Uganda expects all pledged funding for oil pipeline by end of November


(Bloomberg) — Uganda said it expects all potential lenders for the country’s planned $4 billion crude export pipeline to make their commitments by the end of November, smoothing the way to a targeted production start-up in early 2025.

Negotiations continue with dozens of financial institutions keen to be involved the 1,443-kilometer (897-mile) conduit from Uganda’s oil fields to Tanzania’s port of Tanga, Peter Muliisa, chief legal and corporate affairs officer for Uganda National Oil Co., said Monday. Just a few of 66 lenders that expressed an interest in helping to finance the project didn’t return the necessary papers.

The East African Crude Oil Export Pipeline, which will have a daily capacity of 216,000 barrels a day, will be funded on a 40% to 60% equity-debt ratio, according to UNOC, a partner in the project. The link is designed to move land-locked Uganda’s oil to international markets.

The Islamic Development Bank became the first lender to commit funding to the project when it approved $100 million for EACOP at the weekend.

TotalEnergies SE is leading development of the project with a 62% stake in the cross-border pipeline. UNOC and Tanzania Petroleum Development Corp. each have a 15% interest, and the rest is owned by China’s Cnooc Ltd.





Source link

Related articles

Binance Highlights 220% Tokenized Inventory Surge, What Is the ARPU for IG, CMC, Plus500, and XTB?

Tokenized shares surge in JulyCuriosity in tokenized shares rose sharply in July, with the mixed market capitalization of TSLA and SPY reaching $53.6 million, in accordance with a report by Binance. This marked a 220%...

Pacific Biosciences of California, Inc. 2025 Q2 – Outcomes – Earnings Name Presentation (NASDAQ:PACB)

Q2: 2025-08-07 Earnings AbstractEPS of -$0.13 beats by $0.04  | Income of $39.77M (10.42% Y/Y) beats by $3.29MThis text was written byObserveLooking for Alpha's transcripts workforce is answerable for the event of all of...

Deal: The Yaber L2s Projector is simply $134.98, and it is satisfying!

Projectors are type of magical. Nothing fairly beats having fun with a weekend film, cozied up in your favourite blankie, in a darkish room, with a projector enjoying a film in your wall....

3 Discount Shares Providing Dependable Dividends and Promising Upside Potential

Hartford Funds researchers, in collaboration with Ned Davis Analysis, discovered that dividend shares averaged an annualized return of 9.2% between 1973 and 2024, and did so whereas being much less risky than the...

Fractals Multi-Timeframe Indicator for MT5 — Full Information – Buying and selling Methods – 8 August 2025

Fractals are one of many traditional instruments launched by legendary dealer Invoice Williams. These easy but highly effective markers are used...
spot_img

Latest articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

WP2Social Auto Publish Powered By : XYZScripts.com