Why Uganda gets less from oil: Of the $7.1bn in contracts; $1.9bn went to local firms

In about a year’s time, Uganda is expected to commence commercial oil production. However, since the financial investment decision was taken about two years ago, only about 30% of the approved contract value has been awarded to Ugandan registered enterprises. This information comes from the oil sector regulator, who responded to questions regarding gains and losses registered so far, ahead of the oil convention in Kampala. According to the Petroleum Authority of Uganda, a total of $20 billion is expected to be invested before the production of the first oil, which is due in 2025. Ismail Ladu reports. #NTVNews #NTVTonight #NTVWeekendEdition Subscribe to Our Channel For more news visit http://www.ntv.co.ug Follow us on Twitter http://www.twitter.com/ntvuganda Connect with us on Messenger via m.me/NTVUganda