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Uganda Eyes Dubai Royal for Oil Refinery
Uganda is in talks with a United Arab Emirates (UAE) investment firm led by a member of Dubai’s royal family to develop a $4 billion oil refinery, a critical step towards refining its own crude oil and fostering its nascent hydrocarbons industry.
Energy Minister Ruth Nankabirwa announced on Tuesday that negotiations with Alpha MBM Investments, headed by Sheikh Mohammed bin Maktoum bin Juma Al Maktoum, began on January 16 and are expected to conclude within three months. This comes after negotiations with a U.S.-led consortium fell through last year due to financing delays.
“Several potential investors expressed interest,” Nankabirwa stated at a press conference, “and after careful evaluation, a memorandum of understanding was signed on December 22, 2023.”
The planned 60,000 barrels-per-day refinery holds immense significance for Uganda. President Yoweri Museveni’s government hopes to refine crude domestically, creating jobs, acquiring technological expertise, and reducing reliance on imported fuel.
Uganda expects to begin commercial crude oil production in 2025 from fields in the Albertine rift basin, jointly operated by the Ugandan government, China’s CNOOC, and France’s TotalEnergies.
Nankabirwa also announced on Tuesday that CNOOC has received a license to produce Liquefied Petroleum Gas (LPG) at its Kingfisher development area. This is one of Uganda’s two key commercial oil fields, the other being TotalEnergies’ Tilenga field.
It is worth noting that Uganda boasts an estimated 500 billion cubic feet of gas reserves. The country is also constructing a massive 1,443km pipeline to transport crude oil from its western region to Tanzania’s Tanga port for export.
Ramaphosa Axes Economist Leoka Amid PhD Doubts
President Cyril Ramaphosa has removed prominent economist Thabi Leoka from his advisory council amid mounting questions regarding her doctorate qualifications. Ms. Leoka, who claimed a PhD from the London School of Economics (LSE), has faced scrutiny since media reports failed to find evidence of the degree.
Leoka, renowned for her economic commentary and board positions, has denied any misrepresentation. However, she recently resigned from Anglo American Platinum and MTN SA boards, citing health concerns and the ongoing qualification inquiry.
On Monday, Ramaphosa’s spokesman confirmed Leoka’s immediate termination from the Presidential Economic Advisory Council, even though membership doesn’t require formal vetting. The council plays a crucial role in advising on “inclusive growth” policies.
Leoka previously cited workload and health issues, including glaucoma and partial vision loss, as reasons for not providing her degree certificate. She claimed to be undergoing surgery soon, further delaying verification.
However, LSE denied granting a PhD to either “Thabi” or “Bathabile” Leoka, the latter being her previous name. Leoka maintained her innocence during a radio interview, asserting: “The answer is a straight no” to allegations of misrepresentation.
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