Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list

Uganda plans to join OPEC after first oil fields flow in 2020: minister

Oil | Crude Oil

Iran waivers have ended β€” is the muted price reaction an illusion?

Natural Gas | Oil

Platts Scenario Planning Service

Oil | Crude Oil | Oil Risk | Petrochemicals | Aromatics | Olefins | Petrochemicals Risk | Polymers | Solvents & Intermediates

S&P Global Platts University London


Saudi Arabia says there's consensus to push for lower inventories

Uganda plans to join OPEC after first oil fields flow in 2020: minister


Industry players, upstream and downstream markets, refineries, midstream transportation and financial reports

Supply and demand trends, government actions, exploration and technology

Daily futures summary

Weekly API statistics, and much more

Kampala β€” Uganda will seek to join OPEC once the East African nation starts pumping crude out from Lake Albert oil fields along the western border with the Democratic Republic of Congo at the end of the decade, Uganda's energy and minerals minister Irene Muloni said Wednesday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

Article -- Feature: Ghana's output ramps up on Sankofa oil field

The Ugandan government took the decision to join OPEC after consultations with other existing member states, including Equatorial Guinea, Muloni told an oil and gas conference in Kampala.

"When we start producing our oil, we will join OPEC, to reap the benefits from being a member of the organization, these include stability of prices," she said. "We remain on course to deliver first oil in 2020."

Uganda is hoping to start pumping as much as 200,000 b/d of crude in 2020 from its Lake Albert field, which could peak at 230,000 b/d in 2023, according to government estimates.

The project is dependent on the construction of an export pipeline via Tanzania, however, and most market watcher believe the 2020 start-up target is optimistic.

OPEC did not immediately respond to requests for comment.

Earlier this year, Equatorial Guinea's oil minister Gabriel Mbaga Obiang Lima told S&P Global Platts that he had asked Uganda and Cameroon to consider joining OPEC's existing African contingent, as well as East African oil exporter South Sudan.

Floundering oil prices have in recent years been a key concern to the development of Uganda's crude fields, where France's Total, China's CNOOC and UK's Tullow Oil are investing some $8 billion in oil fields.

Overall, the partners are developing some 1.7 billion barrels of recoverable oil in the Lake Albert Basin. The $3.5 billion planned export pipeline via Tanzania is expected to bring over 200,000 b/d of crude to the market from the project.

Under a 2012 farm-down deal, the operating responsibilities within the basin are equally divided, with Total, Tullow and CNOOC responsible for the EA-1, EA-2 and the EA-3 licenses respectively. CNOOC's EA-3 Block contains the large Kingfisher oil field, located at the southern tip of Lake Albert.

--Namala Doreen,
--Edited by Jonathan Loades-Carter,