Uganda’s oil ambitions delayed as deals stall [Financial Times (FT.com) (UK)]
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Source: Financial Times
Uganda’s oil ambitions delayed as deals stall | Financial Times September 15, 2019 Print this page Work on a multibillion-dollar n pipeline project has stalled in the wake of continued disagreements between the government and its three foreign partners, threatening the east n country’s hopes of becoming the world’s next oil producer. France’s Total, -listed Tullow Oil and the National Offshore Oil Corporation jointly control three oil blocks in Lake Albert, a giant stretch of water on ’s border with the Democratic Republic of Congo. n officials have long hoped that investment in Lake Albert — home to ’s fourth-largest oil reserves — would accelerate economic growth But 13 years after the first discoveries were made, Total said it was stopping technical work on the oilfield and pipeline project following the collapse of a deal Oil executives said the decision to stop work had been discussed with the government but ’s oil minister, Irene Muloni, said she had not been informed and deni
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