Browsing: Tanzania Oil

Tanzania, Uganda crude oil deal soars as new MoU is signed

Industry and Trade
  • The EACOP is one of the biggest oil project in Uganda
  • The total investment has reached $10 billion
  • Uganda will pay Tanzania $ 12.20 per barrel transported through the pipe

The East African Crude Oil Pipeline project has again reached another height as the two partnering nations, Tanzania and Uganda, have signed a Memorandum of Understanding on cooperation in defence and security for the ambitious and controversial EACOP project.

The signing was penned on Friday last week at the climax of a three-day Inter-governmental Security Committee Meeting held in Kampala, Uganda.

The MoU was signed on behalf of the two nations by Uganda’s Minister of Defence and Veteran Affairs Vincent Bamulangaki Ssempijja and his Tanzanian counterpart, Minister of Defence and National Service Dr Stergomena Tax.

According to the Ugandan minister, the MoU was an important matter to be concluded, as highlighted by the two partner nations, President Samia Suluhu Hassan…