The New Times: Oil and Gas - Why Local and Regional Companies Could Miss Out on Oil Dollars

The East African region is now a well-known hydro carbon hotspot and as a result foreign investors are flocking in to take advantage of this business opportunity.

However, there is need to put in place strategies that will enhance transparency and accountability, as well as ensure regional firms benefit from opportunities presented by the activities in the oil and gas sector, commented a participant at the just-ended seventh petroleum regional summit held in Kigali.

Sector analysts say regional companies are not benefitting from the lucrative business opportunities in the industry. Which is why some experts are calling for laws that support local firms to win tenders and provide services to oil firms operating in the sector. This is commonly known as local content aspect.

Read the full article HERE.