This blog post explains how low oil prices have imposed difficult choices in Uganda. Uganda's Ministry of Energy and Mineral Development (PEPD) recently extended the deadline for firms to submit bids in its first-ever round of licensing for six oil blocks in the Albertine Graben. The extension is intended to encourage more companies to apply, after the ministry received a disappointing collection of bids in the first go-round. This struggle to find appropriate investors is the latest consequence for the country of the sharp fall in global oil prices. The article's authors believe that Uganda can come out of the current period of low oil prices with a growing economy and healthy finances, by setting up systematic processes to ensure transparent budgetary choices today, and embracing, on its own terms, international initiatives that provide platforms and support to undertake accountability reforms.

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Natural Resource Governance Institute