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Uganda says Tanzania to cap its oil transit fees at $12.20

BUSINESS
By Reuters | April 28th 2016
By Reuters | April 28th 2016
BUSINESS

Uganda said yesterday the cost of pumping its crude oil via a pipeline through Tanzania will be capped at $12.20 (Sh1,235) per barrel although the two had yet to agree a final levy in a project likely to be a public private partnership.

On Saturday landlocked Uganda said it had picked a route through Tanzania to Tanga port for the pipeline, rejecting one through Kenya, with which it had agreed last year to host the same pipeline.

Uganda and Kenya have confirmed commercial crude reserves and oil firms have been eager for an agreement on the export pipeline to make final investment decisions. 

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