Oil & Gas

In the last decade, Africa’s upstream operations have spread from a historic focus on West Africa to be truly pan-continental. This is being driven by exploration in countries such as Ghana, Mozambique, Tanzania, Kenya and Uganda where new oil and gas reserves have been discovered. Uganda’s oil exploration was sparked off by the discovery of approximately 6.5 billion barrels of commercially viable oil and the presence of 416 billion cubic feet of natural gas. The commercialisation plan comprises of a crude export pipeline from Hoima in Uganda to Tanga Port in Tanzania, a refinery and gas to power plants. The project will enjoy domestic, regional and international marketing opportunities, and the investment models will factor in both international and domestic sales prices. Accessing the right partners and capital to fund an investment of this nature will be critical for the development phase of Uganda’s Oil & Gas project. Stanbic Bank’s international reach comprises of a network of specialist Oil & Gas teams spread across the world’s key financial centres and major oil producing countries in Africa. These teams provide financial solutions to businesses in the Oil & Gas value chain from the upstream through to the midstream and downstream. This, coupled with our strategic focus and in-depth local knowledge, uniquely positions us to be your ideal financial partner in Uganda. We have strong sector and product knowledge, and we understand the unique character of business in Uganda; from banking, transaction and regulatory requirements, to the players and opportunities.

Oil and Gas Solutions

Investment Banking Solutions
We structure financial solutions that are tailored to your specific requirements; these include project and corporate financing to grow your business. We also provide commodity based solutions to support Oil & Gas production and export. Our clients also benefit from equity and debt capital markets solutions that allow them to tap into much wider sources of finance.

Global Markets Solutions

We support our clients to hedge their risks across selected asset classes, for example we provide currency, interest and commodity hedging solutions. In addition to the above, our clients also benefit from forex dealing services, market research and e-commerce platforms. Our presence in the on-shore, off-shore, buy-side, sell-side markets allow our clients access to deeper liquidity pools in all market conditions. 

Transactional Products and Services

As the leading Ugandan transactional bank, we have over 70 branches spread across the country, ten of which are located in the oil belt. We offer a comprehensive range of lending and transactional products to meet the increasingly sophisticated needs of our clients. Our products and services include, cash management, international trade services, working capital, trading and risk management and a state-of the-art online banking platform. 

Local Content

Ugandan laws and regulations stipulate that investors in the Oil & Gas sector must satisfy the required local content benchmarks in order to operate in Uganda. Stanbic Bank is uniquely positioned to support your compliance with above laws and regulations.
While local content is not legislated across all sectors, it is encouraged. We support clients find suitable local partners who can connect them to the market and help to ensure that incentives are aligned to national priorities.


We have nurtured extensive contacts with regulators, government ministries, legal and accountancy firms and the Oil & Gas licensees.
We are also founding members of the Uganda Chamber of Mines and Petroleum (UCMP) and the Association of Uganda Oil and Gas Service Providers (AUOGS).


Partner with us to help realise your Oil & Gas ambitions

Contact Us


 James Karama

 Head: Oil & Gas

 Corporate & Investment Banking

 +256 41 715 48 75

 +256 77 2481993

 [email protected]

 Michael Muhangi

 Manager: Oil & Gas

 Business Banking

 +256 31 222 4600

 +256 793 516 757

 [email protected]