Nov. 15 (Bloomberg) -- Mini Refineries Enterprises of Israel may invest in an oil refinery in Uganda, the East African nation’s presidency said.
Ugandan President Yoweri Museveni met Mini Refineries officials including founder Micheal Ende in Israel yesterday to discuss the plans, according to a statement e-mailed by the Kampala-based office yesterday. The company specializes in “mini refineries that improve crude oil on site before processing,” it said.
Tullow Oil Plc, the London-based explorer with the most licenses in Africa, discovered commercially viable oil deposits in the Lake Albert basin in 2006 and is leading the production testing. The company formed a partnership with Total SA of France and China National Offshore Oil Corp. to build a refinery. Uganda has an estimated 2.5 billion barrels of oil, with more than 1 billion already discovered, according to Tullow.
Uganda may begin refining oil products in the next 12 to 18 months, the Daily Monitor reported on Nov. 9, citing Fred Kabagambe-Kaliisa, permanent secretary in the Energy Ministry.
--Editors: Paul Richardson, Ben Holland.
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