Kampala — Uganda said on Monday it had appointed global commodities trader Vitol to market its share of crude from the country’s oilfields, adding that first exports are now expected in early 2027, later than previously planned.
- Uganda will receive 15% of production through state-owned Uganda National Oil Company. France’s TotalEnergies will take 56.67% and China’s CNOOC the rest.
- Uganda had previously said commercial crude production would begin this year. However, with around four months remaining, key infrastructure, including an export pipeline, has yet to be completed.
- “Vitol’s global reach, trading expertise and logistics strength will help us place this crude with the right refiners and maximise value for Uganda when exports begin in early 2027,” the ministry of energy and mineral development and UNOC said in a joint statement.
- Vitol has expanded its presence in Uganda in recent years. It is already the country’s sole importer of refined petroleum products and last year provided a $2 billion loan to UNOC as part of a broader push across Africa.
- Last week, Uganda named its blended crude oil grade “Pearl Sweet” ahead of the start of production.
Reporting by Elias Biryabarema. Editing by Wendell Roelf and Mark Potter – Reuters
