Uganda Ministry of Energy expert says Oil sector is attractive despite Oil price threats

A map showing the Oil exploration licensed Areas of the Albertine Graben

A map showing the Oil exploration licensed Areas of the Albertine Graben

In an article published by the New vision on May 7, 2015, investment experts cautioned Uganda to take careful strides as the nations looks to spending in the budding oil and gas sector.

Experts observed that since the nation was entering a highly speculative and competitive market, it was prudent to observe major international oil industry costs in order to benefit form the investments especially at a time when prices have slide down due to over supply and are not expected to rise soon.

“In Saudi Arabia, the cost of production is quite low, so you in competing with Saudi, you need to make sure your costs are low,” The New vision Quote Ade Adeola, the Standard Chartered Bank managing director for energy and chemicals

However, a senior petroleum Economist at the Petroleum Directorate, Ministry of Energy and Mineral Development Peninah Aheebwa has said in an article to daily Monitor newspaper that the sector is well prepared  to achieve the lowest break-even price possible.

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See graphic representation of Uganda oil sector major financing needs

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