Petroleum Africa
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Wednesday, November 30, 2016
Uganda has received interest from China’s Sinopec to develop the East African country’s planned refinery. The refinery was originally supposed to be constructed by a consortium led by Russian firm RT Global Resources, but talks over the final agreement broke down earlier this year.
According to Irene Muloni, Uganda’s Minister of Energy and Development, an investor for the project will be selected by February. “There are a number of companies that have expressed interest in joining us in the development of this refinery,” Muloni said during a news conference. Muloni said Sinopec was one of those companies.
Muloni said France’s Total has indicated it would take up a 10% percent stake in the refinery project. The governments of Kenya and Tanzania have committed to taking stakes in the project also.
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