valued at about US$2.7 million (KSh271 million). When the first bidding process failed to attract a credible buyer, the oil was re-advertised in June 2018. Failure to dispose of the crude oil before the Uganda oil refinery is completed, will make the refinery the default buyer. At the prevailing trading price of $74 (UShs280,000) per barrel of Brent crude oil, the 45,211 barrels could fetch about US$3.3m (about UShs 13 billion), as of June 2018. In November 2019, the Daily Monitor newspaper reported that Uganda National Oil Company had secured a buyer for the test crude oil. The crude oil is stored in specialized containers at four sites; Kasemene 1, Ngara-1, Ngiri-2 in Buliisa District and at Tangi Camp in Nwoya District. At the prevailing price of WTI crude oil at US$55.06 (USh:202,048) per barrel, the 45,211 barrels could potentially yield US$2,489,318 (about USh9 billion), as of November 2019. Bulk petroleum products trading In March 2020 UNOC signed a memorandum of understanding (MOU) with Stabex International Limited, an oil products distributor in the African Great Lakes Region. UNOC will import oil products in bulk and sell them to Stabex for onward distribution. Other distributors are being sought. According to The EastAfrican, the MV Uhuru, a Kenyan vessel, owned by the Kenya Pipeline Corporation, transports bulk refined oil products (gasoline, diesel-fuel, kerosene and jet fuel) from Kisumu to Jinja Petroleum Storage Terminal and UNOC distributes them nationally and regionally. See also Irene Muloni Mary Goretti Kitutu Petroleum Authority of Uganda National Oil Corporation of Kenya Uganda–Kenya Crude Oil Pipeline Uganda–Tanzania Crude Oil Pipeline Oil companies in Uganda References External links Uganda: Wapakhabulo Appointed CEO of Uganda National Oil Company Abu Dhabi hosts Uganda’s oil chief and top executives As of 15 November 2018. Oil companies of Uganda National oil and gas companies Non-renewable resource companies established in 2014 Economy of Uganda 2014 establishments in Uganda Government-owned companies of Uganda Energy companies established in 2014