Uganda and Tanzania have signed an agreement to explore the possibility of building a crude oil pipeline between the two countries, Uganda’s Ministry of Energy and Mineral Development said on Monday.
“The (agreement) creates a working framework for the potential development of a crude export pipeline from Hoima to Tanga Port of Tanzania,” the ministry said in a statement.
“The objective is to select a route that will result in the lowest unit transportation cost that constitutes the most viable option for the crude export pipeline,” it said.
SWE Price at posting:
6.9¢ Sentiment: Buy Disclosure: Held
