Uganda's State-Owned Oil Firm to Borrow $2 Billion From Vitol

Uganda's state-owned oil firm to borrow $2 billion from Vitol

Uganda's Bold Oil Bet: $2 Billion Loan Boosts National Infrastructure Dreams

Uganda's Bold Oil Bet: $2 Billion Loan Boosts National Infrastructure Dreams The Uganda National Oil Company (UNOC), a state-owned entity, is set to borrow $2 billion from Vitol, a global commodities trading unit, to bolster its infrastructure projects—including a crude oil refinery. This decision was revealed by a finance ministry official.In partnership with UAE-based Alpha MBM Investments, Uganda aims to build a $4 billion refinery with a cap…

Inside The Terms & Conditions Of UNOC’s UGX7 Trillion Loan As Uganda Looks To Earn Big From Oil Operations » Business Focus

A fuel tanker on display during the launch of UNOC’s bulk fuel import initiative/Business Focus photo. In a high-stakes decision taken against a backdrop of swelling public debt, Parliament has sanctioned UNOC’s plan to borrow USD 2 billion (about UGX 7.11 trillion) from global energy trader Vitol Bahrain. The proposed loan, one of the largest non-traditional financing arrangements in Uganda’s history, comes as the country’s public debt stood at…

Uganda Seeks Stake in Kenya Oil Pipeline via $2 Billion Vitol-Backed Loan

Uganda Seeks Stake in Kenya Oil Pipeline via $2 Billion Vitol-Backed Loan Daniel Onyango Wed, 12/17/2025 - 16:08 The Ugandan government plans to use a portion of a proposed $2 billion loan backed by global oil trader Vitol to acquire a stake in the Kenya Pipeline Company (KPC) , according to a finance ministry brief submitted to parliament. The move comes as Kenya prepares to divest up to 60% of the state-owned pipeline operator through an init…

Parliament approves UNOC’s UGX 7 trillion loan from Vitol Bahrain to fund oil refinery, Kenya pipeline shares and storage facilities

Parliament has approved a proposal authorising the Uganda National Oil Company (UNOC) to borrow up to USD 2 billion (UGX 7.12 trillion) from Vitol Bahrain E.C. (VBA), a global trader... The post Parliament approves UNOC’s UGX 7 trillion loan from Vitol Bahrain to fund oil refinery, Kenya pipeline shares and storage facilities appeared first on CEO East Africa.