All is not well with the Total SE-sponsored East African Crude Oil Pipeline as, one by one, European lenders are walking away from requests to finance the $3.5 billion project, leaving it in financing blues barely three weeks after its launch.
Last week, French newspaper Les Echos reported that three French banks – BNP Paribas, Société Générale and Crédit Agricole – which have previously bankrolled Total’s oil and gasprojects – had opted not to provide financing for Eacop.
