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Article: Fueling strife in Chad and Cameroon: the Exxon-Shell-ELF-World Bank plans for Central Africa.
- Article from:
- Multinational Monitor
- Article date:
- May 1, 1997
- Author:
CopyrightCOPYRIGHT 1997 Essential Information, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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YAOUNDE, CAMEROON - Exxon, Shell and the French oil company ELF have teamed up to launch Africa's largest oil development project ever.
The consortium plans to invest $3.5 billion to develop oil fields in southern Chad that are estimated to contain approximately 900 million barrels of recoverable oil reserves. The companies intend to pipe the oil through neighboring Cameroon to the Atlantic coast - a 600-mile journey that traverses biodiverse forests and politically volatile lands. At the coast, the companies will load the crude on to tankers bound for Europe.
World Bank funding through both the International Development Association (IDA), the lending window ...