{"id":88303,"date":"2024-01-24T00:00:00","date_gmt":"2024-01-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/alpha-mbm-could-invest-in-usd-4-bn-crude-oil-refinery-in-uganda\/"},"modified":"2024-01-24T00:00:00","modified_gmt":"2024-01-24T00:00:00","slug":"alpha-mbm-could-invest-in-usd-4-bn-crude-oil-refinery-in-uganda","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/01\/24\/alpha-mbm-could-invest-in-usd-4-bn-crude-oil-refinery-in-uganda\/","title":{"rendered":"Alpha MBM could invest in USD 4 bn crude oil refinery in Uganda"},"content":{"rendered":"

Dubai-based private investment office<\/strong>Alpha MBM Investments<\/a><\/strong> is in discussions <\/strong>with Uganda for the establishment of a <\/strong>USD 4 bn refinery<\/strong> to process a portion of the country\u2019s crude oil, Ugandan Energy Minister Ruth Nankabirwa said, according to Reuters<\/a>. The negotiations, which began last week, are expected to be completed in three months, Nankabirwa said. <\/p>\n

These negotiations come after the collapse of talks with a US consortium<\/strong>, which included Baker Hughes, last year over the refinery \u2014 which will produce 60k barrels per day \u2014 due to its inability to secure financing in a timely manner. Several potential investors submitted expressions of interest, which were evaluated before an MoU was inked with MBM Investments, Nankabirwa said during a press conference. <\/p>\n

Uganda is set to commence commercial crude oil production in 2025,<\/strong> tapping into fields within the Albertine Rift Basin situated in the western part of the nation, in proximity to the border with the Democratic Republic of Congo. The Ugandan government manages the oil fields through the state-operated Uganda National Oil Company, in conjunction with China's CNOOC and France's TotalEnergies.<\/p>\n

Who is Alpha MBM Investments? <\/strong>The investment office is led by Dubai royal family member Sheikh Mohammed bin Maktoum bin Juma Al Maktoum, with ventures in sectors ranging from tech and infrastructure to sustainable energy, according to its website<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

Talks are expected to wrap within three months<\/p>\n","protected":false},"author":1,"featured_media":88304,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1557],"tags":[711,143,7,25,712],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-alpha-mbm-investments","tag-energy","tag-enterpriseam-uae","tag-investment-watch","tag-totalenergies","wpautop","entry"],"acf":{"mongo_id":"0cfcd1a9-e902-4b25-ae07-1e6db4c824c4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/2041.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Uganda in talks with Dubai-based Alpha MBM Investments for a USD 4 bn oil refinery","related_issue":[88294],"teaser":"Talks are expected to wrap within three months","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.1d16ecf7-52a4-406f-b501-d808a21c3156.mp3"},"yoast_head":"\nAlpha MBM could invest in USD 4 bn crude oil refinery in Uganda - 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