Standard Bank to Move Forward With Funding $5-Billion African Oil Pipeline ...Middle East

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Standard Bank to Move Forward With Funding $5-Billion African Oil Pipeline
source : OILPRICE ( Middle East ) () 66
Africa’s top lender, Standard Bank, expects to help fund part of the planned $5-billion East Africa Crude Oil Pipeline (EACOP), a controversial project that has had environmental campaigners call on banks to abandon financing for the pipeline.   The EACOP project, with a price tag of $5 billion, is for a 1,443 kilometer-long (897 miles) pipeline to be built from landlocked Uganda to the Tanga port in Tanzania. The oil pipeline is expected to bring crude from the Lake Albert project in Uganda to the international oil market. It is…

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