Friday, November 5, 2010
Ugandan elections will determine oil procedures
There is now talk of Uganda launching a new oil licensing round in 2011, 2012 at the latest. The biggest factor of when this would happen is the upcoming elections in February. Everything will depend on the new officials sworn in. However, it seems highly improbable that the oil licensing will be left for long, no matter who gets elected. Uganda's economic growth is supposed to reach double digits by 2015, when this newly discovered oil will by then be in the process of being pumped.