263 organizations seek to stop construction of controversial crude oil pipeline across East Africa
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263 community and NGOs from around the world have urged the CEOs of 25 banks not to fund the construction of a heated crude oil pipeline.
The organizations, from 49 countries, including 122 African-based, listed the immense threats that the 1,445-kilometer-long East African Crude Oil Pipeline (EACOP) would pose. The pipeline, they stated, will affect local communities, water supplies, and biodiversity in Uganda, Tanzania, Democratic Republic of Congo and Kenya.
They also warn that the pipeline will fuel climate change by transporting oil that will generate over 34 million tons of carbon emissions each year. The project is proposed by French oil company Total and the China National Offshore Oil Corporation.
REFINERY NEWS ROUNDUP: China’s Zhejiang to raise capacity by 2025; Japan’s runs down on earthquake
China’s Zhejiang province in the eastern coast aims to have 90 million mt/year refining capacity by 2025 from 51 million mt/year in 2019, suggesting that Zhejiang Petroleum & Chemical’s phase 3 project is unlikely to launch within the 14th Five Year Plan 2021-25, market sources and analysts told S&P Global Platts.
The province’s energy regulator Zhejiang Development and Reform Commission published a draft plan for public comment, which include plans to expand refining capacity, speed up construction of oil pipelines and additional storage capacity for energy security, as well as significantly boost fuel bunkering volume at its pilot free trade zone.
NYSE проведет делистинг акций китайской нефтегазовой CNOOC — последние новости / НВ nv.ua - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nv.ua Daily Mail and Mail on Sunday newspapers.
Wall Street wants to finance the enemy, and the Biden administration is opening the door wide.. Beijing views the U.S. financial community as its channel to influence the highest levels of the American political system. "It would be a tragic mistake
S&P Global Ratings Takes Multiple Rating Actions On Major Oil And Gas Companies To Factor In Greater Industry Risks
- S&P Global Ratings believes the energy transition, price volatility, and weaker profitability are increasing risks for oil and gas producers.
- To factor this into our ratings, on Jan. 25, 2021, we revised our industry risk assessment to moderately high risk from intermediate risk.
- We have placed our ratings on nine companies and their subsidiaries on CreditWatch with negative implications, as we review the consequences of higher business risks for these ratings.
- We are revising the outlooks on two ratings to negative.