Uganda’s oil to cost Shs1,200 per litre

Uganda’s oil to cost Shs1,200 per litre

Uganda’s oil will go for $70 (about Shs185,500) per barrel, the permanent secretary in the Ministry of Energy and Mineral Development, Mr Fred Kabagambe-Kaliisa, has said. He told a group of journalists on Tuesday in Kampala that the ministry had set $70 as a conservative price below which government will not sale its oil. With a barrel having 159 litres, the conservative price means that a litre of Uganda’s crude oil has been set at $0.4 cents (about Shs1,166).

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