Fresh Uganda Oil Find ‘Africa’s Biggest’
By The Times
- Uganda : Pressure Mounts To Make Public Oil Agreements:Uganda's oil discovery is already attracting major players like Italian oil giant Eni Spa, U.S. Exxon Mobil, France's Total and of recent the China National Offshore Oil Company. The country does not have the funds to finance the production of oil and instead signed agreements with oil giants spelling out how the revenue will be shared with investors willing to fund the production phase. The companies will build an oil refinery in Uganda and an oil pipeline to the Indian Ocean. This will enable the landlocked country to sell its estimated two billion barrels of crude oil internationally
Uganda's oil contracts leaked - a bad deal made worse: The repeated claims by the Ugandan government and the oil companies that Uganda has received a very good deal and the best in the region are not only a fiction, but were reliant on the real terms of the contracts being kept secret. While the contracts will deliver vast profits to Tullow Oil and Heritage Oil, the contracts will prevent the Ugandan people from receiving their due benefits.
Oil extraction and the potential for domestic instability in Uganda: The paper identifies and discusses in detail three sources of domestic volatility that may arise as a result of oil development.
Uganda: Oil could cause war : The attacks are by armed gangs suspected to be rebels of the FDLR, LRA, and the Allied Democratic Forces (ADF). In the ongoing campaign in DR Congo, President Joseph Kabila is being criticised for failing to restore peace in this vital area.