East African Crude Oil Pipeline map, small

Eacop pipeline’s backers face more critics and financing hurdles

In depth
Issue 469 - 03 Oct 2022 - By James Gavin | 6 minute read

Fresh criticism from the European Parliament of the controversial scheme to drill for oil in Lake Albert and export the crude to Tanzania via a 1,400km pipeline adds to pressures on the project’s shareholders. The reputational risk has made dozens of major banks and insurers distance themselves from the project, but Uganda and Tanzania remain adamant Eacop should go ahead, writes James Gavin.

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