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Article

27 Aug 2009

Author:
Mail & Guardian [So. Africa]

Oil find sparks new hope for Uganda

The discovery of vast oil reserves in Uganda has caused excitement across the country, and more than a touch of anxiety too...If managed well, the petrodollars could transform the economy of the landlocked country...If not, sceptics point to Nigeria, where billions of dollars of oil income has brought great wealth to the few but failed to solve widespread poverty...Godber Tumushabe, executive director of the thinktank Advocates Coalition for Development and Environment...said that oil discoveries typically "encourage political longevity"...There are also environmental challenges...Within Uganda, there have been concerns that the revenue sharing agreements between the energy companies and the government have not been made public. [refers to Tullow Oil]