Uganda Names Crude Oil Blend Pearl Sweet Ahead of Commercial Production

Uganda's crude oil blend has been named 'Pearl Sweet', marking a significant milestone for the East African country as it gears up for commercial production by the end of this year. The name pays homage to Winston Churchill's description of Uganda as 'the pearl of Africa' in the last century, with 'sweet' referencing the low sulfur content of the crude blend.

The naming ceremony took place at a remote oil infrastructure site in Kikuube district, where officials announced that the country's estimated 1.6 billion barrels of recoverable oil reserves will be developed by French oil company TotalEnergies and China National Offshore Oil Corporation (CNOOC), with the Ugandan people owning a 15% stake through the Uganda National Oil Company.

Ugandan President Yoweri Museveni hailed the development as an important milestone in the country's journey to develop its oil and gas resources for economic transformation. He emphasized that refining, petrochemical industries, and using associated gas for electricity generation will maximize the value of the country's resources at home and reduce dependence on imported petroleum products.