Kampala – President Yoweri Museveni is set to unveil the official designation for Uganda’s newly discovered crude oil reserves at a press conference on Thursday. The government says the name will reflect the country’s cultural heritage and underscore its ambition to become a regional energy hub. Officials indicate the branding exercise is part of a broader strategy to attract foreign investment, streamline export contracts, and promote national pride. Industry analysts expect the announcement to coincide with the signing of a new production sharing agreement with a consortium of international oil firms.
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