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Standard Bank parts ways with United States based PR firm

Standard Bank has parted ways with United States based Public Relations firm Edelman.

Officially, Standard Bank and Edelman are not saying much. When approached by Business Day both parties offered the same noncommittal, mealy mouthed statement.

“We can confirm that Edelman and Standard Bank Group partnered closely for three years and mutually agreed not to renew our partnership beyond December 2022,” both firms said separately via e-mail. “Due to confidentiality commitments with our clients, we are unable to share additional information.”

But Fin24, which broke the story, suggested Standard Bank and Edelman fell out after the US-based PR giant refused to work on the East African Crude Oil Pipeline (EACOP). Standard Bank is an adviser on the controversial 1,443km pipeline, which involves oil groups CNOOC, TotalEnergies and Tullow and will see Uganda’s crude oil transported to a port in Tanzania for export.

While the project was mired in controversy for some time, one could be forgiven for being sceptical about claims that a PR firm would walk away from one of the most lucrative PR retainers in SA over a single project in a small market like Uganda. Most PR firms would represent the devil himself if he offered them a decent monthly retainer.

Edelman has done PR work for oil groups Shell and ExxonMobil.

Source: https://www.businesslive.co.za/bd/companies/financial-services/2022-08-11-news-analysis-standard-banks-hot-pr-potato/

Content created and supplied by: LisaLoot (via Opera News )

CNOOC Standard Bank TotalEnergies Tullow US-based

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