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Stock impact report

E.Africa Court Dismisses Activists' Case Over Massive Oil Project [Barron's]

TotalEnergies SE (TTE) 
Company Research Source: Barrons
Four civil society groups first filed a petition in 2020 demanding full legal scrutiny of the East African Crude Oil Pipeline (EACOP), citing its far-reaching human rights, environmental, and climate impacts. Advertisement - Scroll to Continue The project is being jointly developed by TotalEnergies and the China National Offshore Oil Corporation (CNOOC), along with the state-owned Uganda National Oil Company. The 1,443-kilometre (900-mile) pipeline -- the world's longest heated pipeline -- will transport crude from oilfields being developed around Lake Albert in northwestern Uganda to a Tanzanian port on the Indian Ocean. On Wednesday, the EACJ threw out the case on procedural grounds, ruling it was filed outside the 60-day limit, upholding a 2023 decision by a lower court. "We are disappointed," said Dale Onyango, one of the lawyers representing the civil society groups, saying the legal options are now "extremely limited". Advertisement - Scroll to Continue "The case Show less Read more
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