Uganda National Oil Secures $2 Billion Loan From Vitol Bahrain

Uganda National Oil Co. said it secured a $2 billion loan from Vitol Bahrain E.C. to fund its strategic national infrastructure and investments over a seven-year period.

The loan will unlock key projects across the petroleum value chain, the Kampala-based company said in a statement on X. Key projects include the greenfield storage terminal in Mpigi District, near the capital; expansion of the petroleum terminal in Jinja, in the east; and products pipeline extension from neighboring Kenya, it said.