Article
Chad Dilutes Oil-For-Development Pledge
Tension is rising between the World Bank and the African nation of Chad, one of the world's poorest countries, over the latter's decision to seize funds from a controversial Bank-funded oil pipeline and not spend the money on social sectors... The pipeline...is a joint venture between the U.S. oil giants ExxonMobil (which holds 40 percent of the private equity) and Chevron (25 percent), and Malaysia's state oil company Petronas (35 percent).