French Total and Chinese CNOOC signed a series of agreements in early April for the construction of the Uganda-Tanzania pipeline. The $ 3.5 billion (3 billion euros) project led by Total and CNOOC provides for the management of oil fields in the Lake Albert region in western Uganda and proposes to transport the crude to the Tanzanian coast via the East African Crude Oil Pipeline (EACOP).
The discovery of crude reserves in 2006 raised hopes in Uganda but mining has since been delayed by trade and tax disputes.
Trending
- Afreximbank launches $3 billion revolving facility for oil players
- Four Kenyans wanted by Nigerian authorities for CBEX hack
- IMF tough rules for Kenya’s new loan
- ARC Ltd and Klapton Re join forces to expand climate insurance across Africa
- Investors snub Ethio Telecom’s IPO, taking only 10.7 percent of shares offered
- Ruto bags $823 million in China
- Kenya’s KCB, Equity Bank to sell 30 percent stake in Congo subsidiaries
- Breaking: U.S cancels Kenya tour, after Ruto visit to China
Total and CNOOC invest in Uganda-Tanzania pipeline
About us
Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, give meaning to statistics….
Contact us: redaction@financialafrik.com