Two consortiums from Russia and South Korea had emerged as the final bidders for Uganda’s $2.5 billion (R26.6bn) oil refinery after two others were knocked out of the bidding process, the Ministry of Energy said yesterday. A consortium led by South Korea’s SK Energy and another led by Russia’s RT-Global Resources would proceed to the final phase of the bidding process, the ministry said. China Petroleum Pipeline Bureau’s proposal did not adequately satisfy all the tender requirements and the proposal by Japan’s Marubeni Corporation had not been evaluated because it lacked a bid bond. Uganda’s hydrocarbon reserves were discovered along its border with the Democratic Republic of Congo in 2006. – Reuters