29 September 2015, Kampala – Kenya and Uganda are making plans to set up an oil company to be owned by all the stakeholders in the $4 billion crude oil pipeline deal.
It will help the two countries move fast in decision making as well as agree on tariffs set for transporting oil per barrel.
The framework of the oil company, shareholding, location, operations and the process of recruiting the management will be handled by the Kenya-Uganda committee on the crude oil pipeline.
“The company will be a joint venture owned by Uganda, Kenya and oil investors in the country. The firm will own and manage the pipeline and help us address the issue of tariffs,” said Joseph Nyaga who is in charge of the Northern Corridor Integration Project Authority in Kenya.
- Daily Nation