Tanzania, Uganda To Resume Crude Oil Pipeline Talks
By Keefa Nuwahereza
The future
of Uganda’s oil sector is brightening up after President John Pombe Magufuli’s government
agreed to resume talks of constructing
the crude oil pipeline from the Albertine Graben an oil refinery in
Tanzania.
This website
has learnt that Negotiations for a Host Government Agreement (HGA) for the East
African Crude Oil Pipe-line (EACOP) project will start soon.
This follows
completion of Total Oil's acquisition of 33.334 percent of Tullow Oil's stake,
thus paving way for the French oil giant to own a 66.7 percent of upstream
stake in the project.
Also, this
has given it legal ownership and the right to fast-track execution of the Crude
Oil Pipeline project. The HGA is an agreement between a foreign investor and
the local government which...