Uganda's President Museveni gives oil firms a month to consider deal

Ugandan President Yoweri Museveni met with the oil executives at State House, Entebbe on October 31. PHOTO | ISAAC KASAMANI | AFP

What you need to know:

  • Executives from oil firms met with President Yoweri Museveni on October 31 at State House, Entebbe to discuss key issues still hindering a final investment decision.
  • The contentious issues include a demand by the joint venture partners to be allowed to recover their costs before payment of taxes.
  • The government has suggested a formula that puts a cap on recoverable costs each year to allow it recover some taxes

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