Uganda, Kenya Pipeline Deal to Unlock Crude Exports
The deal between Uganda and Kenya on a pipeline linking their oil fields will pave way for the start of crude exports through the East African coast, says Elly Karuhanga, head of Uganda's chamber of mines and petroleum. The deal on the route for $5 billion project through northern Kenya comes after months of talks and will enable oil companies to make long-delayed investment decision to develop nearly seven billion barrels of crude in the two countries, Mr. Karuhanga says. "The agreement removes any lingering doubts," Mr. Karuhanga says "The industry can't wait any longer, we have already lost a lot of time."
