Western Banks To Miss Out On African Oil Boom ...Middle East

When the Ugandan and Tanzanian governments announced the East African Crude Oil Pipeline project, it elicited very different reactions. Some cheered the news that would add Uganda to the world's oil producer club and move its crude to buyers around the world from the Tanzanian coast. Others almost immediately staged protests, claiming any new oil development would compromise the world's journey to a net-zero future. And then Western banks refused to finance EACOP. It is a growing trend in financial services, especially in Europe. Banks are at the…

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