Uganda and neighbor Tanzania are actively pursuing Chinese financing to construct an export pipeline by 2025.
Uganda plans to begin commercially exploiting its reserves of oil in April 2025, with China being deemed as a prospective source of financing for the development of an export pipeline, officials stated on Tuesday.
Even though Ugandan officials have stated previously that production will begin in 2025, this will be the first time they have also been exact about the month.
“I hope to see the initial oil by April 2025,” energy minister Ruth Nankabirwa Ssentamu stated during a convention in Abu Dhabi.
She also stated that Uganda and neighboring Tanzania are optimistic about raising funds for a scheduled crude export pipeline.
Tanzanian President Samia Suluhu Hassan was anticipated to travel to China soon, according to Ssentamu, to “complete the mobilization of resources.” And I am sure we will get the funding.”
Upon being questioned if the funds would come from China, she said, “China is always prepared.”
“China is always prepared, and I want to motivate Europe and the USA to also invest in Uganda.”
TotalEnergies as well as its partner China National Offshore Oil Corporation finalized an investment decision in February to advance Uganda’s oilfields in the western region of the country.
Ugandan President Yoweri Museveni has slammed the European Union parliament for approving a motion imploring TotalEnergies to postpone the pipeline’s construction for a year in order to investigate an alternative route as well as alternative renewable energy solutions.
Environmentalists have also criticized the project proposal because passes through one of the nation’s parks. Museveni, on the other hand, has endorsed it, cautioning that he will not “allow anybody to play around” with “my oil”.
