Sunday, 30 May 2010

Tanzania new pipeline plan promises cheaper oil

From The East African - BUSINESS, Nairobi, KENYA
By Mike Mande

Landlocked East African Community member states are to benefit from a proposed oil pipeline to connect them to Tanzania if negotiations, now at an advanced stage, go through.

The $3.5 million project, which will see the construction of a refinery and a 1,500-kilometres pipeline from the Coast Region of Tanzania to Kigoma and Mwanza regions will be carried out by Noor Oil & Industrial Technologies (NOIT), a United States-based multinational oil firm.

Such a pipeline will give the region a steady, uninterrupted supply of refined products.

Union of Oil and Gas Producers of Russia president Dr Gennady Shmal told The EastAfrican that the project’s advantages are linked to the huge net proceeds from the storage and transport of petroleum products to Mwanza, Kigoma and neighbouring states.

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