Bank 'Comfortable' About Investment in China-Backed Oil Pipeline
Standard Bank, one of Africa's biggest banks, has been under fire for its potential involvement in the controversial East African Crude Oil Pipeline project. The bank says the project will not continue the destructive legacy of fossil fuel projects across the continent but will instead be a progressive development.
This comes after human rights organisations and environmentalists said the planned oil pipeline stretching from Uganda's Lake Albert to Tanzania's Indian Ocean coast risks displacing thousands of families and wildlife habitats. Enviromentalists are worried that it will threaten vulnerable species, such as elephants and chimpanzees, and carbon emissions could be increased.
The multibillion-dollar project is being led by French energy company TotalEnergies, which will construct oilfields in Uganda and transport the crude through a 1,445-kilometer (900-mile) pipeline to a port in Tanzania.
RFI reports that four environmental groups have filed a law suit against TotalEnergies and the EACOP oil project.
An official confirmed that the Ugandan government is in the closing stages of talks with Chinese bankers to help fund a contentious pipeline project after some Western partners withdrew.
Standard Bank Ponders U.S.$120 Million Investment in East African Pipeline While Awaiting Clarifications
Daily Maverick, 19 October 2023
Standard Bank, one of Africa's biggest banks, has been under fire for its potential involvement in the controversial East African Crude Oil Pipeline project. The bank says the… Read more »
Environmental Groups Sue TotalEnergies Over 'Devastating' East Africa Oil Pipeline
RFI, 2 October 2023
Four environmental groups have filed a law suit against the French group TotalEnergies and its EACOP oil project in Tanzania and Uganda. They maintain that it threatens the… Read more »
Activists Worried About Uganda's China-Backed Oil Pipeline
VOA, 29 September 2023
Thousands of families displaced, wildlife habitats -- home to vulnerable species such as elephants and chimpanzees -- threatened, and carbon emissions increased. These are some of… Read more »
Uganda Looks to Chinese Backers After Pipeline Funders Withdraw
allAfrica, 28 September 2023
Uganda is in the closing stages of talks with Chinese bankers to help fund a contentious pipeline project after some Western partners withdrew, a top official said on Wednesday,… Read more »
Why Ugandans, East Africans Celebrate the East African Crude Oil Pipeline
Independent (Kampala), 22 September 2023
The EACOP will generate considerable economic benefits for Uganda. The project is estimated to attract billions of dollars in foreign direct investment, leading to increased… Read more »
In 2021, TotalEnergies began constructing a 700-acre industrial area in Buliisa district despite activists raising concerns about the threats posed by the pipeline to livelihoods, ... Read more »
At least 26 Ugandans have filed a lawsuit against French oil firm TotalEnergies in Paris, France, seeking compensation for alleged human rights abuses at the company's huge m Read more »
The French fossil-fuel giant TotalEnergies' planned oil pipeline in East Africa will exacerbate the global climate crisis, Human Rights Watch said in a report rel Read more »