Uganda's president announces oil discovery after years of exploration

President Yoweri Museveni announced
Sunday that Uganda has discovered oil after years of
exploration in the country's west and will soon begin
production and start building an oil refinery. He pledged
to use the resource to fund development in the country, AP reported.
Museveni's announcement was the first acknowledgment by a
government official that Uganda has oil reserves, bringing
it into Africa's oil producing club alongside countries
like Nigeria, Equatorial Guinea, Sudan and Chad, although
with far fewer barrels.
The president said that he expected production to begin in
2009, with initial production of 6,000-10,000 barrels a
day.