• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 22 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 8 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 2 hours Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 12 mins "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 1 day Did China cherry-pick the factors that affected the economic slow-down?
  • 2 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 10 hours Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 5 hours Are you aware of Oil Price short videos on our energy topics?
  • 13 hours NordStream2
  • 4 days U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 410 days Class Act: Bet You've Never Seen A President Do This.
  • 4 days Nord Stream - US/German consultations
  • 4 days Forecasts for Natural Gas
  • 4 days Australia sues Neoen for lack of power from its Tesla battery

Uganda’s Oil Potential Arouses International Interest

The French Ambassador to Uganda has said that the exploration for oil in the country is a key opportunity for Uganda’s government to press ahead with its development agendas.

Speaking during celebrations to mark the French National Day in Kampala, Ambassador Aline Kuster-Menager said, "Exploitation of the country’s oil resources offers a unique and key opportunity for Uganda to boost its development with new and substantial financial resources," The Monitor reported.

Recent discoveries of vast oil reserves, particularly the oil rich Albertine Graben, with estimated reserves of at least 2.5 billion barrels of oil, mean Uganda is set to become a key oil producer on a part with other African oil producing nations, such as neighboring Sudan, Angola, Nigeria and Equatorial Guinea. Some estimate place the Albertine Graben reserve as high as six billion barrels of recoverable oil.

On the basis of such reserves, government analysts estimate that Uganda will be able to support production of over 100,000 barrels of oil per day for the next two decades.

To exploit these resources, the government has signed several leasing contracts with international companies. The French energy giant Total has been granted a large chunk of the rights of exploitation in the Albertine Graben.

The Tullow Oil exploration has already confirmed Albertine Graben reserves of 2.5 billion barrels of oil. As hydrocarbons have been encountered in 51 out of the 55 wells drilled by Tullow Oil, the developments have put Uganda's discovery rate at 92.3 percent.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News