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Uganda's oil, gas dreams: What is the safety net?


Daily Monitor
Monday April 19 2021
Summary
I don’t think its [EITI] ritualistic, having this information in black and white will be a catalyst for debate and it will be information in the hands of the right people who can do something and it will also be an opportunity for the public to know what is really happening in the sector,” EITI head of Secretariat, Ms Gloria Mugambe 
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Last weekend, Uganda’s oil industry marked a major milestone when President Museveni, his Tanzania counterpart Samia Suluhu Hassan and the Total chief executive officer, Mr Patrick Pouyanne, signed agreements, which could potentially transform Uganda into a major crude producer and into the lofty middle-income economy if the funds are properly utilised. ....

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Banks opt out of oil pipeline funding


Banks opt out of oil pipeline funding                    
Thursday April 01 2021
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The $3.5b East Africa Crude Oil Pipeline (EACOP) project could run into trouble after some international commercial banks withdrew from funding the construction of the world’s longest heated crude oil pipeline proposed by French Oil Company Total and the China National Offshore Oil Corporation (CNOOC).
 “The banks provided statements making it clear they will not support the East Africa Crude Oil Pipeline [EACOP]after an open letter endorsed by 263 organisations from around the world was sent to 25 banks considered most likely to be approached for financing,” a March 18 press release from Inclusive Development International, read in part. ....

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