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Friday, April 11, 2014
Uganda came another step closer to getting its refinery when it, along with leaders from Kenya and Rwanda agreed on the process of implementing the construction of a regional oil refinery. The refinery will be located in western Uganda.
Uganda has been pushing for a refinery since exploration successes in its Lake Albert region moved toward the development stage. Currently the only refinery in the region is located in Kenya and does not have the capacity to handle production from neighboring countries.
Uganda’s proposed refinery will have a capacity of 60,000 bpd of oil. The project will be developed under a private-public partnership. The impending multi-billion refinery will be jointly owned by the public (40%) and the private sector (60%) according to Reuters.
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