The US-based advocacy group Revenue Watch Institute (RWI) has warned that Uganda's proposed oil bill needs to set out clearer terms for the fiscal management of the country's nascent oil and gas industry.

Uganda is preparing to achieve first oil in the Lake Albert basin following an extensive exploration campaign led by operator Tullow.

The company is currently investing in oil training programmes to prepare Ugandans to work in the industry.

Before first oil is achieved, RWI warned, the state legislature must clarify fiscal policies in areas such as production share, bonus bids, royalties, tax payments, training budgets, and land rents.

"The award of blocks via competitive auctions gives the government a better opportunity to assess the pros and cons of various potential applicants for a license," claimed the report, which was obtained by Dow Jones Newswires yesterday (July 8th).

The draft oil bill was prepared by Uganda's ministry of energy and minerals development in May.

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