oil industry

Uganda says first oil in April 2025, eyes China for pipeline funding

Reuters
Uganda says first oil in April 2025, eyes China for pipeline funding

OIL. Ugandan activists march in support of the European Parliament resolution to stop the construction of the East African Crude Oil Pipeline, in Kampala, Uganda, October 4, 2022.

Abubaker Lubowa/Reuters

'China is always ready,' Uganda's energy minister says when asked if the money would come from China

Uganda aims to start commercially pumping its oil reserves in April 2025, with China being considered as a potential source of funds to develop an export pipeline, Uganda’s energy minister said on Tuesday, November 1.

Although Ugandan officials have previously mentioned 2025 as the year for commencement of production, it is the first time they are being specific on the month.

“I hope that by April 2025 we shall see the first oil,” Ruth Nankabirwa Ssentamu said at a conference in Abu Dhabi.

Uganda and Tanzania are also confident they will secure funding for a planned crude export pipeline, she said, adding Tanzania President Samia Suluhu Hassan was expected to travel to China soon “in search for, you know, the completion of the mobilization of resources. And I know that we will get money.”

“China is always ready,” she said when asked if the money would come from China. “China is always ready and I want to encourage Europe, I want to encourage America to [also]…invest in Uganda.”

In February, TotalEnergies and its partner China National Offshore Oil Corporation reached a final investment decision to develop Uganda’s oil fields in the country’s west.

Uganda’s President Yoweri Museveni has criticized the European Union parliament after it passed a resolution urging TotalEnergies to delay development of the pipeline by a year to explore an alternative route or alternative renewable energy projects. – Rappler.com

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