3rd September 2025
Vulnerable countries weighed down by debt are often ‘encouraged’ to exploit oil and gas reserves as a way of financing their obligations. Uganda, for example, took a $1 billion loan from the IMF in 2021, using some of the money to build the East Africa Crude Oil Pipeline (EACOP). Whilst Uganda and its neighbour Tanzania, will eventually get some return from this project, the bulk of the profits (70%) will accrue to Total (62%) and China National Offshore Oil Corporation (8%).(2) At the same time farmers have been displaced from their land, villagers evicted, migration routes for wild animals have been blocked, and vast tracts of the Murchison Falls National Park are at risk from damage and pollution. And the burning of the oil extracted (which will not benefit local people as it will be sold on the international market) will generate over 34 million tons of CO2 emissions per year.
You can support the campaign against this oil pipeline and its climate destroying effects here – https://www.stopeacop.net/
- https://debtjustice.org.uk/wp-content/uploads/2018/07/Debt-justice-for-climate-justice-supporter-briefing-2024-WEB.pdf
- https://www.eacop.com/shareholders/
The Green Tau 