Uganda will start building its own oil refinery in 2012 to meet local demand and later scale up capacity for exports, a move that is set to radically change the structure of Kenya’s economy.
Uganda will refine 25,000 barrels per day (bpd) to meet its local consumption and later refine up to 200,000 bpd targeting the export markets of Kenya, Rwanda, Burundi and DRC, which are served from the Kenyan market.
This will hurt the earnings outlook of a host of Kenyan institutions such as oil marketers, transporters, Kenya Pipeline Corporation (KPC), Kenya Petroleum Refinery Ltd and the government, which will lose billions of shillings in oil taxes.Read More
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