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Browsing: East Africa Crude Oil Pipeline
The EACOP is a 1,443km pipeline that is been constructed at a value of 3.5 Billion USD. These funds are been directly injected into the economies of Uganda and Tanzania effectively increasing their FDI by over 60 % during the construction phase alone.
The magnanimous project is been constructed and operated through a shareholding approach among several stakeholders including the government of Uganda through the Uganda National Oil Company (UNOC), the government of Tanzania through the Tanzanian Petroleum Development Corporation (TPDC), France’s Totalenergies and China’s CNOOC.
It is expected that through the East African Crude Oil Pipeline, the region’s East Africa’s oil potential. It will effectively attract investors and companies to explore the region’s oil potential. Further still, as new infrastructure projects commence in line with the pipeline, it will greatly contribute to the enhancement of the central corridor between Uganda and Tanzania.…
If someone were to put me on the spot and ask me to name an environmentalist group, I’d probably blurt out the first thing that comes to mind, Greenpeace. There are obvious reasons for this: Greenpeace has been around for more than 50 years, and it has done a masterful job of bringing environmental concerns to the world’s attention and keeping them there. The group has a strong track record when it comes to advocacy and awareness, and it has a global reach. It’s truly one of the most visible non-governmental organizations (NGOs) in the world.
And that’s why I see it as significant that Greenpeace’s African division has come out swinging for a major new oil pipeline slated for construction in Uganda and Tanzania. Let me explain what I mean.
What’s at Stake
On April 14, Greenpeace issued a statement expressing dismay about the signing of a new agreement
Uganda President Museveni has told off petroleum multinationals pushing for tax waivers as a pre-condition to further develop the country’s oil fields.
This is deepening a standoff that might affect the building of a critical export pipeline in the country.
According to the highly placed diplomatic sources, President Museveni is understood to have lashed out at petroleum companies accusing them of not appreciating the many adjustments the government has already made in order to facilitate the development of the Hoima oil fields which are estimated to have 1.7 billion barrels of crude oil.
The president listed 17 promises the government has delivered on emphasizing on four major ones which include an international airport still under construction, numerous concessions on taxes and tariffs, road network known as the oil roads and a number of legislations to facilitate the exploitation of the oil.
Also Read: Inside Kenya, Uganda’s crude oil
There have …