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Uganda Seeks Investors for $2 Billion, 150,000-Barrel-Per-Day Refinery
BANGALORE, INDIA--August 24, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--Uganda's State Minister for Energy Simon D'Ujanga said that Uganda is hoping to find suitable investors for a proposed $2 billion refinery by the end of this year. He said that the government has completed a general feasibility study, and if the financing structure and project funds could be put in place by the end of the year, construction work on the refinery would begin. Foreign firms are continuing to show great interest in Uganda's oil resources. Foreign oil exploration companies currently operating in Uganda include U.K.-based Heritage Oil plc (LSE:HOIL) (Jersey), Tullow Oil plc (LSE:TLW) (London), and Tower Resources plc (LSE:TRP) (London). Eni SpA (NYSE:E) (Rome, Italy) recently held talks with Ugandan president Yoweri Museveni and expressed interest in investing in the nation's oil sector.
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Industry Segment: Petroleum Refining
Word Count: 691 Words
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