Uganda Targets 2027 for Multi-Billion Crude Oil Refinery Decision
The Petroleum Authority of Uganda (PAU) has announced that it expects to reach a final investment decision on its planned crude oil refinery in February 2027. This milestone could pave the way for the long-delayed development of the $4 billion project, which will have a significant impact on Uganda's emerging hydrocarbons sector.
The refinery, designed to process 60,000 barrels of crude oil per day, is expected to become a key pillar of Uganda's oil industry. The East African nation signed a memorandum of understanding (MoU) with UAE-based Alpha MBM Investments in March last year to develop the refinery after previous efforts involving investors from Russia and South Korea failed to move forward.
Under the agreement, Alpha MBM Investments is expected to hold a 60% stake in the refinery, while the remaining 40% will be owned by the state-run Uganda National Oil Company (UNOC). Basic engineering work on the project has already begun, according to the PAU.