Uganda Secures New Investors to Advance $4 Billion Oil Refinery Project
Uganda’s ambitious $4 billion oil refinery project is accelerating after the government signed new agreements that brought additional foreign investors on board.
The development signals growing international confidence in Uganda’s emerging energy sector.
The latest contracts are designed to advance construction plans and strengthen the refinery’s capacity to process domestically produced crude oil.
Petroleum Minister Ruth Nankabirwa said the renewed investor support reinforces the country’s long-term strategy to meet its production targets and boost future oil exports.
Energy analysts note that the fresh financial commitments could streamline project execution, enhance funding structures, and improve Uganda’s competitive position within East Africa’s oil industry.
The refinery, expected to launch with a processing capacity of over 60,000 barrels per day, is central to Uganda’s strategy to add value to its crude oil resources and reduce reliance on imported refined products.
