Uganda National Oil Company (UNOC) has secured a $2 billion loan from Vitol Bahrain EC, a company linked to Vitol Group of Britain, to support major oil and energy projects in the country.
In a statement released on Sunday, December 21, 2025, UNOC said the loan will be paid back over a seven-year period. The funding is aimed at strengthening Uganda’s national oil infrastructure and supporting long-term investments in the petroleum sector.
According to the company, the money will help finance several key projects across the petroleum value chain. These include the construction of a new fuel storage terminal in Mpigi District, near Kampala, and the expansion of the existing petroleum terminal in Jinja in eastern Uganda.
The loan will also support the extension of a fuel products pipeline from Kenya into Uganda, which is expected to improve fuel supply, reduce transport costs, and enhance regional energy security.
UNOC said other national and regional logistics infrastructure projects may also benefit from the funding, in line with the government’s broader economic transformation agenda. These investments are expected to improve fuel storage, transportation, and distribution across the country.
The deal is seen as a major boost for Uganda’s oil and gas sector as the country prepares for increased production and aims to position itself as a regional energy hub.
UNOC is a state-owned company responsible for managing Uganda’s commercial interests in the petroleum sector. The new financing is expected to strengthen its capacity to deliver strategic projects that support economic growth and energy security.
