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Uganda to start refining its own oil in 2014

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by ByaseL, Oct 19, 2011.

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    ByaseL JF-Expert Member

    Oct 19, 2011
    Joined: Nov 22, 2007
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    Uganda expects to start refining crude oil[​IMG] from its fields in 2014 and the proceeds will help end the economy’s dependence on donor aid, its president said.
    The east African nation discovered commercial oil deposits in 2006 in the Albertine basin along its border with the Democratic Republic of Congo[​IMG] and reserves of about 2.5 billion barrels
    have been confirmed.
    "The first oil to be refined will be in the year 2014," President Yoweri Museveni told a ruling party retreat in the eastern town of Jinja, in a speech seen by Reuters