Barclays and Credit Suisse rule out supporting East African Crude Oil Pipeline in the face of growing community concern

Prominent commercial banks Barclays and Credit Suisse have both declared they will not provide financing for the construction of the world’s biggest heated crude oil pipeline proposed by French oil company Total and the China National Offshore Oil Corporation. The banks provided statements making clear they will not support the East Africa Crude Oil Pipeline after an open letter endorsed by […]

Over 260 organizations call on banks not to finance Total’s East African Crude Oil Pipeline

Today, 263 community and non-governmental organizations from around the world urged the CEOs of 25 banks not to participate in loans to fund the construction of the world’s longest heated crude oil pipeline. In an open letter, organizations from 49 countries, including 122 African-based organizations, detail the immense threats that the 1,445-kilometer-long East African Crude […]

AfDB says no plans to fund Uganda-Tanzania pipeline – The East African

The African Development Bank (AfDB) responded to a petition by a worldwide consortium of civil society organizations saying it will not fund the East Africa Crude Oil Pipeline (EACOP), as it does not fall within its focus area of renewable energy projects. Civil society says the project will cause irreparable social and environmental damage. READ […]

East African oil pipeline would cause more emissions than Denmark | China Dialogue

Chinese lenders should pull out of the risky Uganda–Tanzania oil project and invest in renewables instead, argues Erik Myxter-lino. Since 2017, China National Offshore Oil Corporation (CNOOC) has been working with oil majors Total and Tullow to exploit untouched oil in western Uganda. Yet the project is stuck in limbo. The stoppage is a chance […]