Vitol Deal Revives Uganda’s $4 Billion Refinery Ambitions

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Vitol has agreed to provide $2 billion in loans to the Ugandan government for energy infrastructure projects, including a $4 billion refinery, reviving the country's ambitions for the project.

Market Impact

Market impact analysis based on bullish sentiment with 66% confidence.

Sentiment
Bullish
AI Confidence
66%

Article Context

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Commodity trading major Vitol will provide $2 billion in loans for the Ugandan government, to be used for energy infrastructure projects, including a refinery, Reuters has reported, citing a Ugandan government official. The 60,000-barrel-daily facility is one of the key infrastructure projects related to the East Africa Crude Oil Pipeline that will carry Ugandan crude to the East African coast in Tanzania. Initially, the Ugandan government tried to secure funding for the $4-billion project on international financial markets, but failing that, it…

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Original article published by OilPrice.com on December 17, 2025.
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