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Uganda Inks Deal With UAE Company for Refinery Project

15:34, 30 March 2025

Ekaterina Shilova

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Alpha MBM Investments is a private investment office established by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, a member of the Dubai Royal Family. The organization operates across Africa and focuses on actively investing in and developing projects in various sectors, including oil and gas production.

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Uganda and Dubai-based Alpha MBM Investments have agreed to jointly develop a 60,000 BPD refinery in Uganda.

Alpha MBM will hold a 60% stake in the project, with the Uganda National Oil Co. owning the remaining 40%. The $4 billion project includes a storage terminal and a 212km multi-product pipeline.

Sub-Saharan Africa

Uganda Raises Vigilance on DRC Border Amid Clashes With Rebels: UPDF Acting Spokesman Says

27 March, 18:07

Despite previous failed attempts to secure investors since discovering commercial oil reserves in 2006, Uganda's oil fields are now being developed by petroleum company TotalEnergies SE, with an estimated 1.4 billion barrels of recoverable oil out of a total resource of 6.5 billion barrels.