Saturday, March 22, 2003

More on oil in Africa

From the front page of yesterday's LA Times, a story about the Chad to Cameroon oil pipeline by Ken Silverstein:
The pipeline is the largest single investment in Africa, according to World Bank officials. When the pipeline is completed, Chad will become the fourth-largest oil producer in sub-Saharan Africa. The country is expected to receive at least $2.5 billion in net oil revenue over 25 years. Cameroon will collect an estimated $500 million in transit fees for allowing the pipeline to cross its territory en route to the Atlantic.
The article goes on to outline the measures being taken to combat corruption.

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