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Vol 56 No 5

Published 6th March 2015


Uganda

Oil interrupted

Major deposits of commercially viable oil were first discovered in Uganda’s Albertine Graben in 2006 and estimates of total reserves now stand at 6.5 billion barrels. It was initially hoped production would begin in 2009 but the process has been fraught with delays amid disputes with oil companies and concern about transparency. Although the refinery deal has been hailed as the key to unlocking development of the upstream sector, major questions about taxes and exports mean production is unlikely to begin any time soon.

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