Nairobi/Kampala — Uganda, which plans to refine its own oil, says it will require as much as $70m to construct a storage facility for refined products on the outskirts of the capital, Kampala. The East African country will initially build storage with capacity for 60,000m³, which it may upgrade to 138,000m³ if there is demand, Josephine Wapakabulo, CEO of Kampala-based Uganda National Oil Company, said on Thursday in response to questions. Uganda, which plans to start oil production from its western Lake Albert region in 2020, will seek a joint venture partner for the project and will invite bids before the end of 2018, she said. It already has storage for 30,000-million litres in the eastern town of Jinja. Uganda signed in April a project framework agreement with the Albertine Graben Refinery Consortium, which includes a unit of General Electric, to develop a 60,000 barrel per day refinery. The facility in the oil-rich Hoima region will initially operate at half capacity before bei...
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