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Message: [QUOTE="Nehanda, post: 30195, member: 2262"] Uganda just reached a big deal for its oil future. The country's energy ministry, national oil company, and UAE partner Alpha MBM agreed to build an oil refinery. President Museveni watched them sign papers at his official house last Saturday. He thanked Sheikh Mohammed Bin Maktoum for choosing Uganda as an investment spot. The UAE company will help construct a plant that can handle 60,000 barrels daily. Museveni stressed that this project goes beyond making fuel. He wants Uganda to sell finished products instead of buying them from other countries. "We must stop exporting raw materials," he said, pushing for added value on everything Uganda makes. This agreement kicks off the design and building phase for the refinery, which, according to the national oil company's statement, should finish in three years. The Hoima facility fits into Uganda's bigger plans for its 6.5 billion barrels of oil found in the Albertine area. A special division of the national oil company runs the project. Plans started over ten years ago but kept hitting money problems and changing partners. An earlier group with American and Italian companies backed out after long talks, forcing Uganda to find new investors. Alpha MBM stepped in as the fresh partner after careful checking by officials. The refinery will turn crude oil into gasoline, diesel, kerosene, jet fuel, and heavy oils when running. This should cut Uganda's need for foreign fuel, help steady prices, and boost energy security. Uganda keeps buying more foreign oil each year - from $976 million worth in 2020 to over $2 billion in 2023. The project includes pipelines, storage tanks, and roads. A new airport will be built nearby to support oil operations. This work should create thousands of jobs and help local businesses grow. The refinery aims to serve not just Uganda but also Rwanda, South Sudan, eastern Congo, Kenya, and Tanzania. These neighbors might buy shares or purchase the refined products. Officials promise to protect nature and help local communities during construction. They've already handled most land purchases and moved people to new homes. The next steps involve detailed engineering plans, finding money, and setting up investment rules. If all goes as planned, the refinery should start making products around 2028, about when oil fields operated by TotalEnergies and CNOOC begin producing. [/QUOTE]

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