Uganda oil displayed on global market
Minister of Energy and Mineral Development, Dr Monica Musenero Masanza, unveiled the crude before international refiners, traders, investors and other petroleum industry players attending the conference. “It is my great honour and privilege to be here at APPEC 2026 for this historic occasion: the unveiling of Uganda’s crude oil to the global market,” Musenero said.
“Pearl Sweet therefore offers refiners across Asia, the Middle East and Europe a reliable and competitive feedstock, with a strong balance of operational flexibility, product value and refinery economics,” Musenero said. The unveiling comes as Uganda prepares for first oil, effectively taking the country’s crude from its domestic naming ceremony to the international market and placing it before potential buyers, refiners and traders.
Uganda’s petroleum resource base is estimated at 6.5 billion barrels of oil in place, of which approximately 1.4 billion barrels are recoverable, alongside about 500 billion cubic feet of natural gas. The resources have so far been confirmed in less than 20 per cent of the Albertine Graben, leaving further potential for exploration and investment.
Together with the planned refinery and associated infrastructure, investments in Uganda’s oil and gas sector are estimated at $20 billion. EACOP will transport Uganda’s crude over 1,443 kilometres from Hoima to the marine export terminal at the Port of Tanga in Tanzania. Construction of the pipeline and export terminal has surpassed 90 per cent completion.
Uganda’s petroleum development programme also includes a planned 60,000-barrel-per-day refinery at Kabaale in Hoima District, a 211-kilometre multi-products pipeline and a petroleum products storage terminal. “The Government of Uganda is determined that our oil and gas sector must not operate as an enclave. It must be a catalyst for industrialisation, not simply an extractive activity,” Musenero said.
Beyond the current developments, exploration is continuing in the Moroto-Kadam, Lake Kyoga and Hoima basins, while preparations are underway for Uganda’s Third Petroleum Licensing Round. Musenero urged refiners, traders and investors attending APPEC to consider Pearl Sweet crude and explore investment opportunities in Uganda’s wider oil and gas sector. “I invite all of you to interest yourselves in Pearl Sweet crude, and in the other exciting opportunities in oil and gas in Uganda, the Pearl of Africa,” she said.
