Uganda names its oil 'Pearl Sweet' and prepares for first exports

Uganda has officially named its oil 'Pearl Sweet', referring to its nickname 'Pearl of Africa' and the low sulfur content of its crude. During a ceremony in Hoima, President Yoweri Museveni expressed confidence in the transformative potential of this resource for the national economy. The country aims to become an oil exporter by the end of 2026, with the Kingfisher and Tilenga projects at the heart of this strategy.