"Today, we have so much demand locally that we need to fulfill — we need to fulfill the local demand of petroleum products for refining, but at the same time also export a reasonable amount to the international market," Nabbanja said on the margins of CERAWeek annual energy conference.
Nabbanja and several other African energy leaders underscored during a panel discussion that the region needs investors to bolster its energy infrastructure and production.
The Ukraine conflict has reportedly made Africa an attractive investment opportunity for energy security after the region had some exploration successes in 2022.
In February, Russian ambassador-at-large and the head of the Russia-Africa partnership forum Oleg Ozerov told Sputnik that Russia has much potential in the oil and gas spheres to develop relations with African states.