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New Ugandan-Tanzanian cross border oil pipeline plans

After a closed-door meeting with its Tanzanian partners in early July, the Ugandan government announced that construction of the cross border oil pipeline – newly dubbed the EACOP – will begin in January. Although political will behind the project seems firm, the Economist Intelligence Unit (EIU) expects difficulties in attracting financing. The market analyst notes that Uganda’s break-even point is around $60/b (compared to an EIU oil price forecast to average $63/b in 2019–2024) and that investor appetite for a $3.6bn greenfield project in a frontier market is ‘far from assured’.

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