Oil refinery in Uganda profitable

President Yoweri Museveni has expressed happiness to learn that the economics of refining crude oil that was recently discovered in the country are very good for Uganda. The President was meeting Mr. Claude Landry, an engineer of OPTEC Refinery and Petro-Chemicals consultancy firm that is based in Montreal, Canada. The meeting took place today at State House, Nakasero. Mr. Claude Landry, who has been in the petroleum consultancy industry for the past 50 years, was accompanied by Uganda’s High Commissioner to Britain, Ms. Joan Rwabyomere along with 2 legal advisors at the Commonwealth Secretariat, Mr. John Gara and Dr. Ekpon Omonbude. Engineer Claude Landry explained to the President that Uganda’s oil is among the best in the world because it has very low contents of sulphur which, he said reduces dramatically the costs of refining the crude oil.

He added that other advantages include elimination of transport costs as Uganda is a land-locked country and the market for the petroleum products is readily available. He further observed that refining 100,000 barrels of oil per day, would give the refinery a life span of 33 years.

President Museveni expressed gratitude over the analysis adding that the refinery would help avoid the issue of the pipeline that would get waxed up along the transmission pipes thereby requiring other remedies to unblock the pipes.

“You have immunized me against any confusion of the refinery issue”, the President joyfully remarked.

State Minister for Investment, Mr. Aston Kajara, the Permanent Secretary Ministry of Mineral Development and Energy, Mr. Fred Kabagambe and the Principal Private Secretary to the President, Mrs. Amelia Kyambadde, attended the meeting.

Source: State House, Republic of Uganda, 25 June 2009.