Image Credits: Pixabay, Image used for illustrative purpose only.
2 minutes read

Uganda in talks with UAE investment firm over planned oil refinery

Uganda is negotiating with an investment company led by a member of Dubai’s royal family to develop a planned $4-B refinery for some of its crude oil, its energy minister said on Tuesday.

Uganda in July last year terminated negotiations with a consortium that included a unit of U.S. firm Baker Hughes over its failure to mobilize financing in time.

Uganda is counting on the 60,000 barrel-per-day refinery for its nascent hydrocarbons industry.

“Expressions of interest were received from several potential investors and they were evaluated … following which a memorandum of understanding was signed on the 22 of December 2023,” Minister of Energy and Mineral Development Ruth Nankabirwa said at a news conference.

Alpha MBM Investments’ website says it is led by Sheikh Mohammed bin Maktoum bin Juma Al Maktoum, a member of Dubai’s royal family.

Uganda expects to start pumping crude commercially in 2025 from fields in the Albertine rift basin in the country’s west near the border with the Democratic Republic of Congo.

The fields are jointly operated by the Ugandan government via the state-run Uganda National Oil Company, China’s CNOOC and France’s TotalEnergies.

President Yoweri Museveni’s government wants to process some of its crude domestically to boost employment and benefit from technology transfer.

Nankabirwa also said Uganda had on Tuesday issued a license to CNOOC to produce Liquefied Petroleum Gas at a plant to be constructed in the Kingfisher development area that CNOOC operates.

Kingfisher is one of Uganda’s two commercial oil development fields. The second, Tilenga, is operated by TotalEnergies.

The minister did not say how much gas CNOOC would produce annually. Uganda’s gas reserves are estimated at 500 billion cubic feet.

Legal Disclaimer:
Hydrocarbon Processing
GLOBAL FLOW CONTROL provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above. "

Latest News

  • Petro (Chemicals)
    1 minute read

    ExxonMobil to invest $15 billion in…

    18 Jun. 2024 | Global Flow Control
  • Renewables
    1 minute read

    CIP enters into partnership with Atlas…

    18 Jun. 2024 | Global Flow Control
  • Hydrogen and Carbon Capture
    1 minute read

    Essar to set up green hydrogen…

    18 Jun. 2024 | Global Flow Control
  • Renewables
    1 minute read

    Gruner Renewable to build Asia’s largest…

    17 Jun. 2024 | Global Flow Control