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APO Group - Africa Newsroom / Press release | East African Crude Oil Pipeline (EACOP) will disenfranchise local communities in Uganda and Tanzania (By Charity Migwi, Edwin Mumbere and Evelyn Acham)
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East African Crude Oil Pipeline (EACOP) will disenfranchise local communities in Uganda and Tanzania (By Charity Migwi, Edwin Mumbere and Evelyn Acham)
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Daily Monitor
Tuesday March 09 2021
Summary
As such, any concerns relating to environment and social aspects, if not addressed, are likely to jolt investors.
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The French oil giant Total SA chief executive, Mr Patrick Pouyanne, has acknowledged that the company’s oil projects in Uganda “represent significant social and environmental stakes” but said they are mindful of the fears and are “taking them into consideration.”
Mr Pouyanne said they are mobilising substantial resources to ensure the oil projects are carried out in an exemplary manner and to create value for the people in both countries.
“In view of the questions raised by stakeholders, the commitment of Total is to answer to all questions and to ensure complete transparency on the studies conducted by Total and independent third parties and the actions taken as a result,” Mr Pouyanne said in a statement from the company’s headquarters in Paris yesterday.
Standard Bank reviewing oil pipeline financing concerns
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