In Uganda, the China National Offshore Oil Corporation
has taken the pole position in discussions to buy out part of
Irish oil company Tullow's interests in more than one billion
barrels of reserves found under Lake Albert. With productive acreage
to develop in places like Ghana, the company does not want
to follow its Ugandan assets through to the stage where nearly
US$4 billion needs to be invested in a pipeline to get the crude
to port and a large refinery, pushed by the government in Kampala,
would be built. The total project could be worth $5-6 bn....
(This article contains approximately 323 words)
