Uganda calls for oil refinery funding
Uganda which is expected to become an oil producing country decided it will build an internal oil refinery to feed the domestic and the regional market.
The Ministry of Energy and Minerals Development on Monday issued a statement revealing that they are now open to receiving offers from public sector capital providers to fund the proposed oil refinery.
Uganda which is expected to become an oil producing country decided it will build an internal oil refinery to feed the domestic and the regional market.
It is also working on an export pipeline to take the country’s crude oil to the international market through the Tanga Port in Tanzania.
While Uganda is making headways regarding the implementation of the export pipeline, the country which expects first oil in 2025 is stuck with the refinery project.
Despite getting partners in the Albertine Graben Energy Consortium, no suitable funder is willing to finance the 60, 000 barrels per day project.
So far, the government and the consortium have completed the Refinery Configuration or Front End Loading 2 (FEL-2(, the Frond End Engineering Design (FEED), the project Environment and Social Impact Assessment (ESSIA) study and commercial and marketing study.
