CNOOC’s FID announcement is big boost to trade - China

CNOOC has already indicated its willingness to invest in to invest in both upstream and in the East African Crude Oil Pipeline. PHOTO/FILE

What you need to know:

  • Energy Minister Ruth Nankabirwa announced early this month that CNOOC had written to government confirming it commitment to invest in both upstream and in the East African Crude Oil Pipeline.  

China has described the recent Final Investment Decision announced by state-owned oil giant, China National Offshore Oil Corporation (CNOOC) as “another big boost” in Uganda-China trade.

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