Uganda urges Kobil to invest in research in oil reserves development

The Minister of Energy and Mineral Development Syda Bbumba has urged Kobil Uganda, a subsidiary of Kenol/Kobil to invest in research in mineral development in Bundibugyo in Western Uganda to enhance and develop the local oil industry. "Five potential oil reserves have been spotted in Uganda and I will be happy to hand over a developer license to Kobil," she said.
Bbumba noted that in less than three years, Kobil had commanded an 8.2 % market share. Bbumba added that while the ministers and government boasted of working on the East African Community and regional cooperation, Kobil was already making the mark by being a major regional player. "Kobil has a station in all major districts in Uganda, however, Kobil is still at a 90 % rating until I see stations in Kitgum and Pader" she said.

The chairman Kobil Uganda group and group managing director Kenol/Kobil Mr. J.I. Segman said: "Kenol/Kobil adopted an expansion plan to develop the whole region." "Besides being the 2nd largest market in Kenya, and having 8.2 % market share in Uganda, In Tanzania Kobil already has 6 % market share," he further said.
Kobil has recently launched operations in Rwanda and a couple of months ago Kobil took over 100 % share of Jovenna Zambia.

In an unrelated development in Abuja, the Nigerian government granted "preliminary licence" to 18 firms to establish private refineries as part of an effort to liberalise the downstream sector of the petroleum industry, an official statement said. The oil-rich West African state currently has four state-run refineries with a total capacity of 450,000 bpd.
A recent report of a 34-member special committee on the review of petroleum products supply and distribution, had recommended liberalisation as well as the revamping of the existing downstream facilities.