In 2006, Uganda confirmed the presence of enormous commercial petroleum reserves around Lake Albert along the country’s western border. Since then, geologists have proven at least 2 billion barrels. With only about 25 percent of the region explored, some reports indicate that there could be as much as three times that amount – enough to make Uganda a major player in the African oil industry. The oil is set to begin flowing later this year, or perhaps in early 2012, with production targeted at around 200,000 barrels per day.

read more