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Banks urged to steer clear of East Africa oil pipeline financing

Banks urged to steer clear of East Africa oil pipeline financing

NITA BHALLA  MORE than 260 charities on Monday urged banks not to finance a $3.5 billion oil pipeline in East Africa, concerned the project could lead to the loss of community land and livelihoods, environmental destruction and surging carbon emissions. France's Total and China National Offshore Oil Corporation are due to start work soon on a 1,445-km (900-mile) pipeline from western Uganda through neighbouring Tanzania to the Indian Ocean port of Tanga. About two thirds of the pipeline's cost will be financed by debt, and a Ugandan unit of South Africa's Standard Bank Group , Japan's Sumitomo Mitsui Banking Corp and the…
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Total to take steps to mitigate environmental impact of Uganda, Tanzania projects

Total to take steps to mitigate environmental impact of Uganda, Tanzania projects

FRENCH energy giant Total has detailed steps it would take to mitigate the environmental and human impact from its Tilenga project in Uganda and a multibillion-dollar pipeline carrying oil from the country to Tanzania. Total and its partner China National Offshore Oil Corporation plan to exploit oil reserves in Lake Albert in Uganda and construct a $3.5 billion East African Crude Oil Pipeline (EACOP) to neighbouring Tanzania for export. Environmental groups argue that the pipeline will threaten local communities, water supplies and biodiversity in both countries. Total said it would voluntarily limit the Tilenga project's footprint within Uganda's Murchison Falls…
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EXCLUSIVE-Exxon and Total in talks over Mozambique LNG resource-sharing deal

EXCLUSIVE-Exxon and Total in talks over Mozambique LNG resource-sharing deal

HELEN REID, EMMA RUMNEY and STEPHEN JEWKES ExxonMobil and Total are in negotiations over their massive LNG projects in Mozambique, with each seeking to extract more gas from a shared field that straddles the two developments and cut costs, three sources familiar with the matter told Reuters. The talks between the energy majors also involve the Mozambican government, according to the sources, as it has to give final approval to any new agreement. The field that straddles the projects happens to contain gas that is thicker and therefore cheaper to extract and convert into LNG than reserves elsewhere in the…
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Uganda gives environmental consent to oil pipeline despite objections

Uganda gives environmental consent to oil pipeline despite objections

ELIAS BIRYABAREMA UGANDA has granted environmental approval for a $3.5 billion pipeline to export crude oil from western fields to the Indian Ocean coast in Tanzania, despite pressure from lobby groups. The planned pipeline, from fields co-owned by France's Total and China's CNOOC, would cross sensitive ecological systems including wildlife-rich areas, rivers and swampland that are catchments for Lake Victoria. International and local environmental groups including Global Witness say it poses unacceptable risks. But in a statement late on Thursday, Uganda's state-run National Environment Management Authority (NEMA) said it had issued a certificate of approval for the environmental and social…
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Mozambique battles to save $20-billion gas project

Mozambique battles to save $20-billion gas project

SUDIP KAR-GUPTA FRENCH energy group Total will resume construction at its liquefied natural gas project in northern Mozambique when the security situation is guaranteed, the chairman of Mozambique's National Petroleum Institute has said. Carlos Zacarias was speaking after Total declared force majeure on the $20 billion project, following an insurgent attack on the nearby coastal town of Palma. He added that Mozambican authorities were working to restore "normal security conditions" so activities at the Total site could resume very soon and that Total had not completely abandoned the project. Total declared force majeure on its $20 billion liquefied natural gas…
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