Energy Capital & Power

Uganda Invites Investors to Finance Oil Refinery

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The government of Uganda, through the Ministry of Energy and Mineral Development, has announced that it is seeking investment partners to advance the development of a 60,000 barrel-per-day oil refinery.

In a press statement, the ministry stated that it has reached several milestones regarding the implementation of the refinery and now seeks financing to progress further. Specifically, the Ministry is turning to public sector capital providers to accelerate the implementation of the downstream project.

“The key achievements so far include the completion of the Refinery Configuration or Front-End Loading, the Front-End Engineering Design, which defines the technical design of the oil refinery, the project Environmental and Social Impact Assessment study, logistics study and commercial and marketing study,” stated the ministry.

The announcement comes at a time when Uganda and its partners are advancing the rollout of oil and gas upstream, midstream and downstream projects to achieve energy security leveraging local hydrocarbon resources.

In mid-May, the government signed two deals for energy exploration in the Turaco Block and Kanywataba area with DGR Energy Turaco Uganda and Armour Energy following the construction approval of the East African Crude Oil Pipeline and the launch of drilling works at the Kingfisher Oilfield in January 2023.

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Nicholas Nhede

Nicholas Nhede

Nicholas is an energy sector journalist with a passion on how technology and diversification of the energy mix can be used to address energy sector challenges. Nicholas holds a diploma in Journalism and Communication studies and has been covering energy-related topics including the Internet of Things, distributed energy and digitalisation since 2015.