Uganda names its oil 'Pearl Sweet' as it prepares for first exports

Uganda officially named its oil "Pearl Sweet" on Wednesday as its energy secretary said it expects to join the club of oil-exporting nations by the end of the year.

Two oil sites in western Uganda, run by French energy giant TotalEnergies and the China National Offshore Oil Corporation, are close to completion and will eventually give the east African country a peak production capacity of 230,000 barrels per day. Energy secretary Irene Batebe told a media the first site, Kingfisher, would come online "by the end of this year" with an initial production of 28,000 bpd. The name "Pearl Sweet" is a reference to Uganda's nickname as the "pearl of Africa" and the oil's low sulphur content.