Oil Finds Important In Uganda But Minor In African Terms

Uganda's oil stock is building on the back of recent discoveries and an increasingly confident government. However, the impact of these finds and subsequent government pronouncements should not be overestimated. The country is still one of Africa's minnows in terms of oil potential. This means that, even though the country may experience significant volume growth over coming decades, it is unlikely to make a large impact on the world stage. Nevertheless, in terms of Africa's own domestic situation, Uganda's growing confidence in its oil output potential is instructive of a wider confidence in the continent's importance as an energy supplier.

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