Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Uganda to start refining oil in 2014

    Uganda to start refining oil in 2014

    October 19, 2011
    Share
    Facebook Twitter LinkedIn WhatsApp

    19 October 2011, Sweetcrude, Kampala – Uganda will start refining crude oil from its fields in 2014 and the proceeds are expected to help end the economy’s dependence on donor aid, its president said.

    The east African nation discovered commercial oil deposits in 2006 in the Albertine basin along its border with the Democratic Republic of Congo and reserves of about 2.5 billion barrels have been confirmed.

    “The first oil to be refined will be in the year 2014,” President Yoweri Museveni told a ruling party retreat in the eastern town of Jinja, Reuters report said.

    Officials had to commission a feasibility study for the refinery to convince firms involved in the sector that the project was viable.

    “We should resist ferociously those parasites who want to give away this resource for ‘a morsel’ of food as did Esau in the Bible,” Museveni said.

    Firms involved in the nascent oil sector include London-listed Tullow Oil, Heritage Oil, French oil company, Total, and Chinese oil group, CNOOC.

    Last week, Uganda’s parliament passed a resolution urging government to withhold consent to Tullow Oil’s proposed partnership with Total and CNOOC.

    That deal, in which Tullow is selling stakes in its Ugandan exploration properties to the two companies for $2.9 billion, is expected to unlock a $10 billion investment that will see the country’s oil sector advance into production phase.

    Related News

    Crude climbs on US jobs report, China talks

    Oil prices at risk amid supply increases, demand concerns

    Renaissance briefs FG on 200,000 b/d milestone following Shell asset takeover

    E-book
    Resilience Exhibition

    Latest News

    Crude climbs on US jobs report, China talks

    June 6, 2025

    Be deliberate in securing govt facilities in your communities – IBAS

    June 6, 2025

    UAE’s power capacity to reach 79.1GW in 2035

    June 6, 2025

    Gold steady near week high as markets brace for key US jobs data

    June 6, 2025

    Nigeria’s renewable power capacity to reach 1.7GW in 2035

    June 6, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.