Skip to navigationSkip to content

Uganda's Entry as a New Petrostate Delayed by a Year

By Steve LeVine


A link from The Wall Street Journal

When the UK’s Tullow Oil discovered petroleum in Uganda, it proved up a country in which numerous other oil companies had failed. But now France’s Total, which along with China’s Cnooc has agreed to buy part of Tullow’s stake, says that first oil will not come before 2017. The main reason is that Uganda doesn’t only want to be an oil producer–it also wants added value as a refiner of finished oil products. Total is resisting financing this industrial expansion.