Taimour Lay envisions the potential for a new government in 2011 to renegotiate and restructure Uganda’s oil contracts with Tullow, Total and CNOOC:
“Faced with the mess Museveni has bequeathed, the new president will find that the most important thing he ever does in power is to mobilise support for renegotiation of the oil agreements. Even if he ensures changes are made and the PSAs are significantly improved, oil extraction will bring upheaval, pain and dislocation to Uganda. So the new president’s role in amending the existing deals is to reduce the impacts of the ‘oil curse’, share what benefits are derived and help Ugandans weather the coming changes. This is an opportunity that could still be lost without sustained democratic engagement with the issues and radical institutional reform.”
See the full article published in Sunday’s Monitor.