• Latest
Gov’t Begins Negotiations for Construction of US $ 4.2bn Oil Refinery

Gov’t Begins Negotiations for Construction of US $ 4.2bn Oil Refinery

8 years ago
UBOS Transfers Over 5,000 Tablets to Kingdoms and Universities

UBOS Transfers Over 5,000 Tablets to Kingdoms and Universities

8 hours ago
Equity Bank to Establish UAE Office, Boost Diaspora Services

Equity Bank to Establish UAE Office, Boost Diaspora Services

9 hours ago
Stanbic Bank Remittance Ad
Equity Shareholders Approve Kshs16bn Dividend, Appoint New Board of Directors

Equity Shareholders Approve Kshs16bn Dividend, Appoint New Board of Directors

9 hours ago
Benny Hinn’s Healing Crusade Draws Over 500,000 as Miracles Stir Nation

Benny Hinn’s Healing Crusade Draws Over 500,000 as Miracles Stir Nation

17 hours ago
Gov’t Clarifies Drop in Coffee Prices, Urges Farmers to Remain Calm

Gov’t Clarifies Drop in Coffee Prices, Urges Farmers to Remain Calm

17 hours ago
Museveni Pays Tribute to Maama Janet on Her 77th Birthday

Museveni Pays Tribute to Maama Janet on Her 77th Birthday

17 hours ago
SoftPower News
Tuesday, July 1, 2025
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women
No Result
View All Result
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women
No Result
View All Result
SoftPower News
No Result
View All Result
Home Business

Gov’t Begins Negotiations for Construction of US $ 4.2bn Oil Refinery

by SoftPower
August 7, 2017
Gov’t Begins Negotiations for Construction of US $ 4.2bn Oil Refinery
1
VIEWS

Government has commenced the process of negotiations with potential investors in the development of a greenfield oil refinery in the Albertine Graben. This follows discussions in which Uganda agreed with a consortium of four companies on the core project terms for the refinery project.

The Albertine Graben Refinery Consortium (AGRC) is made up of General Electric (GE) Oil and Gas, YAATRA Ventures LLC, Intracontinent Asset Holdings Ltd (IA) and Saipem SpA, in the role of Engineering, Procurement and Construction partner (EPC). Government zeroed on the four companies after a thorough review process of over 40 companies that had expressed interest.

Related Stories

Uganda’s Debt Remains Sustainable, Says Ggoobi

Police Searches Homes of Detained Ugandan MPs as Corruption Probe Deepens

Dead Person in Ishaka Bus Explosion was a Terrorist- Museveni

A refinery in Hoima district that will process 60,000 barrels of oil per day is expected to cost USD 4.27 billion. The refinery development also includes a product pipeline that starts in Hoima and terminates at Buloba, west of Kampala.

In a statement released Monday, by the Ministry of Energy, the Permanent Secretary Dr. Stephen Robert Isabalija said; “The agreement of the core project terms signals the start of Government discussions and negotiations with the Consortium on the Project Framework Agreement (PFA).”

“The PFA will detail the proposed solutions, validation of the solutions, risk mitigation measures, and additional due diligence necessary for accelerating investments and financing for the project.”

The Consortium has proposed to Government a financing approach and a path to establish, develop and operate a commercially viable refinery company with a strategic benefit to the country and the region.

The process of negotiating the Project Framework Agreement is expected to conclude in the following two months and later an agreement signed between AGRC and government.

Monday’s statement adds; “The Consortium will have the benefit of exclusivity during this period of negotiations and should the parties agree on all terms, the Consortium will be granted the rights and licenses to develop and manage the refinery as lead investor in a joint venture partnership with Government.”

Once the PFA has been signed, the oil development process will have entered the pre-Final Investment Decision (FID) that includes activities like; Front End Engineering and Design (FEED), Project Capital and Investment Costs Estimations (PCE), Environmental and Social Impact Assessments (ESIA), among others.

Uganda will participate in the refinery project through the Uganda Refinery Holding Company (URHC), a subsidiary of the Uganda National Oil Company (UNOC). East African states like Rwanda and Kenya which have already expressed interests to invest in the refinery will also hold their shares in URHC.

Tags: Featured

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *


The reCAPTCHA verification period has expired. Please reload the page.

Recent Stories

UBOS Transfers Over 5,000 Tablets to Kingdoms and Universities

Equity Bank to Establish UAE Office, Boost Diaspora Services

Equity Shareholders Approve Kshs16bn Dividend, Appoint New Board of Directors

Benny Hinn’s Healing Crusade Draws Over 500,000 as Miracles Stir Nation

Gov’t Clarifies Drop in Coffee Prices, Urges Farmers to Remain Calm

Museveni Pays Tribute to Maama Janet on Her 77th Birthday

Visit UBOS Website
SoftPower News Logo

SoftPower News is a subsidiary of SoftPower Communications LLC, a Ugandan digital media group. Keep posted of the latest from Uganda and East Africa.
Plot 4B Malcolm X, Kololo
P.O Box 1497, Kampala - Uganda
Tel: +256-392-001-701
Email: info@softpower.ug

This news site is licenced by Uganda Communications Commission (UCC)

ADVERTISEMENT
Stanbic Bank Ad
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
  • Regional
  • Defence & Security
  • Sport
  • Entertainment
  • More

© SoftPower News

error: Content is protected
No Result
View All Result
  • News
  • Tourism & Travel
  • Business
  • Lifestyle
    • Fashion
  • Regional
    • Kenya
    • Rwanda
    • Tanzania
    • Burundi
    • South Sudan
    • DR Congo
  • Defence & Security
  • Sport
  • Entertainment
  • More
    • Agriculture
    • Africa
    • Columnists
    • Education
    • Health
      • COVID-19
    • International News
    • News in Pictures
    • OpEd
    • Pearl Of Africa
    • People
    • Politics
    • Special Reports
    • Women

© SoftPower News