation for reliability, quality fuel products, and customer-focused service.

The company’s entry into Uganda marks a significant milestone in its regional growth strategy, bringing competitive energy solutions closer to communities and businesses.

“The launch today is not just about opening stations; it is about building trust, creating jobs, and contributing to Uganda’s economic growth. We are here for the long haul, and we are committed to delivering quality and consistency to customers,” Kigongo said.

Hassan Wasswa, the Operations Manager, highlighted the company’s focus on efficiency and safety, emphasising the reasons for the launch now.

“We have invested in modern infrastructure and operational systems to ensure that every Devon station delivers a seamless, safe, and reliable experience. Our priority is to maintain the highest operational standards across all our stations,” Wasswa noted.

Representatives from the government commended the investment by Devon Petroleum adding that they are critical in strengthening supply, improving service delivery, and supporting national development goals.”

Devon’s investment in Uganda reflects strong confidence in the market, with the launch of more stations marking only the beginning of a broader growth plan. For now, the company is eyeing expansion to additional locations across key regions.

The launch comes at a time when motorists across the country have raised transport fares for both short and long distances in towns and major cities amid growing concern over rising fuel prices.

Fuel costs have steadily climbed in recent weeks following disruptions linked to the ongoing conflict between the US and Iran, which has affected global oil supplies.

In major towns and cities, transport operators, especially boda boda and taxi drivers, say they are struggling with higher fuel costs and intermittent shortages, forcing them to raise fares.

Recently, the Energy Ministry with the Uganda National Oil Company (UNOC), said Uganda’s fuel supply remains “stable, sufficient, and well-managed” following routine monitoring of national reserves.

According to the statement, as of April 20, the country had 70.5m litres of petrol (equivalent to 19 days of cover), 43.2m litres of diesel (12 days), and 32m litres of jet fuel (53 days).

The government also said additional shipments were already in transit through regional supply routes, including the port of Mombasa and Tanzanian corridors.

The deliveries expected between May and June are projected to boost national reserves, including 183m litres of petrol and 258m litres of diesel.