“The critiques are continuing so we don’t move,” Nankabirwa said. “I’m not worried, I am just annoyed”, the minister said in reference to criticism from environmental NGOs. “Uganda is a sovereign state, you cannot dictate to us. I pray I don’t come across such people.”
There is “positive discrimination for the communities hosting the operations. At the peak it is expected that about 160,000 people will be employed. Out of these 14,000 persons will be directly employed in the oil and gas sector”, he said.
Demonstrators have declared today a “global day of action” to stop EACOP, which will run from west Uganda to a port in Tanzania.
Discussions are “advanced” for syndicated tranches of loans from African, Asian and Chinese lenders, among others, for the conduit that will carry 216,000 barrels of oil a day from Ugandan fields for export, she said.
Greta Thunberg, who was arrested on Tuesday outside the Energy Intelligence Forum, participated in the blockade of JP Morgan this morning.
The minister said the insurance issue was the last real barrier to EACOP. “The rest was politics”, she said.
“Many financial institutions have refused to underwrite this project and if TotalEnergies backs off, the government of Uganda would have a hard time funding this project, so we can win."
The NGO called on EACOP’s other two financial advisors, Standard Bank and the International Commercial Bank of China (ICBC), to drop the project.
A group of nonprofits is pushing Barclays Plc to retract an analyst research note they claim amounts to a “whitewash” of the environmental and social impact of an African oil pipeline being developed by companies including TotalEnergies SE.
"We urge Standard Bank and SMBC to reconsider their involvement in the East African Crude Oil Pipeline,” said Baraka Lenga, climate change activist based in Tanzania.
The complaint alleges Marsh failed to carry out adequate due diligence on the controversial pipeline, which will run from Uganda's west to the port of Tanga, in Tanzania.
“I told [the European Parliament] to go to hell!” Museveni said. “But I didn’t hear the French government making any trouble.”
Kingfisher will have around 20 production wells and 11 water injection wells, from four pads.
“There have not been any compulsory purchases of land so far,” EACOP managing director Martin Tiffen said, speaking earlier this week.
East Africa-focused financial services provider Britam Holdings has opted out of insuring a controversial pipeline project – in a move that has been hailed by opponents.
Extinction Rebellion has targeted a number of companies it sees as implicated in fossil fuel production, including service companies, financiers and a PR company.
CNOOC Uganda has erected the Kingfisher rig on location, in Uganda’s western Lake Albert, as drilling plans move ahead.
African states must defend the use of fossil fuels at the soon starting COP27, in Egypt, African Energy Chamber’s NJ Ayuk has said.
Developing oil and gas projects can be done in an environmentally sound fashion and can play a critical role in changing a country’s finances, according to Uganda National Oil Co. (UNOC) CEO Proscovia Nabbanja.
Uganda’s oil production plans were redesigned to reduce emissions and the environmental impact, an official from the state-owned oil company has explained.
Insurers should move faster away from hydrocarbon coverage, Insure Our Future has said. The group has suggested insurers may also seek damages from large emitters.
A proposed natural gas pipeline running from Tanzania to Uganda may have a positive environmental impact in a region where the majority of households still cook using charcoal or wood, according to Patrick Mweheire, Standard Bank Group’s regional chief executive officer for East Africa.
The European Parliament has criticised a proposed East African pipeline, calling for TotalEnergies to consider an alternative route.
The Islamic Development Bank (IsDB) has stepped up to provide $100 million of financing for the East African Crude Oil Pipeline (EACOP).
Oil companies and environmentalist activists see the same world in wholly differing ways. Rarely is this divide as stark as in discussions around the East African Crude Oil Pipeline (EACOP).