Uganda expects to start refining crude oil
from its fields in 2014 and the proceeds will help end the economys dependence on donor aid, its president said.
The east African nation discovered commercial oil deposits in 2006 in the Albertine basin along its border with the Democratic Republic of Congo
and reserves of about 2.5 billion barrels
have been confirmed.
"The first oil to be refined will be in the year 2014," President Yoweri Museveni told a ruling party retreat in the eastern town of Jinja, in a speech seen by Reuters
from its fields in 2014 and the proceeds will help end the economys dependence on donor aid, its president said. The east African nation discovered commercial oil deposits in 2006 in the Albertine basin along its border with the Democratic Republic of Congo
and reserves of about 2.5 billion barrels have been confirmed.
"The first oil to be refined will be in the year 2014," President Yoweri Museveni told a ruling party retreat in the eastern town of Jinja, in a speech seen by Reuters
