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BUSINESS
June 7, 2000 | From Reuters
Rejecting the concerns of environmentalists, the World Bank on Tuesday approved a $222-million loan package to help finance a controversial $3.5-billion oil pipeline between Chad and Cameroon in sub-Saharan Africa. The loans are seen as the first step toward obtaining commercial financing to build the costly project, which will develop about 300 oil wells in the south of landlocked Chad and transport the oil 650 miles to Cameroon's Atlantic coast port of Kribi for export.
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BUSINESS
June 7, 2000 | From Reuters
Rejecting the concerns of environmentalists, the World Bank on Tuesday approved a $222-million loan package to help finance a controversial $3.5-billion oil pipeline between Chad and Cameroon in sub-Saharan Africa. The loans are seen as the first step toward obtaining commercial financing to build the costly project, which will develop about 300 oil wells in the south of landlocked Chad and transport the oil 650 miles to Cameroon's Atlantic coast port of Kribi for export.
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BUSINESS
August 30, 2006 | From Bloomberg News
Chevron Corp. said Tuesday that it was told by Chad to leave the oil-rich African country over a tax dispute. The San Ramon, Calif.-based company received the demand in a letter Monday as part of a dispute in which Chad President Idriss Deby told Chevron and Malaysia-based Petronas last weekend that they owed $450 million in taxes. Chevron asserts that it is "in full compliance with all our tax obligations," spokesman Donald Campbell said Tuesday. Campbell declined to comment further.
WORLD
April 16, 2006 | From the Associated Press
N'DJAMENA, Chad -- The oil minister threatened Saturday to shut down Chad's oil pipeline unless the government is compensated for frozen oil revenue, and thousands rallied in the capital to support the president after troops defeated rebel attackers. Oil Minister Mahmat Nasser Hassan said in an interview that the pipeline would be shut unless the international community ensured that Chad received its oil royalties by midday Tuesday.
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