Petroleum Africa
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Wednesday, November 2, 2016
Ernest Rubondo, executive director of the relatively newly formed Uganda Petroleum Authority, says the country hopes to conclude a deal by year end for a new contractor group to build its planned $4 billion refinery.
Speaking at Africa Oil Week in Cape Town, Tuesday, Rubondo said government is currently holding discussions with several interested parties. Once a deal is reached, the government of Uganda and the lead investor will form a refining company that will undertake financing, construction and operation, he stated.
A consortium led by RT Global Resources was previously selected to build the planned 60,000 bpd refinery, but the deal was quashed in July when negotiations broke down, Rubondo said.
With a lack of refineries in the greater East and Central Africa regions, Rubondo says its refinery will play an important role in supplying petroleum products from the oil that will begin producing in the Albertine Basin. Both the governments of Kenya and Tanzania are interested in taking a stake in the refinery at 2.5% and 8% respectively.
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