The $10 Billion Oil Pipeline Bet: Barron's [FOX Business Network]
TotalEnergies SE (TTE)
Company Research
Source: FOX Business Network
A foreman on the East African Crude Oil Pipeline, or EACOP, ushers workers under a corrugated steel roof that becomes percussion for the downpour. "Bush music," he says. This team, working on the world's longest heated oil pipeline , faces challenges from forest fires to deadly snakes as it clears land from the heart of Africa to the Indian Ocean. Each day of heavy rain brings four days of disruption -- and in Uganda about half of the year is the rainy season. Yet the most worrisome delaying force at Pump Station One, the start of EACOP near the small city of Hoima, isn't weather, fire, or snakes. It's money. A megaproject that has drawn together the fortunes of French energy giant TotalEnergies, unpredictable Chinese backers, and big Persian Gulf investors still doesn't have its funding entirely in place. If completed, EACOP will meander almost 900 miles and carry up to 246,000 barrels of crude a day to the Tanzanian port of Tanga, about half as much as the Keystone pipeline ca
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TTE
Sec Filings
- 5/17/24 - Form SD
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- 4/29/24 - Form F-3ASR
- TTE's page on the SEC website