Rosneft considering African oil pipeline

Oct. 15, 2012 at 8:52 AM
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MOSCOW, Oct. 15 (UPI) -- Russian media reports oil company Rosneft may take part in the construction of an oil pipeline in Africa, its first such effort in an overseas market.

The Moscow Times reports Rosneft may help in the construction of a $700 million oil-products pipeline planned from Mozambique to Zimbabwe. The pipeline would complement shipments to Zimbabwe by road from South Africa. Another pipeline in the area is at full capacity, the report adds.

The report says the pipeline from Zimbabwe would carry as much as 60,000 barrels of oil products per day. The country consumes around 36 million barrels of petroleum products per year.

The European Union early this year eased restrictions on Zimbabwe because of the country's political progress. The EU decided to keep an arms embargo and other restrictions in place but removed people and companies from a list of those subject to an asset freeze.

Human Rights Watch said, while Zimbabwe has made progress in recent years, President Robert Mugabe's ruling Zimbabwe African National Union-Patriotic Front is still accused of committing grave human rights abuses against its opponents.

Rosneft could get the necessary construction permits by the end of the year.

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