![[Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years](https://theafricanbusiness.com/wp-content/uploads/2023/02/TALA-APP-360x180.jpg "[Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years 17")
President of Uganda, Yoweri Museveni shuns the EU and reiterates his commitment to his oil pipeline mega-project
- Ugandan President insists on going through with oil pipeline mega-project
- This decision was made despite the fact that the European Parliament has warned against the effects of the project
- The European Union warns that 100,000 residents could be displaced if the project is commissioned
Ugandan President Yoweri Museveni remains intent on commencing the mega oil pipeline project across Lake Albert.
The project is in partnership with the French group, TotalEnergies, and the Tanzanian Government as the pipeline is designed to also run through its region.
The project has been a subject of contention between the European Union parliament and the Ugandan Government, owing to the potential damage it could cause to the residents of the area and its environs.
The European Union parliament has noted that the project could also destroy the only source of usable water for the locals in the area. Some concerned citizens of the country have protested the commissioning of the project, which led to some arrests being made, further intensifying the pressure the Members of the European Parliament (MEPs) are heaping on the Ugandan government.
Regardless, the President of Uganda is set on seeing the project through. He reiterated his intent and even noted that he is willing to go in another direction should his current partners decamp.
“The project will continue as stipulated in the contract we have with TotalEnergies and CNOOC (China National Offshore Oil Corporation),” Uganda’s President Yoweri Museveni said on Twitter.
“TotalEnergies has convinced me on the pipeline idea; if they choose to listen to the European Parliament, we will find another partner to work with. In any case, our oil will be extracted in 2025 as planned. So the people of Uganda need not worry.” He added.
This conclusion came a day after the Ugandan Parliament had firmly reproached the resolution adopted by members of the European Parliament, criticizing the mega-project. Read story here…
Following TotalEnergies’ $10 billion investment deal, which involves constructing a pipeline of over 1,400km linking the Lake Albert fields in western Uganda to the Tanzanian coast, with Uganda, Tanzania, and CNOOC, the MEPs warned that about 100,000 people could be displaced, and called for the Ugandan Government to make provisions for proper compensation.
Also, the MEPs have asked Total Energies to delay the project for one year so that the possibility of alternative routes can be studied.
Under the waters and on Lake Albert’s shores, a 160km natural barrier separating Uganda from DRC, lies the equivalent of 6.5 billion barrels of crude oil, of which about 1.4 billion barrels could currently be recovered. Uganda’s reserves can last between 25 and 30 years with a peak production estimated at 230,000 barrels per day.
