In a meeting with President Yoweri Museveni of Uganda, Patrick Pouyanné, CEO and Chairman of Total, Total’s expressed strong commitment to work towards producing the Ugandan oil resources as soon as possible whatever the global oil price.
Pouyanné’s lack of fear for the volatile oil prices that have ripped the industry globally comes from the fact the ‘Uganda oil resources are potentially low cost resources' and 'will be competitive in the market’
President Museveni and Patrick Pouyanné according to a statement issued by the oil company discussed ‘issues related to the oil industry in general as well as the projects of Total in Uganda’ at the December 22, 2015 meeting.
The statement said the two discussed the studied outlets to market the Ugandan oil at national, regional and international level including the view that the crude export route should be primarily selected on the basis of economical criteria, lowest cost and the reliability and safety of the operations.
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