Uganda becomes the world's newest oil exporter
Uganda has officially begun exporting its crude oil, marketed as Pearl Sweet, with production expected to ramp up significantly over the next three years. The project utilizes the new East African Crude Oil Pipeline to transport resources from the Albertine Rift region to international markets.
Uganda has officially entered the global oil market, exporting its first shipment of crude oil, branded as Pearl Sweet. Initially extracted from fields operated by the Chinese company CNOOC, production is currently at 25,000 barrels per day. This output is expected to reach 40,000 barrels per day within six months, with TotalEnergies scheduled to begin production at a larger field early next year. Uganda has set an ambitious goal to scale its total exports to 320,000 barrels per day within three years, following years of delays caused by infrastructure challenges and contractual disputes.
The oil is being transported via the East African Crude Oil Pipeline, a massive 1,443-kilometer infrastructure project connecting Ugandan oil fields to the Tanzanian port of Tanga. This pipeline is touted as the world's longest electrically heated crude oil pipeline. Meanwhile, Ugandan officials are currently in Singapore promoting the resource to international buyers. The government also plans to build a local refinery with a 60,000-barrel-per-day capacity to produce domestic fuel, with a final investment decision expected by February.
Based on reporting by nu. Translated and condensed by LocalHeadlines.
