Uganda picks refinery investors
10 August, 2017
The Newvision, 09 August 2017--Uganda said on Monday it had agreed preliminary terms with a consortium of investors, including General Electric to build and operate the country’s first oil refinery, reviving a much-delayed project.
The Government geologists estimate Uganda’s oil reserves at 6.5 billion barrels, of which 1.4-1.7 billion are considered recoverable.
The Albertine Graben Refinery Consortium, which also includes Yaatra Ventures LLC, Intracontinental Asset Holdings Ltd. and Italy’s Saipem SpA, was picked after a review of more than 40 companies, Uganda’s Energy Ministry said Monday in a statement.
