Uganda proceeds with new refinery

摘要

Uganda is proceeding with the construction of a $2.5-B, 60-Mbpd crude oil refinery with approvals from analysts for this landlocked country's downstream plans. The engineering, procurement and construction (EPC) contract has been awarded to RT Global Resources of Russia. Uganda's neighbor and East Africa's largest economy Kenya, has confirmed the acquisition of a 2.5% stake in the new downstream complex at an estimated cost of $60.9 MM. "The construction of the refinery is the first step in monetizing the oil reserves of Uganda," says Chris Bredenhann, PwC Africa oil and gas advisory leader of the crude processing plant located in the Hoima district of the Albertine Basin.