Uganda’s ambitious $4 billion oil refinery project has gained momentum with the signing of new contracts backed by investors from the United Arab Emirates, highlighting the East African nation’s growing appeal to international energy partners. The agreements, reported by Bloomberg, are aimed at advancing construction and enhancing the refinery’s capacity to process locally produced crude.
“The UAE partnership is a significant boost for our refinery project, ensuring that we remain on track to meet production and export targets,” said Ugandan Petroleum Minister Ruth Nankabirwa, according to Business Insider.
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Industry analysts said the backing from UAE investors could accelerate project timelines and improve financing terms, while positioning Uganda as a more competitive player in regional oil markets. The refinery, expected to handle over 60,000 barrels per day initially, is central to the government’s strategy to boost local value addition and reduce dependence on imported refined products.
